Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01false1010truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04626793 2023-01-01 2023-12-31 04626793 2022-01-01 2022-12-31 04626793 2023-12-31 04626793 2022-12-31 04626793 2022-01-01 04626793 c:Director1 2023-01-01 2023-12-31 04626793 d:Buildings 2023-01-01 2023-12-31 04626793 d:Buildings 2023-12-31 04626793 d:Buildings 2022-12-31 04626793 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04626793 d:FurnitureFittings 2023-01-01 2023-12-31 04626793 d:FurnitureFittings 2023-12-31 04626793 d:FurnitureFittings 2022-12-31 04626793 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04626793 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04626793 d:CurrentFinancialInstruments 2023-12-31 04626793 d:CurrentFinancialInstruments 2022-12-31 04626793 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04626793 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04626793 d:UKTax 2023-01-01 2023-12-31 04626793 d:UKTax 2022-01-01 2022-12-31 04626793 d:ShareCapital 2023-12-31 04626793 d:ShareCapital 2022-12-31 04626793 d:RetainedEarningsAccumulatedLosses 2023-12-31 04626793 d:RetainedEarningsAccumulatedLosses 2022-12-31 04626793 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04626793 c:OrdinaryShareClass1 2023-12-31 04626793 c:FRS102 2023-01-01 2023-12-31 04626793 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04626793 c:FullAccounts 2023-01-01 2023-12-31 04626793 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04626793 2 2023-01-01 2023-12-31 04626793 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04626793 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04626793 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 04626793 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 04626793 d:RetirementBenefitObligationsDeferredTax 2023-12-31 04626793 d:RetirementBenefitObligationsDeferredTax 2022-12-31 04626793 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 04626793














DANIEL GALVIN INTERNATIONAL LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DANIEL GALVIN INTERNATIONAL LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
DANIEL GALVIN INTERNATIONAL LIMITED
REGISTERED NUMBER:04626793

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,950,756
1,976,061

Current assets
  

Stocks
 6 
21,364
22,319

Debtors: amounts falling due within one year
 7 
35,539
41,665

Cash at bank and in hand
 8 
412,931
391,476

  
469,834
455,460

Creditors: amounts falling due within one year
 9 
(1,607,033)
(1,588,012)

Net current liabilities
  
 
 
(1,137,199)
 
 
(1,132,552)

Total assets less current liabilities
  
813,557
843,509

Provisions for liabilities
  

Deferred tax
 10 
(101,756)
(104,695)

  
 
 
(101,756)
 
 
(104,695)

Net assets
  
711,801
738,814


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
711,701
738,714

  
711,801
738,814


1

 
DANIEL GALVIN INTERNATIONAL LIMITED
REGISTERED NUMBER:04626793
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D W J Galvin
Director

Date: 6 August 2024

2

 
DANIEL GALVIN INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Daniel Galvin International Limited is a private company, limited by shares, domiciled in England and Wales, registration number 04626793. The registered office address of the company is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. The company's trading address is 67 Abingdon Road, Kensington, London, W8 6AN.
The principal activity of the company continued to be that of operating a hair dressing salon specialising in hair colour and tinting as well as advising, consultancy and researching hair colour.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, in respect of receiving royalties from intellectual property rights and the operation of a hairdressing salon, specialising in hair colour and tinting as well as advising, consulting and researching hair colour, net of value added tax.

Royalties received
Royalties received are recognised when it is probable that the economic benefits associated with the transaction will flow to the company and the amount of the revenue can be measured reliably, royalties are recognised on an accruals basis in accordance with the substance of the relevant agreement. 
Rendering of services
Revenue from services is recognised when the service has been delivered.

3

 
DANIEL GALVIN INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenuenature are recognised in the profit and loss account in the same period as the related expenditure. Grants received in respect of Coronavirus Job Retention Scheme and Business     Rates are included in the other income.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

 Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

 Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

4

 
DANIEL GALVIN INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
 Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Freehold property
-
1% straight line
Fixtures and fittings
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss account.

 
2.9

 Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

 Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.12

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 10).

5

 
DANIEL GALVIN INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
-
13,900


Total current tax
-
13,900

Deferred tax


Origination and reversal of timing differences
(2,939)
(3,798)

Total deferred tax
(2,939)
(3,798)


Taxation on (loss)/profit on ordinary activities
(2,939)
10,102

Factors affecting tax charge for the year

The tax assessed for the year is the same as (2022 - the same as) the standard rate of corporation tax in the UK of 25% (2022 - 19.00%) as set out below:

2023
2022
£
£


(Loss)/profit on ordinary activities before tax
(29,952)
57,951


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2022 - 19.00%)
(7,045)
11,011

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
87
87

Capital allowances for year in excess of depreciation
4,193
(85)

Adjustments to tax charge in respect of prior periods
(174)
(911)

Total tax charge for the year
(2,939)
10,102

6

 
DANIEL GALVIN INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost


At 1 January 2023
2,133,908
71,847
2,205,755


Disposals
-
(1,315)
(1,315)



At 31 December 2023

2,133,908
70,532
2,204,440



Depreciation


At 1 January 2023
179,694
50,000
229,694


Charge for the year
21,339
3,158
24,497


Disposals
-
(507)
(507)



At 31 December 2023

201,033
52,651
253,684



Net book value



At 31 December 2023
1,932,875
17,881
1,950,756



At 31 December 2022
1,954,214
21,847
1,976,061


6.


Stocks

2023
2022
£
£

Goods for resale
21,364
22,319



7.


Debtors

2023
2022
£
£


Trade debtors
2,007
3,082

Called up share capital not paid
100
100

Prepayments and accrued income
33,432
38,483

35,539
41,665


7

 
DANIEL GALVIN INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Cash

2023
2022
£
£

Cash at bank and in hand
412,931
391,476



9.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
765
6,632

Corporation tax
-
13,900

Other taxation and social security
8,417
18,579

Other creditors
1,560,174
1,507,562

Accruals
37,677
41,339

1,607,033
1,588,012



10.


Deferred taxation




2023
2022


£

£






At beginning of year
(104,695)
(108,493)


Charged to profit or loss
2,939
3,798



At end of year
(101,756)
(104,695)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(104,909)
(104,775)

Tax losses carried forward
3,042
-

Pension surplus
111
80

(101,756)
(104,695)

8

 
DANIEL GALVIN INTERNATIONAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100



12.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,706 (2022 - £4,475). Contributions totalling £443 (2022 - £749) were payable to the fund at the balance sheet date and are included in creditors.

 
9