2022-08-012023-07-312023-07-31false12077472GALA SWIMMING POOLS 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GALA SWIMMING POOLS LIMITED

Registered Number
12077472
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

GALA SWIMMING POOLS LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

AVERY, Gareth
LESTER, Andrew

Registered Address

Box 119 91 Mayflower Street
Plymouth
PL1 1SB

Registered Number

12077472 (England and Wales)
GALA SWIMMING POOLS LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5122,39640,177
122,39640,177
Current assets
Stocks767,544-
Debtors8192,779153,219
Cash at bank and on hand554,084379,157
814,407532,376
Creditors amounts falling due within one year9(341,860)(182,339)
Net current assets (liabilities)472,547350,037
Total assets less current liabilities594,943390,214
Creditors amounts falling due after one year10(53,897)(23,283)
Net assets541,046366,931
Capital and reserves
Called up share capital200200
Profit and loss account540,846366,731
Shareholders' funds541,046366,931
The financial statements were approved and authorised for issue by the Board of Directors on 21 November 2023, and are signed on its behalf by:
AVERY, Gareth
Director
Registered Company No. 12077472
GALA SWIMMING POOLS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year21
5.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 August 223,62472,93979077,353
Additions791110,4322,007113,230
Disposals-(24,234)-(24,234)
At 31 July 234,415159,1372,797166,349
Depreciation and impairment
At 01 August 221,62735,30924037,176
Charge for year66717,25557018,492
On disposals-(11,715)-(11,715)
At 31 July 232,29440,84981043,953
Net book value
At 31 July 232,121118,2881,987122,396
At 31 July 221,99737,63055040,177
6.Description of nature of transactions and balances with related parties
Included in Other Debtors is a balance totaling £83,989 owing from Gala Property Developments Ltd, a company which is also under the control of the Directors.
7.Stocks

2023

2022

££
Work in progress67,544-
Total67,544-
8.Debtors

2023

2022

££
Trade debtors / trade receivables107,63168,680
Other debtors83,98984,019
Prepayments and accrued income1,159520
Total192,779153,219
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables26,98981,901
Bank borrowings and overdrafts5,0194,793
Taxation and social security93,77989,279
Finance lease and HP contracts14,533-
Other creditors201186
Accrued liabilities and deferred income201,3396,180
Total341,860182,339
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts10,25215,271
Other creditors43,6458,012
Total53,89723,283
11.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts43,6458,012