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REGISTERED NUMBER: OC341346 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GALLOWAY HUGHES LLP

GALLOWAY HUGHES LLP (REGISTERED NUMBER: OC341346)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GALLOWAY HUGHES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: K J Galloway Hale
K J Hughes





REGISTERED OFFICE: Aissela
46 High Street
Esher
Surrey
KT10 9QY





REGISTERED NUMBER: OC341346 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

GALLOWAY HUGHES LLP (REGISTERED NUMBER: OC341346)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,141 23,536

CURRENT ASSETS
Debtors 5 376,718 395,139
Cash at bank and in hand 107,153 294,177
483,871 689,316
CREDITORS
Amounts falling due within one year 6 198,856 204,209
NET CURRENT ASSETS 285,015 485,107
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 308,156 508,643

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

308,156

508,643

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 308,156 508,643

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

GALLOWAY HUGHES LLP (REGISTERED NUMBER: OC341346)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 3 September 2024 and were signed by:




K J Galloway Hale - Designated member




K J Hughes - Designated member


GALLOWAY HUGHES LLP (REGISTERED NUMBER: OC341346)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Galloway Hughes LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts chargeable to clients for professional services provided during the year.

Turnover is recognised when a right to consideration has been obtained through performance under each contract.

Consideration accrues as contract activity progresses, by reference to the value of the work performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 16.66% on cost

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

3. EMPLOYEE INFORMATION

The average number of employees during the year was 14 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 149,424
Additions 7,105
At 31 March 2024 156,529
DEPRECIATION
At 1 April 2023 125,888
Charge for year 7,500
At 31 March 2024 133,388
NET BOOK VALUE
At 31 March 2024 23,141
At 31 March 2023 23,536

GALLOWAY HUGHES LLP (REGISTERED NUMBER: OC341346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 152,872 192,109
Other debtors 223,846 203,030
376,718 395,139

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 105,000 100,000
Taxation and social security 77,173 91,136
Other creditors 16,683 13,073
198,856 204,209

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 146,215 146,215
Between one and five years 292,431 438,647
438,646 584,862

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors.