Registration number: 10127569

Hetzler Gallery London Limited

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Hetzler Gallery London Limited

Company Information

Director

M E F Hetzler

Registered office

1st Floor 41 Dover Street London W1S 4NS

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Hetzler Gallery London Limited

Statement of Financial Position as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	54,201	57,446
Current assets
Stocks	5	184,225	445,295
Debtors	6	1,365,696	827,639
Cash at bank and in hand		840,944	663,225
		2,390,865	1,936,159
Creditors: Amounts falling due within one year	7	(1,430,242)	(1,184,119)
Net current assets		960,623	752,040
Total assets less current liabilities		1,014,824	809,486
Provisions for liabilities		(12,301)	-
Net assets		1,002,523	809,486
Capital and reserves
Called up share capital		200	200
Retained earnings		1,002,323	809,286
Shareholders' funds		1,002,523	809,486

For the financial 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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Hetzler Gallery London Limited

Statement of Financial Position as at 30 April 2025

The director of Hetzler Gallery London Limited has elected not to include a copy of the profit and loss account within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the director on 21 October 2025
 

.........................................

M E F Hetzler

Director

Company registration number: 10127569

Hetzler Gallery London Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor
41 Dover Street
London
W1S 4NS

The principal activity of the company is that of the operation of an art gallery.

2	Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Going concern

The company had net assets at 30 April 2025 of £1,002,523 including cash at bank of £840,944.

The director does not believe that current economic conditions will have a material effect on the company.

After making enquiries and taking into account the above, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of consultancy services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue from the sale of artwork at the point of legal transfer of ownership to the customer. Consultancy income is recognised evenly over the period in which services are delivered.

Hetzler Gallery London Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:

Asset class	Depreciation method and rate
Leasehold Improvements	33% straight-line
Fittings & Equipment	33% straight-line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Hetzler Gallery London Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company during the year, was 9 (2024 - 10).

4	Tangible assets

	Leasehold Improvements £	Fittings & Equipment  £	Total £
Cost or valuation
At 1 May 2024	192,941	92,857	285,798
Additions	-	25,848	25,848
At 30 April 2025	192,941	118,705	311,646
Depreciation
At 1 May 2024	167,832	60,520	228,352
Charge for the year	9,339	19,754	29,093
At 30 April 2025	177,171	80,274	257,445
Carrying amount
At 30 April 2025	15,770	38,431	54,201
At 30 April 2024	25,109	32,337	57,446

Hetzler Gallery London Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

5

Stocks

	2025 £	2024 £
Stock	184,225	445,295

6

Debtors

	2025 £	2024 £
Trade debtors	1,014,212	429,668
Other debtors	351,484	397,971
	1,365,696	827,639

Other debtors includes an amount of £84,000 (2024 - £84,000) recoverable in greater than one year.

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Trade creditors	277,197	648,572
Taxation and social security	47,560	18,130
Accruals and deferred income	1,073,015	467,974
Other creditors	32,470	49,443
	1,430,242	1,184,119