Knutsford Wedding Gallery Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09981577 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Knutsford Wedding Gallery Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs J E Hinton

REGISTERED OFFICE:

11/13 Minshull Street

Knutsford

Cheshire

WA16 6HG

REGISTERED NUMBER:

09981577 (England and Wales)

ACCOUNTANTS:

Nick Brajkovich Limited

Chartered Accountants

29 Withers Avenue

Warrington

Cheshire

WA2 8EU

FIXED ASSETS

Tangible assets

4

1,321

1,761

CURRENT ASSETS

Stocks

25,750

15,000

Debtors

5

75,587

35,680

Cash at bank and in hand

168,678

155,375

270,015

206,055

CREDITORS

Amounts falling due within one year

6

81,975

50,734

NET CURRENT ASSETS

188,040

155,321

TOTAL ASSETS LESS CURRENT LIABILITIES

189,361

157,082

CREDITORS

Amounts falling due after more than one year

7

12,489

22,500

NET ASSETS

176,872

134,582

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

176,862

134,572

SHAREHOLDERS' FUNDS

176,872

134,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 September 2023 and were signed by:

Mrs J E Hinton - Director

1.	STATUTORY INFORMATION

Knutsford Wedding Gallery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2022

and 31 March 2023

6,637

1,276

7,913

DEPRECIATION

At 1 April 2022

4,877

1,275

6,152

Charge for year

440

-

440

At 31 March 2023

5,317

1,275

6,592

NET BOOK VALUE

At 31 March 2023

1,320

1

1,321

At 31 March 2022

1,760

1

1,761

5.

DEBTORS

31.3.23

31.3.22

£

£

Amounts falling due within one year:

Trade debtors

15,937

6,030

Other debtors

4,650

4,650

20,587

10,680

Amounts falling due after more than one year:

Other debtors

55,000

25,000

Aggregate amounts

75,587

35,680

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

24,890

8,523

Taxation and social security

42,867

27,643

Other creditors

4,218

4,568

81,975

50,734

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

12,489

22,500