Registered number
10841388
Japanese Gallery Angel Ltd
Filleted Accounts
30 June 2024
Japanese Gallery Angel Ltd
Registered number: 10841388
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 313 466
Current assets
Stocks 266,196 226,529
Debtors 4 2,230 4,092
Cash at bank and in hand 499,588 532,643
768,014 763,264
Creditors: amounts falling due within one year 5 (207,237) (203,857)
Net current assets 560,777 559,407
Total assets less current liabilities 561,090 559,873
Creditors: amounts falling due after more than one year 6 - (7,320)
Net assets 561,090 552,553
Capital and reserves
Called up share capital 100 100
Profit and loss account 560,990 552,453
Shareholders' funds 561,090 552,553
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Wertheim
Director
Approved by the board on 6 February 2025
Japanese Gallery Angel Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 33% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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 recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 3,416
At 30 June 2024 3,416
Depreciation
At 1 July 2023 2,950
Charge for the year 153
At 30 June 2024 3,103
Net book value
At 30 June 2024 313
At 30 June 2023 466
4 Debtors 2024 2023
£ £
Trade debtors 2,230 4,092
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 256 2,657
Taxation and social security costs 14,317 16,432
Other creditors 192,664 184,768
207,237 203,857
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors - 7,320
7 Other information
Japanese Gallery Angel Ltd is a private company limited by shares and incorporated in England. Its registered office is:
23 Camden Passage
London
England
N1 8EA
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