Company No: 15938128 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025
		£
Fixed assets
Tangible assets	3	71,615
		71,615
Current assets
Debtors	4	33,646
Cash at bank and in hand		6,582
		40,228
Creditors: amounts falling due within one year	5	( 158,977)
Net current liabilities		(118,749)
Total assets less current liabilities		(47,134)
Net liabilities		( 47,134)
Capital and reserves
Called-up share capital	6	100
Profit and loss account		( 47,235 )
Total shareholder's deficit		( 47,135)

For the financial year ending 30 September 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 financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Triton Galleries (Taunton) Limited (registered number: 15938128) were approved and authorised for issue by the Director on 18 August 2026. They were signed on its behalf by:

David Charles Phelps Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year, unless otherwise stated.

General information and basis of accounting

Triton Galleries (Taunton) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Manor Drive, Exeter, United Kingdom. The principal place of business is 68-69 High Street, Taunton, Devon, TA1 3PT.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £47,134. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

These financial statements have been prepared for the company's first accounting period, comprising the 13-month period . Accordingly, the results reported for the period are not directly comparable with those of future periods.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Tangible fixed 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.

Leasehold improvements	10 years straight line
Fixtures and fittings	5 years straight line
Office equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025
	Number
Monthly average number of persons employed by the Company during the year, including the director	6

3. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 October 2024	0		0		0		0
Additions	68,999		3,017		2,250		74,266
At 30 September 2025	68,999		3,017		2,250		74,266
Accumulated depreciation
At 01 October 2024	0		0		0		0
Charge for the financial year	2,300		201		150		2,651
At 30 September 2025	2,300		201		150		2,651
Net book value
At 30 September 2025	66,699		2,816		2,100		71,615

4. Debtors

	2025
	£
Amounts owed by associates	16,300
Prepayments	17,346
	33,646

5. Creditors: amounts falling due within one year

	2025
	£
Trade creditors	36,841
Amounts owed to associates	46,142
Amounts owed to director	70,975
Accruals	2,385
Other taxation and social security	1,373
Other creditors	1,261
	158,977

6. Called-up share capital

	2025
	£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2025
	£
Amounts owed to associated companies	(46,142)
Amounts owed by associated companies	16,300

Transactions with the entity's director

	2025
	£
Amounts owed to directors	70,975

Other related party transactions

	2025
	£
Amounts owed to company under common control	1,261