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REGISTERED NUMBER: 04700570 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

The Fireplace Gallery (Cheltenham) Ltd

The Fireplace Gallery (Cheltenham) Ltd (Registered number: 04700570)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Fireplace Gallery (Cheltenham) Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mrs N J Wilson
Mr C J Wilson





REGISTERED OFFICE: 18-19 Knightsbridge Business Centre
Knightsbridge Green
Knightsbridge
Cheltenham
GL51 9TA





REGISTERED NUMBER: 04700570 (England and Wales)





ACCOUNTANTS: Francis & Co
Second Floor
123 Promenade
Cheltenham
Gloucestershire
GL50 1NW

The Fireplace Gallery (Cheltenham) Ltd (Registered number: 04700570)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 555,584 511,354
555,584 511,354

CURRENT ASSETS
Stocks 134,038 177,931
Debtors 6 16,846 29,352
Cash at bank 120,781 111,180
271,665 318,463
CREDITORS
Amounts falling due within one year 7 361,178 377,445
NET CURRENT LIABILITIES (89,513 ) (58,982 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

466,071

452,372

CREDITORS
Amounts falling due after more than one
year

8

310,584

274,720
NET ASSETS 155,487 177,652

CAPITAL AND RESERVES
Called up share capital 108 108
Retained earnings 155,379 177,544
155,487 177,652

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Fireplace Gallery (Cheltenham) Ltd (Registered number: 04700570)

Balance Sheet - continued
31 August 2024


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 16 January 2025 and were signed on its behalf by:





Mrs N J Wilson - Director


The Fireplace Gallery (Cheltenham) Ltd (Registered number: 04700570)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

The Fireplace Gallery (Cheltenham) Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on cost

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

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

The Fireplace Gallery (Cheltenham) Ltd (Registered number: 04700570)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 300,000
AMORTISATION
At 1 September 2023
and 31 August 2024 300,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 465,275 152,024 617,299
Additions - 104,889 104,889
Disposals - (13,975 ) (13,975 )
At 31 August 2024 465,275 242,938 708,213
DEPRECIATION
At 1 September 2023 18,611 87,334 105,945
Charge for year 9,305 51,354 60,659
Eliminated on disposal - (13,975 ) (13,975 )
At 31 August 2024 27,916 124,713 152,629
NET BOOK VALUE
At 31 August 2024 437,359 118,225 555,584
At 31 August 2023 446,664 64,690 511,354

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 2,280 23,485
Other debtors 14,566 5,867
16,846 29,352

The Fireplace Gallery (Cheltenham) Ltd (Registered number: 04700570)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 25,166 25,166
Hire purchase contracts 3,405 -
Trade creditors 105,937 69,825
Taxation and social security 82,612 103,597
Other creditors 144,058 178,857
361,178 377,445

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 264,870 274,720
Hire purchase contracts 45,714 -
310,584 274,720