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REGISTERED NUMBER: 05022997 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Galloways Property Limited

Galloways Property Limited (Registered number: 05022997)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Galloways Property Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: S Carpenter





SECRETARY: Ms S Neale





REGISTERED OFFICE: 67 Westow Street
London
SE19 3RW





REGISTERED NUMBER: 05022997 (England and Wales)





ACCOUNTANTS: CWF & Partners Ltd
Chartered Accountants
67 Westow Street
Upper Norwood
London
SE19 3RW

Galloways Property Limited (Registered number: 05022997)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 13,664 15,885
Investments 6 2,000 2,000
15,664 17,885

CURRENT ASSETS
Debtors 7 26,463 24,397
Cash at bank and in hand 82,344 100,388
108,807 124,785
CREDITORS
Amounts falling due within one year 8 57,465 89,727
NET CURRENT ASSETS 51,342 35,058
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,006

52,943

CAPITAL AND RESERVES
Called up share capital 9 2,325 2,325
Capital redemption reserve 10 2,325 2,325
Retained earnings 10 62,356 48,293
SHAREHOLDERS' FUNDS 67,006 52,943

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

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

Galloways Property Limited (Registered number: 05022997)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





S Carpenter - Director


Galloways Property Limited (Registered number: 05022997)

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

1. STATUTORY INFORMATION

Galloways Property Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

Galloways Property Limited (Registered number: 05022997)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 70,695 21,938 92,633
Additions - 1,195 1,195
At 31 December 2023 70,695 23,133 93,828
DEPRECIATION
At 1 January 2023 57,450 19,298 76,748
Charge for year 2,649 767 3,416
At 31 December 2023 60,099 20,065 80,164
NET BOOK VALUE
At 31 December 2023 10,596 3,068 13,664
At 31 December 2022 13,245 2,640 15,885

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 2,000
NET BOOK VALUE
At 31 December 2023 2,000
At 31 December 2022 2,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 26,463 24,397

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 44,421 75,019
Other creditors 13,044 14,708
57,465 89,727

Galloways Property Limited (Registered number: 05022997)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
23,245 Ordinary £0.10 2,325 2,325

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 48,293 2,325 50,618
Profit for the year 54,044 54,044
Dividends (39,981 ) (39,981 )
At 31 December 2023 62,356 2,325 64,681