Company Registration No. 04481732 (England and Wales)
The Golden Sheaf Gallery Limited
Unaudited accounts
for the year ended 31 December 2024
The Golden Sheaf Gallery Limited
Statement of financial position
as at 31 December 2024
Tangible assets
28,570
32,228
Inventories
324,380
304,765
Cash at bank and in hand
319,638
358,875
Creditors: amounts falling due within one year
(101,116)
(120,495)
Net current assets
582,286
566,596
Total assets less current liabilities
610,856
598,824
Creditors: amounts falling due after more than one year
(30,939)
(36,037)
Net assets
579,917
562,787
Called up share capital
2
2
Profit and loss account
579,915
562,785
Shareholders' funds
579,917
562,787
For the year ending 31 December 2024 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 her 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 12 September 2024 and were signed on its behalf by
Suzi Somers
Director
Company Registration No. 04481732
The Golden Sheaf Gallery Limited
Notes to the Accounts
for the year ended 31 December 2024
The Golden Sheaf Gallery Limited is a private company, limited by shares, registered in England and Wales, registration number 04481732. The registered office is 25 HIGH STREET, NARBERTH, SA67 7AR, WALES.
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
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
25,910
82,297
-
108,207
At 31 December 2024
25,910
82,297
3,634
111,841
At 1 January 2024
24,963
51,016
-
75,979
Charge for the year
237
7,055
-
7,292
At 31 December 2024
25,200
58,071
-
83,271
At 31 December 2024
710
24,226
3,634
28,570
At 31 December 2023
947
31,281
-
32,228
Amounts falling due within one year
Trade debtors
11,186
23,451
Accrued income and prepayments
1,433
-
The Golden Sheaf Gallery Limited
Notes to the Accounts
for the year ended 31 December 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
29,457
33,215
Taxes and social security
12,910
24,389
Other creditors
(434)
2,704
Deferred income
5,791
5,854
7
Creditors: amounts falling due after more than one year
2024
2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to director
-
26,765
-
26,765
By the end of the year, the director had an overdrawn loan account. This was cleared within 9 months of the year end.
9
Average number of employees
During the year the average number of employees was 12 (2023: 12).