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REGISTERED NUMBER: 03460009 (England and Wales)












Unaudited Financial Statements

for the Period 1 October 2022 to 31 March 2024

for

THE WOOD GALLERY LIMITED

THE WOOD GALLERY LIMITED (REGISTERED NUMBER: 03460009)






Contents of the Financial Statements
for the Period 1 October 2022 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

THE WOOD GALLERY LIMITED

Company Information
for the Period 1 October 2022 to 31 March 2024







DIRECTORS: R D Yelland
D J Yelland
M R Yelland





SECRETARY: Mrs MPG Yelland





REGISTERED OFFICE: Suite 1, Eighth Floor
Intergen House
65-67 Western Road
Hove
BN3 2JQ





REGISTERED NUMBER: 03460009 (England and Wales)





ACCOUNTANTS: Chambers & Co Accountants LLP
Suite 1, Eighth Floor,
Intergen House
65-67 Western Road
Hove
East Sussex
BN3 2JQ

THE WOOD GALLERY LIMITED (REGISTERED NUMBER: 03460009)

Balance Sheet
31 March 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52 68

CURRENT ASSETS
Stocks 1,523 1,196
Debtors 5 57,734 76,647
Cash at bank 80,818 62,929
140,075 140,772
CREDITORS
Amounts falling due within one year 6 44,588 47,030
NET CURRENT ASSETS 95,487 93,742
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,539

93,810

PROVISIONS FOR LIABILITIES 7 10 13
NET ASSETS 95,529 93,797

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 95,429 93,697
SHAREHOLDERS' FUNDS 95,529 93,797

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2024 and were signed on its behalf by:



R D Yelland - Director


THE WOOD GALLERY LIMITED (REGISTERED NUMBER: 03460009)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 March 2024

1. STATUTORY INFORMATION

The Wood Gallery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents revenue recognised for goods and services supplied, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

THE WOOD GALLERY LIMITED (REGISTERED NUMBER: 03460009)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2022
and 31 March 2024 250
DEPRECIATION
At 1 October 2022 182
Charge for period 16
At 31 March 2024 198
NET BOOK VALUE
At 31 March 2024 52
At 30 September 2022 68

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 15,842 54,835
Harmony carpets 38,581 21,812
Prepayments 3,311 -
57,734 76,647

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Payments on account - 16,591
Trade creditors 17,587 2,684
Tax 16,147 15,147
VAT 6,447 8,448
Directors' loan accounts 3,007 2,760
Accrued expenses 1,400 1,400
44,588 47,030

7. PROVISIONS FOR LIABILITIES
2024 2022
£    £   
Deferred tax 10 13

Deferred
tax
£   
Balance at 1 October 2022 13
Accelerated capital allowances (3 )
Balance at 31 March 2024 10

THE WOOD GALLERY LIMITED (REGISTERED NUMBER: 03460009)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024

8. RESERVES
Retained
earnings
£   

At 1 October 2022 93,697
Profit for the period 66,732
Dividends (65,000 )
At 31 March 2024 95,429

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Wood Gallery Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Wood Gallery Limited for the period ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of The Wood Gallery Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Wood Gallery Limited and state those matters that we have agreed to state to the Board of Directors of The Wood Gallery Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Wood Gallery Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Wood Gallery Limited. You consider that The Wood Gallery Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of The Wood Gallery Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Chambers & Co Accountants LLP
Suite 1, Eighth Floor,
Intergen House
65-67 Western Road
Hove
East Sussex
BN3 2JQ


19 October 2024