Brighton Gallery Limited - Limited company - abbreviated - 11.6
Brighton Gallery Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| Abbreviated Accounts for the Year Ended 30 September 2014 |
| for |
| Brighton Gallery Limited |
| Brighton Gallery Limited (Registered number: 07270900) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 30 September 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Brighton Gallery Limited |
| Company Information |
| for the Year Ended 30 September 2014 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Brighton Gallery Limited (Registered number: 07270900) |
| Abbreviated Balance Sheet |
| 30 September 2014 |
| 2014 | 2013 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director on |
| Brighton Gallery Limited (Registered number: 07270900) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 30 September 2014 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover represents rent receivable from the freehold property. Turnover is recognised in the period to which it |
| relates. |
| Tangible fixed assets |
| Freehold property | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 October 2013 |
| and 30 September 2014 |
| NET BOOK VALUE |
| At 30 September 2014 |
| At 30 September 2013 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary | £1 |
| 4. | RELATED PARTY DISCLOSURES |
| On the 3 December 2012, a loan amounting to £297,244 was advanced to the company by PP2 Limited, a |
| company controlled by Christopher Proud, the brother of the director, A E W Proud, and is included in other |
| creditors. Interest is chargeable on the loan at the rate of 10% per annum. The balance outstanding as at 30 |
| September 2014 including accrued interest was £328,253. |
| During the year under review, on normal commercial terms, the company charged rent of £25,000 (2013: |
| £15,000) to Proud Publishing Limited, a company in which A E W Proud is a director and controlling |
| shareholder. |
| As at 30 September 2014, the company was owed £110,994 (2013 - £112,244) by Proud Publishing Limited. |
| 5. | POST BALANCE SHEET EVENTS |
| The company has given security by way of a fixed charge over its freehold property to Barclays Bank PLC, in |
| respect of a funding facility provided to Proud Publishing Limited, a company in which A E W Proud is a |
| director and controlling shareholder. |