Gallery Bouldering Ltd |
Notes to the Accounts |
for the year ended 30 April 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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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. |
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Turnover |
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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. |
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Tangible fixed assets |
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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: |
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Plant and machinery |
20% straight line basis |
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Office equipment |
20% straight line basis |
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Debtors |
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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. |
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Creditors |
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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. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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Going concern |
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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. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
14 |
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1 |
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3 |
Tangible fixed assets |
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Plant and machinery |
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Office equipment |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 May 2023 |
42,091 |
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- |
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42,091 |
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Additions |
372,259 |
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26,320 |
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398,579 |
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At 30 April 2024 |
414,350 |
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26,320 |
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440,670 |
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Depreciation |
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At 1 May 2023 |
1,007 |
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- |
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1,007 |
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Charge for the year |
47,205 |
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2,320 |
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49,525 |
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At 30 April 2024 |
48,212 |
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2,320 |
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50,532 |
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Net book value |
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At 30 April 2024 |
366,138 |
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24,000 |
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390,138 |
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At 30 April 2023 |
41,084 |
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- |
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41,084 |
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4 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Other debtors |
20,439 |
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8,510 |
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Restated |
5 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Corporation tax |
236 |
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- |
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Other creditors |
738,249 |
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172,003 |
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738,485 |
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172,003 |
6 |
Other information |
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Gallery Bouldering Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Unit 8 The Gallery |
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54 Marston Street |
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Oxford |
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Oxfordshire |
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OX4 1LF |