Oriel Glasfryn Gallery Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11937890

Oriel Glasfryn Gallery Ltd

Filleted Unaudited Financial Statements

31 March 2025

Oriel Glasfryn Gallery Ltd

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		11,273	17,879

Current assets

Stocks		18,704	24,585
Debtors	6	1,616	2,025
Cash at bank and in hand		1,787	14,438
		--------	--------
		22,107	41,048

Creditors: amounts falling due within one year	7	8,328		6,581
		--------		--------
Net current assets			13,779	34,467
			--------	--------
Total assets less current liabilities			25,052	52,346

Creditors: amounts falling due after more than one year	8	35,868	57,080
		--------	--------
Net liabilities		( 10,816)	( 4,734)
		--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 10,817)	( 4,735)
	--------	-------
Shareholders deficit	( 10,816)	( 4,734)
	--------	-------

These 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 March 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Oriel Glasfryn Gallery Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 9 December 2025 , and are signed on behalf of the board by:

Mr D W Roberts
Director

Company registration number: 11937890

Oriel Glasfryn Gallery Ltd

Notes to the Financial Statements

Year ended 31 March 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 Glasfryn Hall, South Street, Caerwys, CH7 5AF.

2. Statement of compliance

These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

	Equipment, furniture & fittings	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 April 2024	36,980	36,980
Additions	447	447
Transfers	( 3,296)	( 3,296)
	--------	--------
At 31 March 2025	34,131	34,131
	--------	--------
Depreciation
At 1 April 2024	19,101	19,101
Charge for the year	3,757	3,757
	--------	--------
At 31 March 2025	22,858	22,858
	--------	--------
Carrying amount
At 31 March 2025	11,273	11,273
	--------	--------
At 31 March 2024	17,879	17,879
	--------	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	139	516
Other debtors	1,477	1,509
	-------	-------
	1,616	2,025
	-------	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	6,171	4,376
Social security and other taxes	1,157	217
Other creditors	1,000	1,988
	-------	-------
	8,328	6,581
	-------	-------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	35,868	57,080
	--------	--------