REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
CCA Galleries Limited |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
CCA Galleries Limited |
CCA Galleries Limited (Registered number: 02710748) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
CCA Galleries Limited |
COMPANY INFORMATION |
for the Year Ended 31 July 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors and Chartered Accountants |
Units SCF 1 & 2 |
Western International Market |
Hayes Road |
Southall |
Middlesex |
UB2 5XJ |
SOLICITORS: |
6 Bishopsmead Parade |
East Horsley |
Surrey |
KT24 6SR |
CCA Galleries Limited (Registered number: 02710748) |
STATEMENT OF FINANCIAL POSITION |
31 July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
CCA Galleries Limited (Registered number: 02710748) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
CCA Galleries Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about CCA Galleries Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Trevellyan Developments Limited, . |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Computer equipment | - |
Fixtures and fittings | - |
Office equipment | - |
Fixtures and fittings includes solar panels which have been treated as long life fixtures & fittings assets which are being depreciated over 25 years (equivalent to 4% straight line) |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contribution payable are charged to the profit and loss account. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
CCA Galleries Limited (Registered number: 02710748) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST OR VALUATION |
At 1 August 2023 |
Additions |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Cost or valuation at 31 July 2024 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2016 | 228,058 | - | 228,058 |
Valuation in 2017 | (14,897 | ) | - | (14,897 | ) |
Valuation in 2018 | 217,962 | - | 217,962 |
Valuation in 2019 | 1,270,092 | - | 1,270,092 |
Valuation in 2020 | 387,533 | - | 387,533 |
Valuation in 2021 | 218,727 | - | 218,727 |
Valuation in 2023 | (2,307,475 | ) | - | (2,307,475 | ) |
Cost | - | 420,645 | 420,645 |
- | 420,645 | 420,645 |
6. | FIXED ASSET INVESTMENTS |
31.7.24 | 31.7.23 |
£ | £ |
Shares in group undertakings |
Participating interests |
Other investments not loans |
CCA Galleries Limited (Registered number: 02710748) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2024 |
6. | FIXED ASSET INVESTMENTS - continued |
Additional information is as follows: |
Interest |
Shares in | in other |
group | participating |
undertakings | interests | Totals |
£ | £ | £ |
COST |
At 1 August 2023 | 34,000 | 34,100 |
Additions | 50,250 | 50,250 |
At 31 July 2024 | 84,250 | 84,350 |
NET BOOK VALUE |
At 31 July 2024 | 84,250 | 84,350 |
At 31 July 2023 | 34,000 | 34,100 |
Investments (neither listed nor unlisted) were as follows: |
31.7.24 | 31.7.23 |
£ | £ |
Investment in Art Works & Art Hotel | 3,215,723 | 2,795,230 |
The Art bus has been included at the Directors valuation of £470,000. |
The Directors considered that an increase in the valuation from 45% to 50% of the retail price on investments in art works is justified based on the current market. |
This gives an increase in value over the previous year's value of £187,000 based on the previous policy. |
The Directors have revalued the Art Hotel based on the current proposals at £892,000. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Payments on account |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
CCA Galleries Limited (Registered number: 02710748) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2024 |
10. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is Trevellyan Developments Limited. |
The ultimate controlling party is |
12. | UNUSED COMMITED BANK FACILITIES |
As at 31st July 2024 the company had access to the group's unused bank facilities amounting to £9,590,000 under a facility which is cross guaranteed between the holding company and fellow subsidiaries. In addition, group cash balances at 31st July 2024 were £1,660,357 making total funds available of £11,250,357. |