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REGISTERED NUMBER: 07563046 (England and Wales)















FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024

FOR

Willow Gallery Ltd

Willow Gallery Ltd (Registered number: 07563046)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Willow Gallery Ltd

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024







DIRECTORS: A K Stevens
Mrs J P Stevens
A Forrester





REGISTERED OFFICE: Sherwood House
41 Queens Road
Farnborough
Hants
GU14 6JP





REGISTERED NUMBER: 07563046 (England and Wales)





ACCOUNTANTS: Jones & Co
Sherwood House
41 Queens Road
Farnborough
Hants
GU14 6JP

Willow Gallery Ltd (Registered number: 07563046)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 90,000 105,000
Tangible assets 5 21,959 23,670
111,959 128,670

CURRENT ASSETS
Stocks 2,117,214 2,249,407
Debtors 6 168,892 380,043
Cash at bank 559,612 510,877
2,845,718 3,140,327
CREDITORS
Amounts falling due within one year 7 293,105 393,343
NET CURRENT ASSETS 2,552,613 2,746,984
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,664,572

2,875,654

CREDITORS
Amounts falling due after more than one year 8 1,300,000 1,300,000
NET ASSETS 1,364,572 1,575,654

CAPITAL AND RESERVES
Called up share capital 8 10
Capital redemption reserve 2 -
A Ordinary Reserves - 1,275
Ordinary Reserves 1,364,562 1,574,369
SHAREHOLDERS' FUNDS 1,364,572 1,575,654

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

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

The directors acknowledge their 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 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 Board of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by:



A K Stevens - Director


Willow Gallery Ltd (Registered number: 07563046)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Willow Gallery Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents the invoiced sale of goods net of value added tax and is recognised at the point of sale.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of seventeen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 12.5% on reducing balance
Fixtures and fittings - 20% on reducing balance
Office equipment - 20% on 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.

Taxation
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.

Deferred tax
Deferred tax is not recognised in respect of any timing differences which may have originated but not been reversed at the balance sheet date since the amount is not considered material.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2024 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 30 September 2024 300,000
AMORTISATION
At 1 April 2024 195,000
Amortisation for period 15,000
At 30 September 2024 210,000
NET BOOK VALUE
At 30 September 2024 90,000
At 31 March 2024 105,000

Willow Gallery Ltd (Registered number: 07563046)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 30 SEPTEMBER 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Office
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2024
and 30 September 2024 91,727 52,836 23,057 167,620
DEPRECIATION
At 1 April 2024 74,232 49,583 20,135 143,950
Charge for period 1,093 326 292 1,711
At 30 September 2024 75,325 49,909 20,427 145,661
NET BOOK VALUE
At 30 September 2024 16,402 2,927 2,630 21,959
At 31 March 2024 17,495 3,253 2,922 23,670

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.3.24
£    £   
Trade debtors 8,326 119,377
Other debtors 160,566 260,666
168,892 380,043

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.3.24
£    £   
Trade creditors 174,241 289,929
Taxation and social security 439 439
Other creditors 118,425 102,975
293,105 393,343

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The long term creditor of £1,300,000 (March 2024: £1,300,000) is made up of a long term loan from the Director.