Company Registration No. 06894487 (England and Wales)
CASTLE GALLERIES RETAIL LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020
CASTLE GALLERIES RETAIL LIMITED
CONTENTS
Page
Directors' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
CASTLE GALLERIES RETAIL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2020
- 1 -
The directors present their annual report and financial statements for the year ended 30 April 2020.
Principal activities
The company is dormant and did not trade during the year or in the previous year.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
G Washington
E Sheleg
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
G Washington
Director
7 April 2021
CASTLE GALLERIES RETAIL LIMITED
BALANCE SHEET
AS AT 30 APRIL 2020
30 April 2020
- 2 -
2020
2019
Notes
£
£
£
£
Current assets
Debtors
3
1
1
Net current assets
1
1
Capital and reserves
Called up share capital
4
1
1
For the financial year ended 30 April 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 7 April 2021 and are signed on its behalf by:
G Washington
Director
Company Registration No. 06894487
CASTLE GALLERIES RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020
- 3 -
1
Accounting policies
Company information
Castle Galleries Retail Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Unit 15 Spitfire Road, Erdington, Birmingham, B24 9PR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial
period
. During
this time
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
2
Employees
There were no employees during the year or in the previous year.
3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1
1
CASTLE GALLERIES RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2020
- 4 -
4
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
1
1
5
Financial commitments, guarantees and contingent liabilities
The company has entered into a cross guarantee inventory finance facility during the year, with its ultimate parent and fellow subsidiary companies with a total group liability at 30 April 2020 of £13,378,176. The bank has a fixed floating charge over the assets of the company.
6
Parent company
Halcyon Fine Art Group Holdings Limited is the parent company of the smallest group that prepares group accounts and that Castle Galleries Retail Limited is a member. The registered office of Halcyon Fine Art Group Holdings Limited is 29 New Bond Street, London, W1S 2RL.