2023-08-012024-07-312024-07-31false12077472GALA SWIMMING POOLS 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GALA SWIMMING POOLS LIMITED

Registered Number
12077472
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

GALA SWIMMING POOLS LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

AVERY, Gareth
LESTER, Andrew

Registered Address

Box 119 91 Mayflower Street
Plymouth
PL1 1SB

Registered Number

12077472 (England and Wales)
GALA SWIMMING POOLS LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3164,237122,396
164,237122,396
Current assets
Stocks4-67,544
Debtors180,461192,779
Cash at bank and on hand586,842554,084
767,303814,407
Creditors amounts falling due within one year5(247,350)(341,860)
Net current assets (liabilities)519,953472,547
Total assets less current liabilities684,190594,943
Creditors amounts falling due after one year6(70,584)(53,897)
Net assets613,606541,046
Capital and reserves
Called up share capital200200
Profit and loss account613,406540,846
Shareholders' funds613,606541,046
The financial statements were approved and authorised for issue by the Board of Directors on 15 November 2024, and are signed on its behalf by:
LESTER, Andrew
Director
Registered Company No. 12077472
GALA SWIMMING POOLS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Plant and machinery25-
Vehicles25-
Office Equipment25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year32
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 August 23-4,415159,1372,797166,349
Additions3,62058678,52929583,030
At 31 July 243,6205,001237,6663,092249,379
Depreciation and impairment
At 01 August 23-2,29540,84980943,953
Charge for year82960339,21754041,189
At 31 July 248292,89880,0661,34985,142
Net book value
At 31 July 242,7912,103157,6001,743164,237
At 31 July 23-2,120118,2881,988122,396
4.Stocks

2024

2023

££
Work in progress-67,544
Total-67,544
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables23,27325,149
Bank borrowings and overdrafts5,2455,019
Taxation and social security95,11195,620
Finance lease and HP contracts23,86714,533
Other creditors381201
Accrued liabilities and deferred income99,473201,338
Total247,350341,860
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts5,17510,252
Other creditors65,40943,645
Total70,58453,897
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts65,40943,645
8.Related party transactions
Included in Other Debtors is a balance totaling £89,442 owing from Gala Property Developments Ltd, a company which is also under the control of the Directors.