2022-03-01 NI685974 2023-02-28 NI685974 2022-03-01 2023-02-28 NI685974 uk-core:WithinOneYear 2023-02-28 NI685974 uk-core:AfterOneYear 2023-02-28 NI685974 uk-core:ShareCapital 2023-02-28 NI685974 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 NI685974 uk-bus:Director1 2022-03-01 2023-02-28 NI685974 uk-core:Buildings 2022-03-01 2023-02-28 NI685974 uk-core:PlantMachinery 2022-03-01 2023-02-28 NI685974 uk-core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 NI685974 uk-core:Vehicles 2022-03-01 2023-02-28 NI685974 uk-core:FurnitureFittings 2022-03-01 2023-02-28 NI685974 uk-core:PlantMachinery 2023-02-28 NI685974 uk-core:FurnitureFittings 2023-02-28 NI685974 uk-core:OtherPropertyPlantEquipment 2023-02-28 NI685974 uk-core:Buildings 2023-02-28 iso4217:GBP xbrli:pure NI685974 uk-bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 NI685974 uk-bus:FRS102 2022-03-01 2023-02-28 NI685974 uk-bus:FullAccounts 2022-03-01 2023-02-28 NI685974 uk-bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28
GALLJM LTD
Registered Number:NI685974
For the year ended 28 February 2023
Northern Ireland
Unaudited Financial Statements
2
For the year ended 28 February 2023
GALLJM LTD
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
NI685974
As at 28 February 2023
GALLJM LTD
Statement of Financial Position
£
2023
Notes
Fixed assets
Property, plant and equipment
108,049
2
108,049
Current assets
Inventories
5,285
3
Trade and other receivables
155
4
Cash and cash equivalents
7,810
13,250
Trade and other payables: amounts falling due within one
year
(46,813)
5
(33,563)
Net current liabilities
Total assets less current liabilities
74,486
Trade and other payables: amounts falling due after more
than one year
(67,868)
6
6,618
Net assets/liabilities
Capital and reserves
Called up share capital
1
Retained earnings
6,617
6,618
Shareholders' funds
For the year ended 28 February 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr James Currie Director
These financial statements were approved and authorised for issue by the Board on 21 November 2023 and were signed by:
The notes form part of these financial statements
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4
For the year ended 28 February 2023
GALLJM LTD
Notes to the Financial Statements
Statutory Information
GALLJM LTD is a private limited company, limited by shares, domiciled in Northern Ireland, registration number
NI685974.
Registered address:
43-45 Sloan Street
Lisburn
Antrim
BT27 5AG
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
2% Straight line
Plant and Machinery
20% Reducing balance
25% Reducing balance
Computer Equipment
20% Reducing balance
Motor Vehicles
10% Reducing balance
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
2 of 4
5
For the year ended 28 February 2023
GALLJM LTD
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
Equipment
Furniture and
Fittings
Plant and
Machinery
Land and
Buildings
£
£
£
£
£
Cost or
valuation
127,000
681
43,230
71,089
12,000
Additions
At 28 February 2023
71,089
43,230
681
127,000
12,000
Provision for depreciation and impairment
Charge for year
18,951
170
4,323
14,218
240
At 28 February 2023
18,951
170
4,323
14,218
240
At 28 February 2023
Net book value
11,760
56,871
38,907
511
108,049
3. Inventories
2023
£
Stocks
5,285
4. Trade and other receivables
2023
£
Other debtors
155
5. Trade and other payables: amounts falling due within one year
2023
£
Trade creditors
3,636
Other creditors
43,177
46,813
6. Trade and other payables: amounts falling due after more than one year
2023
£
Other creditors
67,868
3 of 4
6
For the year ended 28 February 2023
GALLJM LTD
Notes to the Financial Statements Continued
7. Average number of persons employed
During the year the average number of employees was 10
4 of 4