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CFA GALLERIES LTD
Financial Statements
For The Year Ended 30 April 2025
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 08533980
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 5,884 6,105
5,884 6,105
CURRENT ASSETS
Debtors 4 702 720
Cash at bank and in hand 32,060 35,054
32,762 35,774
Creditors: Amounts Falling Due Within One Year 5 (7,231 ) (5,496 )
NET CURRENT ASSETS (LIABILITIES) 25,531 30,278
TOTAL ASSETS LESS CURRENT LIABILITIES 31,415 36,383
NET ASSETS 31,415 36,383
CAPITAL AND RESERVES
Called up share capital 6 10 10
Profit and Loss Account 31,405 36,373
SHAREHOLDERS' FUNDS 31,415 36,383
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Bradley Carnes
Director
1st September 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2. Turnover
Turnover comprises commission income and the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery - 20% on reducing balance
Motor Vehicles - 25% on reducing balance
2. Average Number of Employees
Average number of employees, including directors, during the current and previous year was one. 1 (2024: 1)
1 1
3. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 May 2024 11,711 7,787 19,498
Additions 1,299 - 1,299
As at 30 April 2025 13,010 7,787 20,797
Depreciation
As at 1 May 2024 6,386 7,007 13,393
Provided during the period 1,325 195 1,520
As at 30 April 2025 7,711 7,202 14,913
Net Book Value
As at 30 April 2025 5,299 585 5,884
As at 1 May 2024 5,325 780 6,105
4. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income 702 720
5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Corporation tax 6,538 4,653
Other creditors 659 659
Director's loan account 34 184
7,231 5,496
Page 2
Page 3
6. Share Capital
2025 2024
Allotted, called up and fully paid £ £
10 Ordinary Shares of £ 1.00 each 10 10
7. Directors Advances, Credits and Guarantees
Dividends paid to directors
2025 2024
£ £
Mr Bradley Carnes 33,500 1,000
8. Dividends
2025 2024
£ £
On equity shares:
Interim dividend paid 33,500 1,000
9. Ultimate Controlling Party
The company's ultimate controlling party is Mr B M Carnes by virtue of his ownership of 100% of the issued share capital in the company.
Page 3