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REGISTERED NUMBER: 04205941 (England and Wales)















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: Ms K K W Y Chua
J C G Chua





SECRETARY: Ms T Ng





REGISTERED OFFICE: Unit 7-9 Meridian Trading Estate
Bugsby Way
London
SE7 7SW





REGISTERED NUMBER: 04205941 (England and Wales)





AUDITORS: Thornton Springer LLP
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 5 500,118 500,118

CURRENT ASSETS
Debtors 6 - 200

CREDITORS
Amounts falling due within one year 7 (701,054 ) (422,764 )
NET CURRENT LIABILITIES (701,054 ) (422,564 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(200,936

)

77,554

CAPITAL AND RESERVES
Called up share capital 8 16,092,730 200
Retained earnings (16,293,666 ) 77,354
SHAREHOLDERS' FUNDS (200,936 ) 77,554

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 Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





Ms K K W Y Chua - Director


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 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

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 2 (2023 - 3 ) .

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 500,118
NET BOOK VALUE
At 31 December 2023 500,118
At 31 March 2023 500,118

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Chuanglee Limited
Registered office: Unit 7-9 Meridian Trading Estate,Bugsby Way, London, SE7 7SW
Nature of business: Retail
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.3.23
£    £   
Aggregate capital and reserves 1,576,896 752,275
Profit for the period/year 824,621 821,232

Chuanglee Cash & Carry Limited
Registered office: Unit 7-9 Meridian Trading Estate, Bugsby Way, London, SE7 7SW
Nature of business: Retail
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.3.23
£    £   
Aggregate capital and reserves 778,717 975,891
(Loss)/profit for the period/year (197,174 ) 288,873

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.3.23
£    £   
Other debtors - 200

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.3.23
£    £   
Amounts owed to group undertakings 700,936 422,646
Other creditors 118 118
701,054 422,764

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: £    £   
16,092,730 Ordinary £1 16,092,730 200

16,092,530 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Zahid Saleem ACA FCCA MBA (Senior Statutory Auditor)
for and on behalf of Thornton Springer LLP

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.