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COMPANY REGISTRATION NUMBER: 08911349
Galloway Kemp Ltd
Unaudited Financial Statements
28 February 2023
Galloway Kemp Ltd
Financial Statements
Year ended 28 February 2023
Contents
Page
Director's report
1
Statement of financial position
2
Notes to the financial statements
3
The following pages do not form part of the financial statements
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
6
Galloway Kemp Ltd
Director's Report
Year ended 28 February 2023
The director presents his report and the unaudited financial statements of the company for the year ended 28 February 2023 .
Principal activities
The principal activity of the company during the year was that of handcrafting and selling luxurious bags.
Director
The director who served the company during the year was as follows:
Mr P J Kemp
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 21 November 2023 and signed on behalf of the board by:
Mr P J Kemp
Director
Registered office:
Oakley House
Tetbury Road
Cirencester
Glos
GL7 1US
Galloway Kemp Ltd
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Creditors: amounts falling due within one year
4
5,979
5,979
-------
-------
Net current liabilities
5,979
5,979
-------
-------
Total assets less current liabilities
( 5,979)
( 5,979)
-------
-------
Capital and reserves
Called up share capital
200
200
Profit and loss account
( 6,179)
( 6,179)
-------
-------
Shareholders deficit
( 5,979)
( 5,979)
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 November 2023 , and are signed on behalf of the board by:
Mr P J Kemp
Director
Company registration number: 08911349
Galloway Kemp Ltd
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oakley House, Tetbury Road, Cirencester, Glos, GL7 1US.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company has ceased trading.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
5,979
5,979
-------
-------
5. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
2023
2022
£
£
Mr P J Kemp
( 5,979)
( 5,979)
-------
-------
Galloway Kemp Ltd
Management Information
Year ended 28 February 2023
The following pages do not form part of the financial statements.
Galloway Kemp Ltd
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Galloway Kemp Ltd
Year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Galloway Kemp Ltd for the year ended 28 February 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Galloway Kemp Ltd in accordance with the terms of our engagement letter dated 23 February 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Galloway Kemp Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Galloway Kemp Ltd and its director for our work or for this report.
It is your duty to ensure that Galloway Kemp Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Galloway Kemp Ltd. You consider that Galloway Kemp Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Galloway Kemp Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
McGILLS Chartered Accountants
Oakley House Tetbury Road Cirencester Gloucestershire GL7 1US
22 November 2023