Francesca Galloway Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02712370

Francesca Galloway Limited

Filleted Unaudited Financial Statements

31 March 2025

Francesca Galloway Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		12,468	15,051

Current assets

Stocks	6	1,709,198	1,743,160
Debtors	7	531,991	506,435
Cash at bank and in hand		586,068	267,694
		------------	------------
		2,827,257	2,517,289

Creditors: amounts falling due within one year	8	184,293		170,164
		------------		------------
Net current assets			2,642,964	2,347,125
			------------	------------
Total assets less current liabilities			2,655,432	2,362,176

Provisions

Taxation including deferred tax	566	3,664
	------------	------------
Net assets	2,654,866	2,358,512
	------------	------------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	2,653,866	2,357,512
	------------	------------
Shareholder funds	2,654,866	2,358,512
	------------	------------

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 income statement 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 member has 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Francesca Galloway Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 26 June 2025 , and are signed on behalf of the board by:

F .M. Galloway
Director

Company registration number: 02712370

Francesca Galloway Limited

Statement of Changes in Equity

Year ended 31 March 2025

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1 April 2023	1,000	2,189,917	2,190,917

Profit for the year		252,595	252,595
	-------	------------	------------
Total comprehensive income for the year	–	252,595	252,595

Dividends paid and payable	–	( 85,000)	( 85,000)
	-------	------------	------------
Total investments by and distributions to owners	–	( 85,000)	( 85,000)

At 31 March 2024	1,000	2,357,512	2,358,512

Profit for the year		373,354	373,354
	-------	------------	------------
Total comprehensive income for the year	–	373,354	373,354

Dividends paid and payable	–	( 77,000)	( 77,000)
	----	--------	--------
Total investments by and distributions to owners	–	( 77,000)	( 77,000)

	-------	------------	------------
At 31 March 2025	1,000	2,653,866	2,654,866
	-------	------------	------------

Francesca Galloway Limited

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 8Wolsey Mansions, Main Avenue, Northwood, HA6 2HL.

2. 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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:

Short leasehold property	-	over the lease term
Fixtures & Fttings	-	15% reducing balance
Equipment	-	25% reducing balance

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.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 5 ).

4. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	125,423	56,516
Adjustments in respect of prior periods	( 3,269)	( 6,440)
	---------	--------
Total current tax	122,154	50,076
	---------	--------

Deferred tax:

Origination and reversal of timing differences	–	( 510)
	---------	--------
Tax on profit	122,154	49,566
	---------	--------

5. Tangible assets

	Land and buildings	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	78,765	18,043	3,345	100,153
	--------	--------	-------	---------
Depreciation
At 1 April 2024	78,764	5,006	1,332	85,102
Charge for the year	1	1,955	627	2,583
	--------	--------	-------	---------
At 31 March 2025	78,765	6,961	1,959	87,685
	--------	--------	-------	---------
Carrying amount
At 31 March 2025	–	11,082	1,386	12,468
	--------	--------	-------	---------
At 31 March 2024	1	13,037	2,013	15,051
	--------	--------	-------	---------

6. Stocks

	2025	2024
	£	£
Antique textiles,objects and works of art.	1,709,198	1,743,160
	------------	------------

7. Debtors

	2025	2024
	£	£
Trade debtors	513,496	497,030
Other debtors	18,495	9,405
	---------	---------
	531,991	506,435
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	121
Trade creditors	8,133	62,863
Corporation tax	125,423	56,516
Social security and other taxes	1,028	3,497
Other creditors	49,709	47,167
	---------	---------
	184,293	170,164
	---------	---------

9. Director's advances, credits and guarantees

There were none during the year.