2 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 5,537 1,684 7,221 4,167 600 4,767 2,454 1,370 xbrli:pure xbrli:shares iso4217:GBP 08796542 2022-12-01 2023-11-30 08796542 2023-11-30 08796542 2022-11-30 08796542 2021-12-01 2022-11-30 08796542 2022-11-30 08796542 2021-11-30 08796542 bus:Director1 2022-12-01 2023-11-30 08796542 core:WithinOneYear 2023-11-30 08796542 core:WithinOneYear 2022-11-30 08796542 core:ShareCapital 2023-11-30 08796542 core:ShareCapital 2022-11-30 08796542 core:RetainedEarningsAccumulatedLosses 2023-11-30 08796542 core:RetainedEarningsAccumulatedLosses 2022-11-30 08796542 bus:SmallEntities 2022-12-01 2023-11-30 08796542 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 08796542 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 08796542 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08796542 bus:FullAccounts 2022-12-01 2023-11-30 08796542 core:OfficeEquipment 2022-12-01 2023-11-30 08796542 core:OfficeEquipment 2022-11-30 08796542 core:OfficeEquipment 2023-11-30
COMPANY REGISTRATION NUMBER: 08796542
GALLAGHER SALES CONSULTANCY & TRAINING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2023
GALLAGHER SALES CONSULTANCY & TRAINING LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
CONTENTS
PAGE
Statement of financial position
1
Notes to the financial statements
3
GALLAGHER SALES CONSULTANCY & TRAINING LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
2,454
1,370
CURRENT ASSETS
Debtors
6
6,987
3,270
Cash at bank and in hand
170,103
206,933
----------
----------
177,090
210,203
CREDITORS: amounts falling due within one year
7
7,023
7,587
----------
----------
NET CURRENT ASSETS
170,067
202,616
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
172,521
203,986
PROVISIONS
Taxation including deferred tax
260
----------
----------
NET ASSETS
172,521
203,726
----------
----------
GALLAGHER SALES CONSULTANCY & TRAINING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
200
100
Profit and loss account
172,321
203,626
----------
----------
SHAREHOLDERS FUNDS
172,521
203,726
----------
----------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 27 August 2024 , and are signed on behalf of the board by:
Mr J A Gallagher
Director
Company registration number: 08796542
GALLAGHER SALES CONSULTANCY & TRAINING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 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 Equitable House, 55 Pellon Lane, Halifax, HX1 5SP.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% reducing balance
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. TANGIBLE ASSETS
Equipment
Total
£
£
Cost
At 1 December 2022
5,537
5,537
Additions
1,684
1,684
-------
-------
At 30 November 2023
7,221
7,221
-------
-------
Depreciation
At 1 December 2022
4,167
4,167
Charge for the year
600
600
-------
-------
At 30 November 2023
4,767
4,767
-------
-------
Carrying amount
At 30 November 2023
2,454
2,454
-------
-------
At 30 November 2022
1,370
1,370
-------
-------
6. DEBTORS
2023
2022
£
£
Trade debtors
2,020
3,220
Other debtors
4,967
50
-------
-------
6,987
3,270
-------
-------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Corporation tax
4,917
Other creditors
7,023
2,670
-------
-------
7,023
7,587
-------
-------
8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The directors loan account was in credit throughout the year. The loan is repayable on demand and no interest is charged.