Thornhill Galleries (UK) Limited - Accounts to registrar (filleted) - small 23.2.5
Thornhill Galleries (UK) Limited - Accounts to registrar (filleted) - small 23.2.5
REGISTERED NUMBER: |
THORNHILL GALLERIES (UK) LIMITED |
Unaudited Financial Statements |
For The Year Ended 31 October 2023 |
THORNHILL GALLERIES (UK) LIMITED (REGISTERED NUMBER: 05963556) |
Contents of the Financial Statements |
For The Year Ended 31 October 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THORNHILL GALLERIES (UK) LIMITED |
Company Information |
For The Year Ended 31 October 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Hilden Park House |
79 Tonbridge Road |
Hildenborough |
Tonbridge |
Kent |
TN11 9BH |
THORNHILL GALLERIES (UK) LIMITED (REGISTERED NUMBER: 05963556) |
Abridged Balance Sheet |
31 October 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
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 ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
THORNHILL GALLERIES (UK) LIMITED (REGISTERED NUMBER: 05963556) |
Abridged Balance Sheet - continued |
31 October 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THORNHILL GALLERIES (UK) LIMITED (REGISTERED NUMBER: 05963556) |
Notes to the Financial Statements |
For The Year Ended 31 October 2023 |
1. | STATUTORY INFORMATION |
Thornhill Galleries (UK) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the value of the consideration received or receivable, net of discounts and value added taxes, for the sale of antique fireplaces. Turnover is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Motor vehicles | - |
Office equipment | - |
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. |
THORNHILL GALLERIES (UK) LIMITED (REGISTERED NUMBER: 05963556) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2023 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 November 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
Assets held under finance leases at the year end originally cost £135,779 (2022: £135,779) and have a net book value of £42,149 (2022: £56,199). Depreciation charged for the year was £14,050 (2022: £18,773). |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The bank loan is secured by a fixed charge held on the property (dated 8 October 2012). |