Company registration number: NI645389
Unaudited financial statements
for the year ended 30 November 2024
for
Yard Gallery Ltd
Pages for filing with the Registrar
Company registration number: NI645389
Yard Gallery Ltd
Balance sheet
as at 30 November 2024
ERROR: Balance sheet does not balance
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 182,726 190,265
182,726 190,265
Current assets
Stocks 42,000 41,750
Debtors 47,285 22,910
Cash at bank and in hand 83,266 75,774
172,551 140,434
Creditors: amounts falling due within one
year
(82,597) (48,402)
Net current assets 89,954 92,032
Total assets less current liabilities 272,680 282,297
Creditors: Amounts falling due after more
than one year
(54,701) (54,701)
NET ASSETS 217,979 227,596
Capital and reserves
Called up share capital 100 100
Profit and loss account 217,879 227,495
TOTAL EQUITY 217,979 227,595
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 November 2024.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: NI645389
Yard Gallery Ltd
Balance sheet - continued
as at 30 November 2024
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 20 May 2025 and signed on its behalf by:
Mr J Beattie, Director Mrs N Beattie, Director
20 May 2025 20 May 2025
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Yard Gallery Ltd
Notes to the financial statements
for the year ended 30 November 2024
1 Company information
Yard Gallery Ltd is a private company registered in Northern Ireland. Its registered number is NI645389. The company is limited by shares. Its registered office is 106 High Street, Holywood, County Down, BT18 9HW.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Freehold Property - 0% reducing balance
Plant and machinery etc.:
Fixtures & Fittings - 15% reducing balance
Computer equipment - 15% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
3
Yard Gallery Ltd
Notes to the financial statements - continued
for the year ended 30 November 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 6 (2023 - 5).
4 Tangible fixed assets
Land and
buildings
Plant and
machinery
etc.
Totals
£ £ £
Cost
At 1 December 2023 140,000 88,671 228,671
At 30 November 2024 140,000 88,671 228,671
Depreciation
At 1 December 2023 - 38,406 38,406
Charge for year - 7,539 7,539
At 30 November 2024 - 45,945 45,945
Net book value
At 30 November 2024 140,000 42,726 182,726
At 30 November 2023 140,000 50,265 190,265
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Yard Gallery Ltd
Notes to the financial statements - continued
for the year ended 30 November 2024
4 Tangible fixed assets - continued
If ENTER REVALUED CLASS had not been revalued, it would have been included at the following historical cost:
2024 2023
£ £
Cost - 140,000
Accumulated depreciation - -
5 Advances, credit and guarantees granted to directors
The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023.
2024 2023
£ £
James Beattie
Amounts repaid (16,773) -
Balance outstanding at end of year (16,773) -
2024 2023
£ £
Nicola Beattie
Amounts repaid (15,220) -
Balance outstanding at end of year (15,220) -
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