REGISTERED NUMBER: 09574047 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THEGALLERY.COM LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs G S Jones

REGISTERED OFFICE:

3 Archway

Manchester

M15 5QJ

REGISTERED NUMBER:

09574047 (England and Wales)

ACCOUNTANTS:

Williams Denton Cyf

Chartered Certified Accountants

Glaslyn

Ffordd y Parc

Parc Menai

Bangor

Gwynedd

LL57 4FE

FIXED ASSETS

Tangible assets

4

30,289

67,675

Investments

5

1

1

30,290

67,676

CURRENT ASSETS

Debtors

6

23,486,454

22,958,722

Cash at bank

40,977

17,627

23,527,431

22,976,349

CREDITORS

Amounts falling due within one year

100,621

86,651

NET CURRENT ASSETS

23,426,810

22,889,698

TOTAL ASSETS LESS CURRENT LIABILITIES

23,457,100

22,957,374

CREDITORS

Amounts falling due after more than one year

(28,532,449

)

(27,047,490

)

PROVISIONS FOR LIABILITIES

(5,755

)

(12,859

)

NET LIABILITIES

(5,081,104

)

(4,102,975

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(5,081,106

)

(4,102,977

)

(5,081,104

)

(4,102,975

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 September 2025 and were signed by:

Mrs G S Jones - Director

1.	STATUTORY INFORMATION

Thegallery.com 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 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

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

275,188

Additions

15,595

At 31 December 2024

290,783

DEPRECIATION

At 1 January 2024

207,513

Charge for year

52,981

At 31 December 2024

260,494

NET BOOK VALUE

At 31 December 2024

30,289

At 31 December 2023

67,675

5.	FIXED ASSET INVESTMENTS

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and

operating policies of the entity so as to obtain benefits from its activities

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a

long-term interest and where the company has significant influence. The company considers that it has

significant influence where it has the power to participate in the financial and operating decisions of

the associate.

Entities in which the company has a long term interest and shares control under a contractual

arrangement are classified as jointly controlled entities.

6.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed by associates

23,391,959

22,440,011

7.	RELATED PARTY DISCLOSURES

Amounts due to related party entities totalled £1,086,073 as at 31st December 2024 (2023: £1,235,180).

Amounts due from related party entities totalled £23,391,959 as at 31st December 2024 (2023: £22,440,011).

Amounts due to directors totalled £27,446,376 as at 31st December 2024 (2023: £25,812,310).