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REGISTERED NUMBER: 06415272 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Galemorn Ltd

Galemorn Ltd (Registered number: 06415272)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Galemorn Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: G S Dhesi





SECRETARY: Mrs D K Dhesi





REGISTERED OFFICE: 179 Handside Lane
Welwyn Garden City
Hertfordshire
AL8 6SE





REGISTERED NUMBER: 06415272 (England and Wales)





ACCOUNTANTS: Coombs Chartered Accountants
164 Bedford Road
Kempston
Bedford
Bedfordshire
MK42 8BH

Galemorn Ltd (Registered number: 06415272)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 53,837 64,604
Tangible assets 5 220,505 220,925
274,342 285,529

CURRENT ASSETS
Stocks 108,500 75,600
Debtors 6 10,925 39,138
Cash at bank and in hand 25,040 15,950
144,465 130,688
CREDITORS
Amounts falling due within one year 7 134,657 116,645
NET CURRENT ASSETS 9,808 14,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

284,150

299,572

CREDITORS
Amounts falling due after more than one year 8 81,833 203,833

CAPITAL AND RESERVES
Called up share capital 11 11
Retained earnings 202,306 95,728
SHAREHOLDER FUNDS 202,317 95,739
284,150 299,572

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 July 2024 and were signed by:





G S Dhesi - Director


Galemorn Ltd (Registered number: 06415272)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Galemorn 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% on reducing balance, 15% on cost and 10% on cost

Stocks
Stocks are valued 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 straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 107,674
AMORTISATION
At 1 November 2022 43,070
Charge for year 10,767
At 31 October 2023 53,837
NET BOOK VALUE
At 31 October 2023 53,837
At 31 October 2022 64,604

Galemorn Ltd (Registered number: 06415272)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 297,410
Additions 53,479
Disposals (32,650 )
At 31 October 2023 318,239
DEPRECIATION
At 1 November 2022 76,485
Charge for year 40,125
Eliminated on disposal (18,876 )
At 31 October 2023 97,734
NET BOOK VALUE
At 31 October 2023 220,505
At 31 October 2022 220,925

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 10,925 39,138

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 14,577
Trade creditors 88,645 47,992
Other creditors 36,012 44,076
134,657 116,645

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 15,833 25,833
Other creditors 66,000 178,000
81,833 203,833

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 15,833 25,833