GALLERY GIFTS LIMITED

Company Registration Number:
01587046 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

GALLERY GIFTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

GALLERY GIFTS LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 9,981 2,933
Total fixed assets: 9,981 2,933
Current assets
Stocks: 350,000 400,000
Debtors: 4 3,767 3,585
Cash at bank and in hand: 246,942 243,101
Total current assets: 600,709 646,686
Creditors: amounts falling due within one year:   (208,682) (261,233)
Net current assets (liabilities): 392,027 385,453
Total assets less current liabilities: 402,008 388,386
Total net assets (liabilities): 402,008 388,386
Capital and reserves
Called up share capital: 12,000 12,000
Profit and loss account: 390,008 376,386
Shareholders funds: 402,008 388,386

The notes form part of these financial statements

GALLERY GIFTS LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 19 December 2024
and signed on behalf of the board by:

Name: J G Shah
Status: Director

The notes form part of these financial statements

GALLERY GIFTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

GALLERY GIFTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 21 21

GALLERY GIFTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 272,179
Additions 11,984
Disposals (36,799)
At 31 March 2024 247,364
Depreciation
At 01 April 2023 269,246
Charge for year 3,481
On disposals (35,344)
At 31 March 2024 237,383
Net book value
At 31 March 2024 9,981
At 31 March 2023 2,933

GALLERY GIFTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

GALLERY GIFTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Financial commitments

At 31 March 2024 the company was committed to making payments under non-cancellable leases in the year to 31 March 2024. The amount payable for operating lease within one year was £98,000 (2023 £98,000)