2023-05-012024-04-302024-04-30false08983187THE LAWSON GALLERY 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THE LAWSON GALLERY LIMITED

Registered Number
08983187
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

THE LAWSON GALLERY LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

Muhammad Jan Sakhizadeh

Registered Address

7 & 8 Kings Parade
Cambridge
CB2 1SJ

Registered Number

08983187 (England and Wales)
THE LAWSON GALLERY LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-15,494
Tangible assets415,00640,223
15,00655,717
Current assets
Stocks46,000173,083
Debtors5156,515182,222
Cash at bank and on hand37,959-
240,474355,305
Creditors amounts falling due within one year6(214,175)(373,305)
Net current assets (liabilities)26,299(18,000)
Total assets less current liabilities41,30537,717
Creditors amounts falling due after one year(29,650)(34,872)
Net assets11,6552,845
Capital and reserves
Called up share capital100100
Profit and loss account11,5552,745
Shareholders' funds11,6552,845
The financial statements were approved and authorised for issue by the Director on 30 January 2025, and are signed on its behalf by:
Muhammad Jan Sakhizadeh
Director
Registered Company No. 08983187
THE LAWSON GALLERY LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets
5 years straight line
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year65
3.Intangible assets

Total

£
Cost or valuation
At 01 May 23222,530
At 30 April 24222,530
Amortisation and impairment
At 01 May 23207,036
Charge for year15,494
At 30 April 24222,530
Net book value
At 30 April 24-
At 30 April 2315,494
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 May 23147,556
At 30 April 24147,556
Depreciation and impairment
At 01 May 23107,333
Charge for year25,217
At 30 April 24132,550
Net book value
At 30 April 2415,006
At 30 April 2340,223
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-77,048
Other debtors134,06583,984
Prepayments and accrued income22,45021,190
Total156,515182,222
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables22,96681,883
Bank borrowings and overdrafts5,45710,447
Amounts owed to related parties134,628199,628
Taxation and social security40,81957,707
Other creditors10,30523,640
Total214,175373,305
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.