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REGISTERED NUMBER: 12420135 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JANUARY 2024

FOR

GALORE ENTERPRISES LTD

GALORE ENTERPRISES LTD (REGISTERED NUMBER: 12420135)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GALORE ENTERPRISES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JANUARY 2024







DIRECTOR: Mr Z Gazit





SECRETARY: Mrs R Gazit Timor





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 12420135 (England and Wales)





ACCOUNTANTS: MGR SD Limited
Chartered Accountants
55 Loudoun Road
London
NW8 0DL

GALORE ENTERPRISES LTD (REGISTERED NUMBER: 12420135)

BALANCE SHEET
30 JANUARY 2024

30.1.24 30.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,153 9,380

CURRENT ASSETS
Debtors 5 30,199 26,016
Cash at bank 6,986 23,231
37,185 49,247
CREDITORS
Amounts falling due within one year 6 (5,396 ) (10,227 )
NET CURRENT ASSETS 31,789 39,020
TOTAL ASSETS LESS CURRENT LIABILITIES 38,942 48,400

CREDITORS
Amounts falling due after more than one
year

7

(42,368

)

(46,807

)

PROVISIONS FOR LIABILITIES 8 (128 ) (473 )
NET (LIABILITIES)/ASSETS (3,554 ) 1,120

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings (4,554 ) 120
SHAREHOLDERS' FUNDS (3,554 ) 1,120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GALORE ENTERPRISES LTD (REGISTERED NUMBER: 12420135)

BALANCE SHEET - continued
30 JANUARY 2024


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 director and authorised for issue on 21 October 2024 and were signed by:





Mr Z Gazit - Director


GALORE ENTERPRISES LTD (REGISTERED NUMBER: 12420135)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2024


1. STATUTORY INFORMATION

Galore Enterprises 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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - Straight line over 4 years
Computer equipment - 25% on reducing balance

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 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 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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

GALORE ENTERPRISES LTD (REGISTERED NUMBER: 12420135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 31 January 2023 2,158 14,698 2,390 19,246
Additions 158 - - 158
At 30 January 2024 2,316 14,698 2,390 19,404
DEPRECIATION
At 31 January 2023 1,108 7,643 1,115 9,866
Charge for year 302 1,764 319 2,385
At 30 January 2024 1,410 9,407 1,434 12,251
NET BOOK VALUE
At 30 January 2024 906 5,291 956 7,153
At 30 January 2023 1,050 7,055 1,275 9,380

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.1.24 30.1.23
£    £   
Trade debtors 23,588 22,835
Other debtors 6,611 3,181
30,199 26,016

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.1.24 30.1.23
£    £   
Trade creditors - 1,135
Taxation and social security 4,696 8,340
Other creditors 700 752
5,396 10,227

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.1.24 30.1.23
£    £   
Bank loans 42,368 46,807

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,127 10,751

GALORE ENTERPRISES LTD (REGISTERED NUMBER: 12420135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JANUARY 2024


8. PROVISIONS FOR LIABILITIES
30.1.24 30.1.23
£    £   
Deferred tax
Accelerated capital allowances 128 473

Deferred
tax
£   
Balance at 31 January 2023 473
Credit to Income Statement during year (345 )
Balance at 30 January 2024 128

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.1.24 30.1.23
value: £    £   
760 Ordinary £1 760 760
240 Ordinary B £1 240 240
1,000 1,000