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

MAYOR GALLERY LIMITED(THE) - Company Information

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REGISTERED NUMBER: 00274718 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2017

for

Mayor Gallery Limited(The)

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

J A W Austin

P R Klimt

Mrs L E Klimt

F J Mayor

SECRETARY:

REGISTERED OFFICE:

21 First Floor

Cork Street

London

W1S 3LZ

REGISTERED NUMBER:

00274718 (England and Wales)

ACCOUNTANTS:

MABCO Ltd T/A Maurice Braganza & Co

1 Lancaster Place

London

WC2E 7ED

FIXED ASSETS

Intangible assets

3,626

4,144

Tangible assets

15,092

18,997

18,718

23,141

CURRENT ASSETS

Stocks

8,357,616

7,807,655

Debtors

1,547,623

244,222

Cash in hand

4,082,342

3,298,261

13,987,581

11,350,138

CREDITORS

Amounts falling due within one year

(2,121,870

)

(1,118,100

)

NET CURRENT ASSETS

11,865,711

10,232,038

TOTAL ASSETS LESS CURRENT
LIABILITIES

11,884,429

10,255,179

CREDITORS

Amounts falling due after more than one year

(6,141,731

)

(5,042,750

)

NET ASSETS

5,742,698

5,212,429

CAPITAL AND RESERVES

Called up share capital

2,160

Share premium

24,998

Capital redemption reserve

1,478

Retained earnings

5,714,062

5,183,793

SHAREHOLDERS' FUNDS

5,742,698

5,212,429

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 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.

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 Board of Directors on 27 June 2018 and were signed on its behalf by:

F J Mayor - Director

1.	STATUTORY INFORMATION

Mayor Gallery Limited(The) 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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.

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 6 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

COST

At 1 October 2016

and 30 September 2017

5,180

AMORTISATION

At 1 October 2016

1,036

Charge for year

518

At 30 September 2017

1,554

NET BOOK VALUE

At 30 September 2017

3,626

At 30 September 2016

4,144

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

and

Motor

property

fittings

vehicles

Totals

COST

At 1 October 2016

and 30 September 2017

50,657

94,577

21,430

166,664

DEPRECIATION

At 1 October 2016

50,314

86,470

10,883

147,667

Charge for year

1,217

2,637

3,905

At 30 September 2017

50,365

87,687

13,520

151,572

NET BOOK VALUE

At 30 September 2017

292

6,890

7,910

15,092

At 30 September 2016

343

8,107

10,547

18,997

DEBTORS

30.9.17

30.9.16

Amounts falling due within one year:

Trade debtors

1,447,184

68,991

Other debtors

3,950

103,306

VAT

15,092

16,577

Prepayments and accrued income

55,319

29,270

1,521,545

218,144

Amounts falling due after more than one year:

Called up share capital not paid

26,078

Aggregate amounts

1,547,623

244,222

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

Hire purchase contracts

3,766

4,404

Trade creditors

705,690

146,795

Tax

405,514

276,187

Social security and other taxes

12,161

10,123

Other creditors

73,540

Billy Apple Loan a/c

192,264

Loan

499,000

Accruals and deferred income

300,174

Accrued expenses

122,025

114,613

2,121,870

1,118,100

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

Hire purchase contracts

6,277

7,341

Other creditors

3,463,375

2,615,125

Other creditors

2,420,284

Other creditors on a/c

59,531

Billy Apple Loan a/c

192,264

6,141,731

5,042,750