Acorah Software Products - Accounts Production 16.7.461 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 03220745 Mr Alastair Withenshaw Mrs Rosemary Withenshaw Mrs Rosemary Withenshaw iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03220745 2024-03-31 03220745 2025-03-31 03220745 2024-04-01 2025-03-31 03220745 frs-core:CurrentFinancialInstruments 2025-03-31 03220745 frs-core:Non-currentFinancialInstruments 2025-03-31 03220745 frs-core:ComputerEquipment 2025-03-31 03220745 frs-core:ComputerEquipment 2024-04-01 2025-03-31 03220745 frs-core:ComputerEquipment 2024-03-31 03220745 frs-core:FurnitureFittings 2025-03-31 03220745 frs-core:FurnitureFittings 2024-04-01 2025-03-31 03220745 frs-core:FurnitureFittings 2024-03-31 03220745 frs-core:InvestmentPropertyIncludedWithinPPE 2025-03-31 03220745 frs-core:InvestmentPropertyIncludedWithinPPE 2024-04-01 2025-03-31 03220745 frs-core:InvestmentPropertyIncludedWithinPPE 2024-03-31 03220745 frs-core:MotorVehicles 2024-04-01 2025-03-31 03220745 frs-core:PlantMachinery 2025-03-31 03220745 frs-core:PlantMachinery 2024-04-01 2025-03-31 03220745 frs-core:PlantMachinery 2024-03-31 03220745 frs-core:ShareCapital 2025-03-31 03220745 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 03220745 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03220745 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 03220745 frs-bus:SmallEntities 2024-04-01 2025-03-31 03220745 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 03220745 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 03220745 frs-bus:Director1 2024-04-01 2025-03-31 03220745 frs-bus:Director2 2024-04-01 2025-03-31 03220745 frs-bus:CompanySecretary1 2024-04-01 2025-03-31 03220745 frs-countries:EnglandWales 2024-04-01 2025-03-31 03220745 2023-03-31 03220745 2024-03-31 03220745 2023-04-01 2024-03-31 03220745 frs-core:CurrentFinancialInstruments 2024-03-31 03220745 frs-core:Non-currentFinancialInstruments 2024-03-31 03220745 frs-core:ShareCapital 2024-03-31 03220745 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 03220745
Gallery 88 Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Gallery 88 Ltd
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
Gallery 88 Ltd
Balance Sheet
As At 31 March 2025
Balance Sheet
Registered number: 03220745

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 1,606,765 |  | 1,609,341
|  |  | 1,606,765 |  | 1,609,341
CURRENT ASSETS
Debtors | 5 | 52,994 |  | 56,674 |
Cash at bank and in hand |  | 576,805 |  | 609,784 |
|  | 629,799 |  | 666,458 |
Creditors: Amounts Falling Due Within One Year | 6 | (28,377 ) |  | (31,009 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 601,422 |  | 635,449
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 2,208,187 |  | 2,244,790
PROVISIONS FOR LIABILITIES
Deferred Taxation | 7 |  | (6,186 ) |  | (13,141 )
NET ASSETS |  |  | 2,202,001 |  | 2,231,649
CAPITAL AND RESERVES
Called up share capital | 8 |  | 100 |  | 100
Profit and Loss Account |  |  | 2,201,901 |  | 2,231,549
SHAREHOLDERS' FUNDS |  |  | 2,202,001 |  | 2,231,649

Page 1
Page 2
Gallery 88 Ltd
Balance Sheet (continued)
As At 31 March 2025
For the year ending 31 March 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 directors acknowledge their 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

Mrs Rosemary Withenshaw Director
02/12/2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Gallery 88 Ltd
Notes to the Financial Statements
For The Year Ended 31 March 2025
Notes to the Financial Statements
1. General Information
Gallery 88 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03220745 . The registered office is Castle Hill Farm Oast, Tonbridge, Kent, TN11 0QG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling , which is the functional currency of the company.
Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 | 25% reducing balance
Motor Vehicles | 25% reducing balance
Fixtures & Fittings | 25% reducing balance
Computer Equipment | 25% reducing balance

2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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Gallery 88 Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 4)
3 4
4. Tangible Assets

| Investment Properties | Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Cost or Valuation
As at 1 April 2024 | 1,600,144 | 25,191 | 586 | 7,854 | 1,633,775
Additions | - | - | 421 | - | 421
Disposals | - | - | - | (2,498 ) | (2,498 )
As at 31 March 2025 | 1,600,144 | 25,191 | 1,007 | 5,356 | 1,631,698
Depreciation
As at 1 April 2024 | - | 19,564 | 586 | 4,284 | 24,434
Provided during the period | - | 1,406 | 105 | 695 | 2,206
Disposals | - | - | - | (1,707 ) | (1,707 )
As at 31 March 2025 | - | 20,970 | 691 | 3,272 | 24,933
Net Book Value
As at 31 March 2025 | 1,600,144 | 4,221 | 316 | 2,084 | 1,606,765
As at 1 April 2024 | 1,600,144 | 5,627 | - | 3,570 | 1,609,341

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Page 5
Gallery 88 Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
Investment property comprises freehold buildings. An independent valuation has not been carried out in the current or previous year but the fair value of the investment property has been determined by the Directors. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.
If investment properties held by the company were stated on an historical cost basis rather than fair value basis the amounts as at 31st March 2024 would be £1,522,760 (2023:£1,522,760).
5. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 2,994 |  | 6,674
Due after more than one year
Other debtors | 50,000 |  | 50,000
| 52,994 |  | 56,674

6. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 1 |  | -
Corporation tax | - |  | 3,764
Other taxes and social security | 701 |  | 550
VAT | - |  | 4,374
Other creditors | 5,000 |  | 5,000
Accruals and deferred income | 3,500 |  | 5,317
Directors' loan accounts | 19,175 |  | 12,004
| 28,377 |  | 31,009

7. Deferred Taxation
The provision for deferred tax is made up as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Other timing differences | 6,186 |  | 13,141

8. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100 |  | 100

9. Reserves
Other reserves comprises the fair value reserve on investment properties and the balance as at 31 March 2025 was £65,991 (2024: £65,991).
The fair value reserve represents the change in the fair value of investment properties and the deferred tax provided on these fair value changes if applicable.
10. Related Party Transactions
During the year, the company was under joint control of its directors. At 31 March 2025, amounts due from the company to the directors were £21,503 (2024: £12,004) this amount is included within creditors. There are no set repayment terms and no interest is being charged on the loans.
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