The Compton Gallery Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03140899 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2017

for

The Compton Gallery Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs C M Moore

REGISTERED OFFICE:

C/O Harrison North

Liberty House

222 Regent Street

London

W1B 5TR

REGISTERED NUMBER:

03140899 (England and Wales)

ACCOUNTANTS:

Harrison North

Liberty House

222 Regent Street

London

W1B 5TR

CURRENT ASSETS

Stocks

10,160

10,160

Debtors

3

1,873

420

Cash at bank

1,604

2,521

13,637

13,101

CREDITORS

Amounts falling due within one year

4

-

879

NET CURRENT ASSETS

13,637

12,222

TOTAL ASSETS LESS CURRENT LIABILITIES

13,637

12,222

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

13,635

12,220

SHAREHOLDERS' FUNDS

13,637

12,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 8 June 2018 and were signed by:

Mrs C M Moore - Director

1.	STATUTORY INFORMATION

The Compton 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 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.

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.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

1,873

420

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade creditors

(1

)

-

Taxation and social security

-

52

Other creditors

1

827

-

879