BrightAccountsProduction v1.0.0 v1.0.0 2022-09-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company during the year was the retail of meat, dairy, bread and cakes. 29 August 2024 7 8 NI072512 2023-08-31 NI072512 2022-08-31 NI072512 2021-08-31 NI072512 2022-09-01 2023-08-31 NI072512 2021-09-01 2022-08-31 NI072512 uk-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 NI072512 uk-curr:PoundSterling 2022-09-01 2023-08-31 NI072512 uk-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 NI072512 uk-bus:AbridgedAccounts 2022-09-01 2023-08-31 NI072512 uk-core:ShareCapital 2023-08-31 NI072512 uk-core:ShareCapital 2022-08-31 NI072512 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 NI072512 uk-core:RetainedEarningsAccumulatedLosses 2022-08-31 NI072512 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-08-31 NI072512 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-08-31 NI072512 uk-bus:FRS102 2022-09-01 2023-08-31 NI072512 uk-core:Land 2022-09-01 2023-08-31 NI072512 uk-core:PlantMachinery 2022-09-01 2023-08-31 NI072512 uk-core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 NI072512 uk-core:MotorVehicles 2022-09-01 2023-08-31 NI072512 2022-09-01 2023-08-31 NI072512 uk-bus:CompanySecretaryDirector1 2022-09-01 2023-08-31 NI072512 uk-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI072512
 
 
Galabake NI Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 August 2023
Galabake NI Limited
Company Registration Number: NI072512
ABRIDGED BALANCE SHEET
as at 31 August 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 45,454 56,817
───────── ─────────
 
Current Assets
Stocks 9,136 12,753
Debtors 34,483 32,835
Cash at bank and in hand 162,229 162,455
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205,848 208,043
───────── ─────────
Creditors: amounts falling due within one year (190,217) (194,890)
───────── ─────────
Net Current Assets 15,631 13,153
───────── ─────────
Total Assets less Current Liabilities 61,085 69,970
 
Creditors:
amounts falling due after more than one year - (50)
───────── ─────────
Net Assets 61,085 69,920
═════════ ═════════
 
Capital and Reserves
Called up share capital 1 1
Retained earnings 61,084 69,919
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Shareholders' Funds 61,085 69,920
═════════ ═════════
 
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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 29 August 2024
           
           
________________________________          
Mr. Seamus Gallagher          
Director          
           



Galabake NI Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 August 2023

   
1. General Information
 
Galabake NI Limited is a company limited by shares incorporated in Northern Ireland. 2 Church Street, Ballygawley, Co. Tyrone, BT70 2HB, United Kingdom is the registered office . The nature of the company's operations and its principal activities are set out in the Director's Report.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 August 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Long leasehold property - 20% Straight line
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 20% Reducing Balance
  Motor vehicles - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 7, (2022 - 8).
 
  2023 2022
  Number Number
 
Administrative and other 7 8
  ═════════ ═════════
             
4. Tangible assets
  Long Plant and Fixtures, Motor Total
  leasehold machinery fittings and vehicles  
  property   equipment    
  £ £ £ £ £
Cost
At 1 September 2022 31,134 120,527 8,108 11,503 171,272
  ───────── ───────── ───────── ───────── ─────────
 
At 31 August 2023 31,134 120,527 8,108 11,503 171,272
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 September 2022 31,134 64,545 7,273 11,503 114,455
Charge for the financial year - 11,196 167 - 11,363
  ───────── ───────── ───────── ───────── ─────────
At 31 August 2023 31,134 75,741 7,440 11,503 125,818
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 August 2023 - 44,786 668 - 45,454
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 August 2022 - 55,982 835 - 56,817
  ═════════ ═════════ ═════════ ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 August 2023.
   
6. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.