The Maas Gallery Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02807353 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2018

FOR

THE MAAS GALLERY LIMITED

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

R N Maas

Mrs T Maas

C Andrews

J Barker

SECRETARY:

Mrs T Maas

REGISTERED OFFICE:

The Courtyard

High Street

Ascot

Berkshire

SL5 7HP

REGISTERED NUMBER:

02807353 (England and Wales)

ACCOUNTANTS:

Kirk Rice LLP

The Courtyard

High Street

Ascot

Berkshire

SL5 7HP

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are

not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st March 2018 set out on pages four to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Kirk Rice LLP

The Courtyard

High Street

Ascot

Berkshire

SL5 7HP

26th November 2018

FIXED ASSETS

Tangible assets

4

800

4,787

CURRENT ASSETS

Stocks

1,364,892

1,405,089

Debtors

5

410,462

370,725

Cash at bank and in hand

1,002,661

1,033,716

2,778,015

2,809,530

CREDITORS

Amounts falling due within one year

6

(362,230

)

(349,611

)

NET CURRENT ASSETS

2,415,785

2,459,919

TOTAL ASSETS LESS CURRENT LIABILITIES

2,416,585

2,464,706

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,416,485

2,464,606

SHAREHOLDERS' FUNDS

2,416,585

2,464,706

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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 24th November 2018 and were signed on its behalf by:

R N Maas - Director

1.	STATUTORY INFORMATION

The Maas 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Plant and machinery etc

-

25% 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in arriving at the operating result.

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 3 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2017

and 31st March 2018

48,680

DEPRECIATION

At 1st April 2017

43,893

Charge for year

3,987

At 31st March 2018

47,880

NET BOOK VALUE

At 31st March 2018

800

At 31st March 2017

4,787

5.

DEBTORS

31.3.18

31.3.17

£

£

Amounts falling due within one year:

Trade debtors

68,922

28,351

Other debtors

41,540

42,374

110,462

70,725

Amounts falling due after more than one year:

Other debtors

300,000

300,000

Aggregate amounts

410,462

370,725

Included within other debtors due in greater than a year is a loan to a third party secured by their personal assets. The loan

attracts interest of 2% over the Bank of England base rate that is payable annually on the anniversary of the loan and is due

for repayment by 10 October 2020 or earlier at the discretion of the borrower.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

126,132

119,446

Taxation and social security

11,354

43,576

Other creditors

224,744

186,589

362,230

349,611