The Maas Gallery Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02807353 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

FOR

THE MAAS GALLERY LIMITED

Page

Company Information

1

Report of the Accountants

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

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, from which the unaudited abbreviated accounts (set out on pages three to five)

have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended

31 March 2014 set out on pages four to eight 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

19 December 2014

FIXED ASSETS

Tangible assets

2

32,257

37,686

CURRENT ASSETS

Stocks

789,658

990,169

Debtors

153,333

72,782

Cash at bank and in hand

730,691

267,355

1,673,682

1,330,306

CREDITORS

Amounts falling due within one year

298,177

235,119

NET CURRENT ASSETS

1,375,505

1,095,187

TOTAL ASSETS LESS CURRENT LIABILITIES

1,407,762

1,132,873

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

1,407,662

1,132,773

SHAREHOLDERS' FUNDS

1,407,762

1,132,873

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 19 December 2014 and were signed on its behalf by:

R N Maas - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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

-

25% on cost

Fixtures and fittings

-

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

67,881

DEPRECIATION

At 1 April 2013

30,195

Charge for year

5,429

At 31 March 2014

35,624

NET BOOK VALUE

At 31 March 2014

32,257

At 31 March 2013

37,686

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

4.	RELATED PARTY DISCLOSURES

5.	ULTIMATE CONTROLLING PARTY

The company is owned and controlled by Mr R Maas by virtue of his majority interest in the company's issued

share capital.