Registered number
14049863
Gallery Bouldering Ltd
Unaudited Filleted Accounts
30 April 2024
Gallery Bouldering Ltd
Registered number: 14049863
Balance Sheet
as at 30 April 2024
Restated
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 390,138 41,084
Current assets
Debtors 4 20,439 8,510
Cash at bank and in hand 84,729 102,798
105,168 111,308
Creditors: amounts falling due within one year 5 (738,485) (172,003)
Net current liabilities (633,317) (60,695)
Net liabilities (243,179) (19,611)
Capital and reserves
Called up share capital 128 128
Profit and loss account (243,307) (19,739)
Shareholders' funds (243,179) (19,611)
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.
Aeron Morgan Buchanan
Director
Approved by the board on 6 March 2025
Gallery Bouldering Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less cumulative depreciation and any cumulative 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 evenly over its expected useful life, as follows:
Plant and machinery 20% straight line basis
Office equipment 20% straight line basis
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 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.
Creditors
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The company has net liabilities and is therefore dependent upon the continuing support of its creditors and director. On the basis that this support is expected to continue, the accounts have been drawn up on the going concern basis.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 1
3 Tangible fixed assets
Plant and machinery Office equipment Total
£ £ £
Cost
At 1 May 2023 42,091 - 42,091
Additions 372,259 26,320 398,579
At 30 April 2024 414,350 26,320 440,670
Depreciation
At 1 May 2023 1,007 - 1,007
Charge for the year 47,205 2,320 49,525
At 30 April 2024 48,212 2,320 50,532
Net book value
At 30 April 2024 366,138 24,000 390,138
At 30 April 2023 41,084 - 41,084
4 Debtors 2024 2023
£ £
Other debtors 20,439 8,510
Restated
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 236 -
Other creditors 738,249 172,003
738,485 172,003
6 Other information
Gallery Bouldering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 8 The Gallery
54 Marston Street
Oxford
Oxfordshire
OX4 1LF
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