COMPANY REGISTRATION NUMBER:
04247608
|
The Appliance Gallery Limited |
|
|
Filleted Unaudited Abridged Financial Statements |
|
|
The Appliance Gallery Limited |
|
|
Abridged Statement of Financial Position |
|
31 July 2025
Fixed assets
|
Tangible assets |
5 |
|
185,482 |
243,860 |
|
|
|
|
|
Current assets
|
Stocks |
46,635 |
|
21,483 |
|
Debtors |
33,907 |
|
6,974 |
|
Cash at bank and in hand |
496,172 |
|
509,974 |
|
--------- |
|
--------- |
|
576,714 |
|
538,431 |
|
|
|
|
|
Creditors: amounts falling due within one year |
238,235 |
|
212,325 |
|
--------- |
|
--------- |
|
Net current assets |
|
338,479 |
326,106 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
523,961 |
569,966 |
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
11,550 |
15,132 |
|
|
--------- |
--------- |
|
Net assets |
|
512,411 |
554,834 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
100 |
100 |
|
Profit and loss account |
|
512,311 |
554,734 |
|
|
--------- |
--------- |
|
Shareholders funds |
|
512,411 |
554,834 |
|
|
--------- |
--------- |
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 July 2025 in accordance with Section 444(2A) of the Companies Act 2006.
|
The Appliance Gallery Limited |
|
|
Abridged Statement of Financial Position (continued) |
|
31 July 2025
These abridged financial statements were approved by the
board of directors
and authorised for issue on
25 November 2025
, and are signed on behalf of the board by:
Company registration number:
04247608
|
The Appliance Gallery Limited |
|
|
Notes to the Abridged Financial Statements |
|
Year ended 31 July 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ashford House, 95 Dixons Green, Dudley, West Midlands.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold property |
- |
50 years
|
|
Fixtures and fittings |
- |
7 years
|
|
Motor vehicles |
- |
4 years
|
|
|
|
|
Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2024:
7
).
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 August 2024 |
392,597 |
|
Disposals |
(
42,525) |
|
--------- |
|
At 31 July 2025 |
350,072 |
|
--------- |
|
Depreciation |
|
|
At 1 August 2024 |
148,736 |
|
Charge for the year |
26,485 |
|
Disposals |
(
10,631) |
|
--------- |
|
At 31 July 2025 |
164,590 |
|
--------- |
|
Carrying amount |
|
|
At 31 July 2025 |
185,482 |
|
--------- |
|
At 31 July 2024 |
243,861 |
|
--------- |
|
|
6.
Directors' advances, credits and guarantees
The directors made loans to the company during the year. The loan were interest free and repayable on demand. The balance outstanding at 31st July 2025 was £19,521 (2024 £19,521).
7.
Controlling party
P.C. Mulligan, T Mulligan and family control the company as a result of controlling 100% of the issued share capital.