Static Gallery And Studios Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04266902 (England and Wales)

Financial Statements

for the Year Ended 31 August 2017

for

Static Gallery And Studios Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Sullivan

SECRETARY:

L C Dossor

REGISTERED OFFICE:

23 Roscoe Lane

Liverpool

L1 9JD

REGISTERED NUMBER:

04266902 (England and Wales)

ACCOUNTANTS:

Sloan & Co.

Chartered Accountants

Granite Buildings

6 Stanley Street

Liverpool

Merseyside

L1 6AF

FIXED ASSETS

Tangible assets

3

9,034

10,628

Investments

4

8,400

8,400

17,434

19,028

CURRENT ASSETS

Stocks

1,400

1,400

Debtors

839

1,053

Cash in hand

-

1,626

2,239

4,079

CREDITORS

Amounts falling due within one year

65,727

61,316

NET CURRENT LIABILITIES

(63,488

)

(57,237

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(46,054

)

(38,209

)

CREDITORS

Amounts falling due after more than one year

16,641

16,641

RESERVES

Income and expenditure account

(62,695

)

(54,850

)

(62,695

)

(54,850

)

(46,054

)

(38,209

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

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 surplus or deficit 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 31 May 2018 and were signed by:

P Sullivan - Director

1.	STATUTORY INFORMATION

Static Gallery And Studios Limited is a private company, limited by guarantee , 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Land and buildings

-

15% on cost

Plant and machinery etc

-

15% on reducing balance

Stocks

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

moving items.

Government grants

Government grants on capital expenditure are credited to a deferral account and are released to revenue over the

expected useful life of the relevant asset by equal annual instalments. Grants of a revenue nature are credited to

income in the period to which they relate.

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2016

and 31 August 2017

196,572

DEPRECIATION

At 1 September 2016

185,944

Charge for year

1,594

At 31 August 2017

187,538

NET BOOK VALUE

At 31 August 2017

9,034

At 31 August 2016

10,628

4.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2017

2016

£

£

Cost/valuation b/f

8,400

8,400