Company Registration No. SC284973 (Scotland)
MERCHANT GATE GALLERY LIMITED
Unaudited accounts
for the year ended 31 May 2025
MERCHANT GATE GALLERY LIMITED
Unaudited accounts
Contents
MERCHANT GATE GALLERY LIMITED
Company Information
for the year ended 31 May 2025
Company Number
SC284973 (Scotland)
Registered Office
111 SALTMARKET
GLASGOW
G1 5LF
SCOTLAND
Accountants
brand jamieson co
2 Victoria Place
Rutherglen
Glasgow
G73 2JP
MERCHANT GATE GALLERY LIMITED
Statement of financial position
as at 31 May 2025
Cash at bank and in hand
123,972
136,691
Creditors: amounts falling due within one year
(10,132)
(11,968)
Net current assets
122,115
133,743
Net assets
122,486
134,180
Called up share capital
100
100
Profit and loss account
122,386
134,080
Shareholders' funds
122,486
134,180
For the year ending 31 May 2025 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 September 2025 and were signed on its behalf by
CRAIG BURNISTON
Director
Company Registration No. SC284973
MERCHANT GATE GALLERY LIMITED
Notes to the Accounts
for the year ended 31 May 2025
MERCHANT GATE GALLERY LIMITED is a private company, limited by shares, registered in Scotland, registration number SC284973. The registered office is 111 SALTMARKET, GLASGOW, G1 5LF, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% reducing balance.
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Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2024
2,752
4,167
6,919
At 31 May 2025
2,752
4,167
6,919
At 1 June 2024
2,752
3,730
6,482
Charge for the year
-
66
66
At 31 May 2025
2,752
3,796
6,548
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Creditors: amounts falling due within one year
2025
2024
Trade creditors
1,437
1,099
Taxes and social security
2,541
4,870
Loans from directors
1,549
1,571
MERCHANT GATE GALLERY LIMITED
Notes to the Accounts
for the year ended 31 May 2025
6
Transactions with related parties
During the year , dividends of £20,460 ( 2024 £ 2,280 ) were paid to the director.
The controlling party is the director Craig Burniston.
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Average number of employees
During the year the average number of employees was 2 (2024: 2).