IRIS Accounts Production v24.2.0.383 04384051 Board of Directors 1.1.23 31.12.23 31.12.23 30.9.24 0 0 true false true false false true true true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043840512022-12-31043840512023-12-31043840512023-01-012023-12-31043840512021-12-31043840512022-01-012022-12-31043840512022-12-3104384051ns15:EnglandWales2023-01-012023-12-3104384051ns14:PoundSterling2023-01-012023-12-3104384051ns10:Director12023-01-012023-12-3104384051ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3104384051ns10:SmallEntities2023-01-012023-12-3104384051ns10:Audited2023-01-012023-12-3104384051ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3104384051ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104384051ns10:FullAccounts2023-01-012023-12-3104384051ns10:Director22023-01-012023-12-3104384051ns10:Director32023-01-012023-12-3104384051ns10:RegisteredOffice2023-01-012023-12-3104384051ns5:CurrentFinancialInstruments2023-12-3104384051ns5:CurrentFinancialInstruments2022-12-3104384051ns5:ShareCapital2023-12-3104384051ns5:ShareCapital2022-12-3104384051ns5:SharePremium2023-12-3104384051ns5:SharePremium2022-12-3104384051ns5:CapitalRedemptionReserve2023-12-3104384051ns5:CapitalRedemptionReserve2022-12-3104384051ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-3104384051ns5:FurtherSpecificReserve1ComponentTotalEquity2022-12-3104384051ns5:RetainedEarningsAccumulatedLosses2023-12-3104384051ns5:RetainedEarningsAccumulatedLosses2022-12-3104384051ns5:CostValuation2022-12-3104384051ns5:Subsidiary12023-01-012023-12-3104384051ns5:Subsidiary112023-01-012023-12-3104384051ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3104384051ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3104384051ns5:CurrentFinancialInstruments2023-01-012023-12-3104384051ns5:RetainedEarningsAccumulatedLosses2022-12-3104384051ns5:SharePremium2022-12-3104384051ns5:CapitalRedemptionReserve2022-12-3104384051ns5:FurtherSpecificReserve1ComponentTotalEquity2022-12-3104384051ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31
REGISTERED NUMBER: 04384051 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GALLERIA HOLDINGS LIMITED

GALLERIA HOLDINGS LIMITED (REGISTERED NUMBER: 04384051)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


GALLERIA HOLDINGS LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: J Haataja
T Pesonen
T J Sirkka





REGISTERED OFFICE: Denise Coates Foundation Building
Home Farm Drive
Keele
Newcastle
ST5 5NS





REGISTERED NUMBER: 04384051 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

GALLERIA HOLDINGS LIMITED (REGISTERED NUMBER: 04384051)

STATEMENT OF FINANCIAL POSITION
31 December 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Debtors 5 64,021 78,437
Cash at bank 155 135
64,176 78,572
CREDITORS
Amounts falling due within one year 6 2,048,393 1,932,325
NET CURRENT LIABILITIES (1,984,217 ) (1,853,753 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,984,217

)

(1,853,753

)

CAPITAL AND RESERVES
Called up share capital 7 2,676 2,676
Share premium 8 77,498 77,498
Capital redemption reserve 8 7,510 7,510
Other reserves 8 (254,353 ) (254,353 )
Retained earnings 8 (1,817,548 ) (1,687,084 )
SHAREHOLDERS' FUNDS (1,984,217 ) (1,853,753 )

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 27 September 2024 and were signed on its behalf by:





J Haataja - Director


GALLERIA HOLDINGS LIMITED (REGISTERED NUMBER: 04384051)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Galleria Holdings 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.

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis. The directors believe this basis is the most appropriate as the parent company, Relex Logistics Excellence - Relex Oy, have confirmed they will continue to provide financial support to Galleria Holdings Limited for a period in excess of 12 months and 1 day following the sign off of the audit report.

Preparation of consolidated financial statements
The financial statements contain information about Galleria Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
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.

Financial instruments
Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

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 statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

GALLERIA HOLDINGS LIMITED (REGISTERED NUMBER: 04384051)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1,095
PROVISIONS
At 1 January 2023
and 31 December 2023 1,095
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Relex Solutions UK Limited
Registered office: Trent House, Victoria Road, Stoke-On-Trent, England, ST4 2LW
Nature of business: Software development, sales & consultancy
%
Class of shares: holding
Ordinary 100.00

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 47,930 65,219
Other debtors 16,091 13,218
64,021 78,437

Amounts owed by Group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand. The directors anticipate that the balance will be recovered after a period of more than one year from the balance sheet date. However, they have been classified as due within one year, because they are repayable on demand.

GALLERIA HOLDINGS LIMITED (REGISTERED NUMBER: 04384051)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 44,703 68,717
Amounts owed to group undertakings 1,980,438 1,851,556
Other creditors & accruals 23,252 12,052
2,048,393 1,932,325

Amounts owed to Group undertakings are unsecured, at 5% interest per annum, have no fixed date of repayment and are repayable on demand.

7. CALLED UP SHARE CAPITAL

Issued, called up and not fully paid

2023 2022

No. £ No. £
Ordinary shares of £1 each 2,675 2,676 2,675 2,676
2,675 2,676 2,675 2,676

The Ordinary shares carry voting rights, rights to dividends, rights to participate in a distribution and are non-redeemable.

8. RESERVES
Capital
Retained Share redemption Other
earnings premium reserve reserves Totals
£    £    £    £    £   

At 1 January 2023 (1,687,084 ) 77,498 7,510 (254,353 ) (1,856,429 )
Deficit for the year (130,464 ) (130,464 )
At 31 December 2023 (1,817,548 ) 77,498 7,510 (254,353 ) (1,986,893 )

Other reserves comprise an interest in own shares reserve of £(254,353).

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

The Report of the Auditors was unqualified.

Emma Crowley (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-
"Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

GALLERIA HOLDINGS LIMITED (REGISTERED NUMBER: 04384051)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

10. ULTIMATE PARENT COMPANY

The immediate and ultimate parent company is Relex Logistics Excellence - Relex Oy, a company incorporated in Finland. This is the largest and smallest group for which consolidated financial statements are produced. Copies of the consolidated financial statements are available from Postintaival 7, 00230, Helsinki, Finland.

The directors do not consider there to be an ultimate controlling party.