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REGISTERED NUMBER: 08082875 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

GALLICO SYSTEMS LIMITED

GALLICO SYSTEMS LIMITED (REGISTERED NUMBER: 08082875)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GALLICO SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: P P S French





REGISTERED OFFICE: Unit 3, Hazel Stub Depot
Camps Road
Haverhill
Suffolk
CB9 9AF





REGISTERED NUMBER: 08082875 (England and Wales)





ACCOUNTANTS: Hackett Griffey LLP
Chartered Certified Accountants
31 High Street
Haverhill
Suffolk
CB9 8AD

GALLICO SYSTEMS LIMITED (REGISTERED NUMBER: 08082875)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 77,499 108,632

CURRENT ASSETS
Stocks 12,000 8,500
Debtors 5 228,452 246,599
Cash at bank and in hand 11,436 56,004
251,888 311,103
CREDITORS
Amounts falling due within one year 6 229,884 280,745
NET CURRENT ASSETS 22,004 30,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,503

138,990

CREDITORS
Amounts falling due after more than one
year

7

(75,239

)

(114,685

)

PROVISIONS FOR LIABILITIES (19,375 ) (20,640 )
NET ASSETS 4,889 3,665

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,789 3,565
SHAREHOLDERS' FUNDS 4,889 3,665

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

GALLICO SYSTEMS LIMITED (REGISTERED NUMBER: 08082875)

BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2023 and were signed by:





P P S French - Director


GALLICO SYSTEMS LIMITED (REGISTERED NUMBER: 08082875)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Gallico Systems 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is the amount derived from ordinary activities, stated after trade discounts, other sales taxes and net of VAT.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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.

GALLICO SYSTEMS LIMITED (REGISTERED NUMBER: 08082875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2022 2,806 7,534 144,667 155,007
Additions 896 - - 896
Disposals - - (19,990 ) (19,990 )
At 31 May 2023 3,702 7,534 124,677 135,913
DEPRECIATION
At 1 June 2022 2,082 2,673 41,620 46,375
Charge for year 155 1,153 20,161 21,469
Eliminated on disposal - - (9,430 ) (9,430 )
At 31 May 2023 2,237 3,826 52,351 58,414
NET BOOK VALUE
At 31 May 2023 1,465 3,708 72,326 77,499
At 31 May 2022 724 4,861 103,047 108,632

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 195,417 244,899
Other debtors 33,035 1,700
228,452 246,599

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 21,843 10,000
Hire purchase contracts 14,322 32,203
Trade creditors 56,387 170,526
Taxation and social security 68,458 51,293
Other creditors 68,874 16,723
229,884 280,745

GALLICO SYSTEMS LIMITED (REGISTERED NUMBER: 08082875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 19,999 30,000
Hire purchase contracts 16,513 31,456
Other creditors 38,727 53,229
75,239 114,685

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 53,228 66,625
Hire purchase contracts 30,835 63,659
84,063 130,284

Hire purchase contracts are secured on the assets financed.

9. OTHER FINANCIAL COMMITMENTS

The company has commitments under non cancellable operating leases of £52,800.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The directors have given a personal guarantee in respect of the other loan shown in Secured Debts above.