Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-01true2024-01-01falseoperation of an art gallery32falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14775704 2024-01-01 2024-12-31 14775704 2023-04-03 2023-12-31 14775704 2024-12-31 14775704 2023-12-31 14775704 c:Director1 2024-01-01 2024-12-31 14775704 d:FurnitureFittings 2024-01-01 2024-12-31 14775704 d:FurnitureFittings 2024-12-31 14775704 d:FurnitureFittings 2023-12-31 14775704 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14775704 d:ComputerEquipment 2024-01-01 2024-12-31 14775704 d:ComputerEquipment 2024-12-31 14775704 d:ComputerEquipment 2023-12-31 14775704 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14775704 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 14775704 d:CurrentFinancialInstruments 2024-12-31 14775704 d:CurrentFinancialInstruments 2023-12-31 14775704 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 14775704 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 14775704 d:ShareCapital 2024-12-31 14775704 d:ShareCapital 2023-12-31 14775704 d:RetainedEarningsAccumulatedLosses 2024-12-31 14775704 d:RetainedEarningsAccumulatedLosses 2023-12-31 14775704 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-12-31 14775704 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 14775704 c:OrdinaryShareClass1 2024-01-01 2024-12-31 14775704 c:OrdinaryShareClass1 2024-12-31 14775704 c:OrdinaryShareClass1 2023-12-31 14775704 c:FRS102 2024-01-01 2024-12-31 14775704 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 14775704 c:FullAccounts 2024-01-01 2024-12-31 14775704 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14775704 d:WithinOneYear 2024-12-31 14775704 d:WithinOneYear 2023-12-31 14775704 d:BetweenOneFiveYears 2024-12-31 14775704 d:BetweenOneFiveYears 2023-12-31 14775704 2 2024-01-01 2024-12-31 14775704 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14775704









SUNDARAM TAGORE GALLERY UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SUNDARAM TAGORE GALLERY UK LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
SUNDARAM TAGORE GALLERY UK LIMITED
REGISTERED NUMBER: 14775704

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,416
4,922

  
5,416
4,922

Current assets
  

Debtors: amounts falling due within one year
 5 
35,537
258,935

Cash at bank and in hand
 6 
72,594
39,641

  
108,131
298,576

Creditors: amounts falling due within one year
 7 
(731,170)
(496,193)

Net current liabilities
  
 
 
(623,039)
 
 
(197,617)

Total assets less current liabilities
  
(617,623)
(192,695)

  

Net liabilities
  
(617,623)
(192,695)


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(617,723)
(192,795)

  
(617,623)
(192,695)


Page 1

 
SUNDARAM TAGORE GALLERY UK LIMITED
REGISTERED NUMBER: 14775704
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S Tagore
Director

Date: 1 May 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SUNDARAM TAGORE GALLERY UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Sundaram Tagore Gallery UK Limited is a private company, limited by shares, incorporated in England and Wales with registration number of 14775704. The registered office is Eighth Floor, 6 New Street Square, New Fetter Lane, London, EC4A 3AQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The company expects the continued support of the shareholder and director, who has confirmed that he will provide such financial support as is necessary for the company to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing of the financial statements of the company.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SUNDARAM TAGORE GALLERY UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
SUNDARAM TAGORE GALLERY UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
using the straight-line method
Computer equipment
-
25%
using the straight-line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
SUNDARAM TAGORE GALLERY UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
3,610
2,273
5,883


Additions
2,516
-
2,516



At 31 December 2024

6,126
2,273
8,399



Depreciation


At 1 January 2024
675
286
961


Charge for the year on owned assets
1,454
568
2,022



At 31 December 2024

2,129
854
2,983



Net book value



At 31 December 2024
3,997
1,419
5,416

Page 6

 
SUNDARAM TAGORE GALLERY UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
-
233,920

Other debtors
25,056
17,303

Called up share capital not paid
100
100

Prepayments and accrued income
10,381
7,612

35,537
258,935



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
72,594
39,641

72,594
39,641



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
348,821
99,409

Other taxation and social security
4,588
5,058

Other creditors
367,636
381,191

Accruals and deferred income
10,125
10,535

731,170
496,193



8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
72,594
39,641




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

Page 7

 
SUNDARAM TAGORE GALLERY UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and partly paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. Contributions totalling £257 (2023 - £257) were payable to the fund at the balance sheet date and are included in creditors.


11.


Commitments under operating leases

At 31 December 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
10,608
127,300

Later than 1 year and not later than 5 years
-
10,608

10,608
137,908

 
Page 8