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REGISTERED NUMBER: 12314030 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

ANGLO GALLEON INTERNATIONAL LTD

ANGLO GALLEON INTERNATIONAL LTD (REGISTERED NUMBER: 12314030)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ANGLO GALLEON INTERNATIONAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: K Akbarianazar
Madam S Hosseinpour





SECRETARY:





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU





BUSINESS ADDRESS: 156 Cromwell Road
3rd Floor
London
SW7 4EF





REGISTERED NUMBER: 12314030 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

ANGLO GALLEON INTERNATIONAL LTD (REGISTERED NUMBER: 12314030)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 79,622 105,022

CURRENT ASSETS
Stocks 5 560,739 599,509
Debtors 6 1,139,904 721,055
Cash at bank 103,935 72,564
1,804,578 1,393,128
CREDITORS
Amounts falling due within one year 7 1,766,215 1,358,554
NET CURRENT ASSETS 38,363 34,574
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,985

139,596

PROVISIONS FOR LIABILITIES 9 19,906 26,256
NET ASSETS 98,079 113,340

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 97,979 113,240
SHAREHOLDERS' FUNDS 98,079 113,340

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 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 Board of Directors and authorised for issue on 9 October 2023 and were signed on its behalf by:





K Akbarianazar - Director


ANGLO GALLEON INTERNATIONAL LTD (REGISTERED NUMBER: 12314030)

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


1. STATUTORY INFORMATION

Anglo Galleon International Ltd 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.

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 represents amounts receivable for freight services and the sale of containers net of VAT.

Revenue from the sale of services is recognised by reference to the stage of completion and when the costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Revenue from the sale of goods is recognised when the significant risks and rewards and ownership of the goods have been passed to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transactions will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 25% on reducing balance
Furniture,fittings & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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.

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.

ANGLO GALLEON INTERNATIONAL LTD (REGISTERED NUMBER: 12314030)

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


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant & Furniture,fittings Motor Computer
machinery & equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 72,906 4,781 61,968 2,043 141,698
Additions - 1,004 - 922 1,926
At 31 March 2023 72,906 5,785 61,968 2,965 143,624
DEPRECIATION
At 1 April 2022 18,026 1,796 15,492 1,362 36,676
Charge for year 13,720 998 11,619 989 27,326
At 31 March 2023 31,746 2,794 27,111 2,351 64,002
NET BOOK VALUE
At 31 March 2023 41,160 2,991 34,857 614 79,622
At 31 March 2022 54,880 2,985 46,476 681 105,022

5. STOCKS
2023 2022
£    £   
Stocks 560,739 599,509

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,104,751 706,208
Amounts owed by group undertakings 193 193
Other debtors 4,500 -
VAT 16,648 3,078
Prepayments 13,812 11,576
1,139,904 721,055

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,430,152 1,207,685
Tax 1,595 2,314
PAYE 8 -
Other creditors 4,238 9,838
Directors' current accounts 322,518 130,221
Accrued expenses 7,704 8,496
1,766,215 1,358,554

ANGLO GALLEON INTERNATIONAL LTD (REGISTERED NUMBER: 12314030)

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


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 18,000 -
Between one and five years 12,000 -
30,000 -

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 19,906 26,256

Deferred
tax
£   
Balance at 1 April 2022 26,256
Credit to Income Statement during year (6,350 )
Balance at 31 March 2023 19,906