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REGISTERED NUMBER: 13966159 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

GALAPAGOS TEAM LTD

GALAPAGOS TEAM LTD (REGISTERED NUMBER: 13966159)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GALAPAGOS TEAM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mrs S Barcelos Ferreira
Miss K P Maceratta Schuster





REGISTERED OFFICE: 16 Kings Keep
London
United Kingdom
SW15 6RA





REGISTERED NUMBER: 13966159 (England and Wales)





ACCOUNTANTS: Richardson Jones
Chartered Accountants
Mercury House
19-21 Chapel Street
Marlow
Buckinghamshire
SL7 3HN

GALAPAGOS TEAM LTD (REGISTERED NUMBER: 13966159)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 417 625

CURRENT ASSETS
Debtors 5 153,799 65,598
Cash at bank 83,839 7,603
237,638 73,201
CREDITORS
Amounts falling due within one year 6 96,086 37,719
NET CURRENT ASSETS 141,552 35,482
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,969

36,107

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 141,869 36,007
SHAREHOLDERS' FUNDS 141,969 36,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 2nd September 2024 and were signed on its behalf by:




Mrs S Barcelos Ferreira - Director



Miss K P Maceratta Schuster - Director


GALAPAGOS TEAM LTD (REGISTERED NUMBER: 13966159)

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

1. STATUTORY INFORMATION

Galapagos Team Ltd 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.

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.
Computer equipment - 25% on cost

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1st April 2023
and 31st March 2024 833
DEPRECIATION
At 1st April 2023 208
Charge for year 208
At 31st March 2024 416
NET BOOK VALUE
At 31st March 2024 417
At 31st March 2023 625

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade debtors 140,891 51,901
VAT 713 672
Prepayments and accrued income 12,195 13,025
153,799 65,598

GALAPAGOS TEAM LTD (REGISTERED NUMBER: 13966159)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade creditors 240 -
Amounts owed to associates - 4,487
Tax 58,884 20,167
Social security and other taxes 479 -
Directors' current accounts 4,877 12,275
Deferred income 30,667 -
Accrued expenses 939 790
96,086 37,719

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £ £
50 'A' Ordinary £1 50 50
50 'B' Ordinary £1 50 50
100 100

8. RESERVES
Retained
earnings
£

At 1st April 2023 36,007
Profit for the year 176,862
Dividends (71,000 )
At 31st March 2024 141,869

9. RELATED PARTY DISCLOSURES

Gaea Collaboration Ltd, a company based in the UK owns 50% of the ordinary share capital in Galapagos Team Ltd.

During the year, Galapagos Team Ltd paid management fees totalling £12,570 and dividends totalling £28,500 to Gaea Collaboration Ltd.

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party, both directors hold control over the company.