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REGISTERED NUMBER: 03532989 (England and Wales)















PULLMAN GALLERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024






PULLMAN GALLERY LIMITED (REGISTERED NUMBER: 03532989)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


PULLMAN GALLERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: Mr S.O. Khachadourian
Mrs G Khachadourian





SECRETARY: Mr S.O. Khachadourian





REGISTERED OFFICE: Second Floor
34 Lime Street
London
EC3M 7AT





REGISTERED NUMBER: 03532989 (England and Wales)





ACCOUNTANTS: Carston ETL
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT

PULLMAN GALLERY LIMITED (REGISTERED NUMBER: 03532989)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,300 2,600
Tangible assets 5 5,761 7,300
7,061 9,900

CURRENT ASSETS
Stocks 190,000 250,000
Debtors 6 44,005 65,144
Cash at bank and in hand 1,308,233 1,308,819
1,542,238 1,623,963
CREDITORS
Amounts falling due within one year 7 104,224 137,487
NET CURRENT ASSETS 1,438,014 1,486,476
TOTAL ASSETS LESS CURRENT LIABILITIES 1,445,075 1,496,376

PROVISIONS FOR LIABILITIES 8 1,765 2,475
NET ASSETS 1,443,310 1,493,901

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,443,210 1,493,801
SHAREHOLDERS' FUNDS 1,443,310 1,493,901

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th February 2025 and were signed on its behalf by:





Mr S.O. Khachadourian - Director


PULLMAN GALLERY LIMITED (REGISTERED NUMBER: 03532989)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024


1. STATUTORY INFORMATION

Pullman 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 net invoiced sale of goods, excluding value added tax,

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the duration of the lease
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% 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 year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

PULLMAN GALLERY LIMITED (REGISTERED NUMBER: 03532989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


2. ACCOUNTING POLICIES - continued

Basic financial instruments
Trade and other debtors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs.

Trade and other creditors
Trade and other creditors are recognised initially at transaction price plus attributable transaction costs.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances and deposits

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1st June 2023
and 31st May 2024 6,500
AMORTISATION
At 1st June 2023 3,900
Amortisation for year 1,300
At 31st May 2024 5,200
NET BOOK VALUE
At 31st May 2024 1,300
At 31st May 2023 2,600

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1st June 2023 124,612 148,766 10,360 283,738
Additions - 250 - 250
At 31st May 2024 124,612 149,016 10,360 283,988
DEPRECIATION
At 1st June 2023 123,688 143,957 8,793 276,438
Charge for year 132 1,265 392 1,789
At 31st May 2024 123,820 145,222 9,185 278,227
NET BOOK VALUE
At 31st May 2024 792 3,794 1,175 5,761
At 31st May 2023 924 4,809 1,567 7,300

PULLMAN GALLERY LIMITED (REGISTERED NUMBER: 03532989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 44,005 65,144

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,806 34,049
Taxation and social security 677 1,245
Other creditors 98,741 102,193
104,224 137,487

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,765 2,475

Deferred
tax
£   
Balance at 1st June 2023 2,475
Movement in the year (710 )
Balance at 31st May 2024 1,765

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100