REGISTERED NUMBER: |
Financial Statements for the Period 1 April 2023 to 31 December 2023 |
for |
Galalane Limited |
REGISTERED NUMBER: |
Financial Statements for the Period 1 April 2023 to 31 December 2023 |
for |
Galalane Limited |
Galalane Limited (Registered number: 04205941) |
Contents of the Financial Statements |
for the Period 1 April 2023 to 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Galalane Limited |
Company Information |
for the Period 1 April 2023 to 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and |
Statutory Auditor |
67 Westow Street |
London |
SE19 3RW |
Galalane Limited (Registered number: 04205941) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.3.23 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Galalane Limited (Registered number: 04205941) |
Notes to the Financial Statements |
for the Period 1 April 2023 to 31 December 2023 |
1. | STATUTORY INFORMATION |
Galalane Limited is a |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the period 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 period 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. |
Going concern |
The liabilities exceed assets by £200,936. However, included within other creditors there are balances of £700,936 owed to group undertakings which the directors have confirmed will not be paid until the company is able to fund its own operations from realised profits. The company also owns 100% of the share capital of Chuanglee Limited and Chuanglee Cash & Carry Limited and both companies have substantial surplus reserves to support the parent company. On this basis the directors considers it appropriate to prepare accounts on a going concern basis. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Galalane Limited (Registered number: 04205941) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 31 December 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 1 April 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 March 2023 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Unit 7-9 Meridian Trading Estate,Bugsby Way, London, SE7 7SW |
Nature of business: |
% |
Class of shares: | holding |
31.12.23 | 31.3.23 |
£ | £ |
Aggregate capital and reserves |
Profit for the period/year |
Registered office: Unit 7-9 Meridian Trading Estate, Bugsby Way, London, SE7 7SW |
Nature of business: |
% |
Class of shares: | holding |
31.12.23 | 31.3.23 |
£ | £ |
Aggregate capital and reserves |
(Loss)/profit for the period/year | ( |
) |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.3.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.3.23 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
Galalane Limited (Registered number: 04205941) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 31 December 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.3.23 |
value: | £ | £ |
Ordinary | £1 | 16,092,730 | 200 |
16,092,530 Ordinary shares of £1 each were allotted and fully paid for |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
11. | ULTIMATE CONTROLLING PARTY |
The parent company during the financial year is Bamboo Mart UK Limited, a company incorporated in England and Wales. |
These accounts have been consolidated in the Bamboo Mart UK Limited accounts and for which copies of the consolidated financial statements can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ (Smallest group). |
The ultimate parent company is NR Instant Produce Public Company Limited, a company registered in Thailand (Largest group). |
The directors of the immediate parent company are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company. |