REGISTERED NUMBER:
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Cabinet Gallery Ltd |
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Unaudited Financial Statements |
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for the Year Ended 31 March 2022 |
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REGISTERED NUMBER:
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Cabinet Gallery Ltd |
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Unaudited Financial Statements |
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for the Year Ended 31 March 2022 |
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Cabinet Gallery Ltd (Registered number: 03668654) |
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Contents of the Financial Statements |
for the year ended 31 March 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Cabinet Gallery Ltd |
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Company Information |
for the year ended 31 March 2022 |
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Director: |
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Secretary: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
Cabinet Gallery Ltd (Registered number: 03668654) |
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Balance Sheet |
31 March 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks |
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Debtors | 5 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 6 |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
7 |
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Net assets |
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Capital and reserves |
Called up share capital | 9 |
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Retained earnings | 10 |
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Shareholders' funds |
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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 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. |
Cabinet Gallery Ltd (Registered number: 03668654) |
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Balance Sheet - continued |
31 March 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Cabinet Gallery Ltd (Registered number: 03668654) |
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Notes to the Financial Statements |
for the year ended 31 March 2022 |
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1. | Statutory information |
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Cabinet Gallery Ltd is a
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents amounts receivable for goods provided in the year and is stated net of VAT. |
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Tangible fixed assets |
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Short leasehold | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Government grants |
During the period the company benefited from £28,758 of government grant in the form of Coronavirus Job |
Retention Scheme. In accordance with our accounting policy this credit is included in other income within the Income Statement over the same period as the staff costs for which it compensates. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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Going concern |
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. |
Cabinet Gallery Ltd (Registered number: 03668654) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2022 |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Tangible fixed assets |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Cost |
At 1 April 2021 |
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Additions |
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Disposals |
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At 31 March 2022 |
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Depreciation |
At 1 April 2021 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2022 |
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Net book value |
At 31 March 2022 |
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At 31 March 2021 |
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5. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Cabinet Gallery Ltd (Registered number: 03668654) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2022 |
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7. | Creditors: amounts falling due after more than one year |
2022 | 2021 |
£ | £ |
Bank loans |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Other loans more 5yrs instal | 337,421 | 377,206 |
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8. | Secured debts |
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The following secured debts are included within creditors: |
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2022 | 2021 |
£ | £ |
Other loans | 396,220 | 609,006 |
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The loan is secured by way of a fixed and floating charge on all the property of the company. |
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9. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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10. | Reserves |
Retained |
earnings |
£ |
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At 1 April 2021 |
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Profit for the year |
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Dividends | ( |
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At 31 March 2022 |
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11. | Contingent liabilities |
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Cabinet Gallery Ltd has a debenture over the leasehold property. |