Acorah Software Products - Accounts Production 16.2.850 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 05486113 D Gray S Gaiger iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05486113 2022-12-31 05486113 2023-12-31 05486113 2023-01-01 2023-12-31 05486113 frs-core:CurrentFinancialInstruments 2023-12-31 05486113 frs-core:Non-currentFinancialInstruments 2023-12-31 05486113 frs-core:ShareCapital 2023-12-31 05486113 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 05486113 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05486113 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 05486113 frs-bus:SmallEntities 2023-01-01 2023-12-31 05486113 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05486113 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05486113 frs-bus:Director1 2023-01-01 2023-12-31 05486113 frs-bus:Director2 2023-01-01 2023-12-31 05486113 frs-countries:EnglandWales 2023-01-01 2023-12-31 05486113 2021-12-31 05486113 2022-12-31 05486113 2022-01-01 2022-12-31 05486113 frs-core:CurrentFinancialInstruments 2022-12-31 05486113 frs-core:Non-currentFinancialInstruments 2022-12-31 05486113 frs-core:ShareCapital 2022-12-31 05486113 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 05486113
Grant Bradley Galleries Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 05486113
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 5,902,406 4,493,573
Debtors 4 18 5,385
Cash at bank and in hand 68 553
5,902,492 4,499,511
Creditors: Amounts Falling Due Within One Year 5 (5,989,336 ) (2,604,659 )
NET CURRENT ASSETS (LIABILITIES) (86,844 ) 1,894,852
TOTAL ASSETS LESS CURRENT LIABILITIES (86,844 ) 1,894,852
Creditors: Amounts Falling Due After More Than One Year 6 - (1,873,769 )
NET (LIABILITIES)/ASSETS (86,844 ) 21,083
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account (86,846 ) 21,081
SHAREHOLDERS' FUNDS (86,844) 21,083
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
D Gray
Director
09/05/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Grant Bradley Galleries Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05486113 . The registered office is Number One Bristol Office 1, Lewins Mead, Bristol, Avon, BS1 2NJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis.
2.3. 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 and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
Page 2
Page 3
4. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 2,791
Other debtors 18 2,594
18 5,385
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 46,624 4,128
Bank loans and overdrafts 2,998,647 -
Other loans 418,000 -
VAT - 1,015
Other creditors 2,455,919 2,564,990
Accruals and deferred income 70,146 34,526
5,989,336 2,604,659
The bank loan facility is secured by a fixed and floating charge over the company's assets and a personal guarantee from the directors S Gaiger and G Grant, limited to £498,213. The loan carries variable interest at the LIBOR rate plus 6.25%. The final instalment is due in March 2024.

The other loan facility is secured by a secondary fixed and floating charge over the company's assets and a personal guarantee from the directors. The loan carries a fixed monthly fee. The final instalment is due in October 2024.
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 1,873,769
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
8. Post Balance Sheet Events
In August 2024 DG Consult (Galashiels) Limited acquired the entire share capital of the company from P G Properties Limited thus becoming the controlling party.
9. Related Party Transactions
During the year the company made a loan of £105,280 to PG Construction Management Holdings Limited, a company with common directorship . After the reporting date PG Construction Management Holdings Limited were subject to a winding-up order and the directors have concluded it is unlikely the loan will be repaid and have made a provision accordingly.

The company has received a loan from its parent company, P G Properties Limited. At the reporting date the company owed £2,371,457 (2022: £2,390,578). The loan is included in other creditors due less than one year.

The company has received a loan from PG Enterprises Limited, a subsidiary of its parent company. At the reporting date the company owed £71,462 (2022: £164,410). The loan is included in other creditors due less than one year.

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