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REGISTERED NUMBER: 10729522 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

THE HOCKNEY GALLERY LIMITED

THE HOCKNEY GALLERY LIMITED (REGISTERED NUMBER: 10729522)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


THE HOCKNEY GALLERY LIMITED (REGISTERED NUMBER: 10729522)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 5,467 5,315

CURRENT ASSETS
Stocks 5 21,500 25,000
Debtors 6 51,887 11,041
Cash at bank 89,020 71,674
162,407 107,715
CREDITORS
Amounts falling due within one year 7 155,457 77,854
NET CURRENT ASSETS 6,950 29,861
TOTAL ASSETS LESS CURRENT LIABILITIES 12,417 35,176

CREDITORS
Amounts falling due after more than one
year

8

(10,962

)

(20,218

)

PROVISIONS FOR LIABILITIES 10 (1,367 ) (1,033 )
NET ASSETS 88 13,925

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 87 13,924
SHAREHOLDERS' FUNDS 88 13,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE HOCKNEY GALLERY LIMITED (REGISTERED NUMBER: 10729522)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 May 2025 and were signed by:





S Clark - Director


THE HOCKNEY GALLERY LIMITED (REGISTERED NUMBER: 10729522)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

The Hockney Gallery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10729522

Registered office: 27 Old Gloucester Street
London
WC1N 3AX

The presentation currency of the financial statements is the Pound Sterling (£).


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 historical cost convention.

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.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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.
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

THE HOCKNEY GALLERY LIMITED (REGISTERED NUMBER: 10729522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
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 and amounted to £206 (2023 - £nil). Contributions totalling £94 (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.

Debtors
Short term debtors are initially measured at transaction price less attributable costs. 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.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. 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.

THE HOCKNEY GALLERY LIMITED (REGISTERED NUMBER: 10729522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 9,756
Additions 2,532
At 30 April 2024 12,288
DEPRECIATION
At 1 May 2023 4,441
Charge for year 2,380
At 30 April 2024 6,821
NET BOOK VALUE
At 30 April 2024 5,467
At 30 April 2023 5,315

5. STOCKS
2024 2023
£    £   
Stocks 21,500 25,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,500 -
Other debtors 24,387 11,041
51,887 11,041

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 9,903 9,903
Trade creditors 55,545 26,868
Taxation and social security 86,134 35,569
Other creditors 3,875 5,514
155,457 77,854

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 10,962 20,218

THE HOCKNEY GALLERY LIMITED (REGISTERED NUMBER: 10729522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,903 9,903

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,903 9,903

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,059 10,315

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,367 1,033

Deferred
tax
£   
Balance at 1 May 2023 1,033
Provided during year 334
Balance at 30 April 2024 1,367

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
S Clark
Balance outstanding at start of year (1,976 ) (32 )
Amounts advanced 341,695 115,894
Amounts repaid (327,208 ) (117,838 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,511 (1,976 )

The loan is unsecured, repayable on demand and subject to interest at HMRC official interest rates.

THE HOCKNEY GALLERY LIMITED (REGISTERED NUMBER: 10729522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


13. RELATED PARTY DISCLOSURES

During the year, total dividends of £170,900 (2023 - £125,000) were paid to the director .

14. ULTIMATE CONTROLLING PARTY

The controlling party is S Clark.