ACCOUNTS - Final Accounts preparation

Registered number: 11305652

PONTONE GALLERY (US) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2025

PONTONE GALLERY (US) LIMITED

REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PONTONE GALLERY (US) LIMITED
FOR THE YEAR ENDED 31 MAY 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pontone Gallery (US) Limited for the year ended 31 May 2025 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas -framework-preparation -of-accounts.

This report is made solely to the director of Pontone Gallery (US) Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Pontone Gallery (US) Limited and state those matters that we have agreed to state to the director of Pontone Gallery (US) Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://icas.com/icas -framework-preparation -of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pontone Gallery (US) Limited and its director for our work or for this report.

It is your duty to ensure that Pontone Gallery (US) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pontone Gallery (US) Limited. You consider that Pontone Gallery (US) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Pontone Gallery (US) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Milton Avis LLP

Chartered Accountants

Pitt House

120 Baker Street

London

W1U 6TU

29 June 2026

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PONTONE GALLERY (US) LIMITED

REGISTERED NUMBER: 11305652

BALANCE SHEET

AS AT 31 MAY 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	3,099		7,260
		3,099		7,260
Creditors: amounts falling due within one year	5	(82,220)		(43,377)
Net current liabilities			(79,121)		(36,117)
Total assets less current liabilities			(79,121)		(36,117)

Net liabilities			(79,121)		(36,117)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(79,122)	(36,118)
	(79,121)	(36,117)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 June 2026.

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

D M Pontone

Director

The notes on pages 3 to 4 form part of these financial statements.

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PONTONE GALLERY (US) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1.	General information

The company is a private company limited by shares and is incorporated in the UK with its registered office at 74 Newman Street, London W1T 3DB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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PONTONE GALLERY (US) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 3 (2024 - 3).

Debtors

					2025	2024
					£	£


Amounts owed by group undertakings	-	3,855
Other debtors	926	926
Prepayments and accrued income	2,173	2,479
	3,099	7,260

5.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Amounts owed to group undertakings	32,753	-
Accruals and deferred income	49,467	43,377
	82,220	43,377

6.	Controlling party

The company is a wholly owned subsidiary of Pontone Gallery Limited, a Company registered in England and Wales.

7.	Going Concern

The Holding company has continued to provide financial support up to and beyond date the date of these accounts and the directors consider that the going concern basis is appropriate for the preparation of the financial statements.

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