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Reports Dated : 25/11/2024 Registered Number: 08085821
England & Northern Ireland

 

 

 

GALLANT (THAME) LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director Lucy Wakling
Registered Number 08085821
Registered Office 10 Greyhound Walk
Thame
Oxon
OX9 3DY
Accountants Denton Tavara Limited
61a High Street South
Rushden
NN10 0RA
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 August 2024.
Principal activities
Principal activity of the company during the financial year was of a menswear retailer.
Directors
The directors who served the company throughout the year were as follows:
Lucy Wakling
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Lucy Wakling
Director

Date approved: 25 November 2024
2
Accountants report
You consider that the company is exempt from an audit for the year ended 31 August 2024 . You have acknowledged, on the Statement of Financial Position , your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................

Denton Tavara Limited

61a High Street South
Rushden
NN10 0RA
25 November 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 469    142 
469    142 
Current assets      
Stocks 5 25,525    38,821 
Debtors 6 15,746    18,683 
Cash at bank and in hand 2,449    439 
43,720    57,943 
Creditors: amount falling due within one year 7 (37,575)   (46,893)
Net current assets 6,145    11,050 
 
Total assets less current liabilities 6,614    11,192 
Creditors: amount falling due after more than one year 8 (6,379)   (9,041)
Net assets 235    2,151 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 233    2,149 
Shareholders' funds 235    2,151 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 25 November 2024 and were signed on its behalf by:


-------------------------------
Lucy Wakling
Director
4
General Information
Gallant (Thame) Limited is a private company, limited by shares, registered in England & Northern Ireland, registration number 08085821, registration address 10 Greyhound Walk, Thame, Oxon, OX9 3DY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 33% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 September 2023 20,000    20,000 
Additions  
Disposals  
At 31 August 2024 20,000    20,000 
Amortisation
At 01 September 2023 20,000    20,000 
Charge for year  
On disposals  
At 31 August 2024 20,000    20,000 
Net book values
At 31 August 2024  
At 31 August 2023  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 September 2023   1,657    1,657 
Additions 530      530 
Disposals    
At 31 August 2024 530    1,657    2,187 
Depreciation
At 01 September 2023   1,515    1,515 
Charge for year 175    28    203 
On disposals    
At 31 August 2024 175    1,543    1,718 
Net book values
Closing balance as at 31 August 2024 355    114    469 
Opening balance as at 01 September 2023   142    142 


5.

Stocks

2024
£
  2023
£
Closing Stocks and WIP 25,525    38,821 
25,525    38,821 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Directors' Current Accounts 15,746    18,683 
15,746    18,683 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 4,167    9,361 
Bank Loans & Overdrafts 29,152    25,454 
Corporation Tax   7,736 
PAYE & Social Security 196    164 
Accruals 1,380    1,380 
Other Creditors  
VAT 2,680    2,798 
37,575    46,893 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans and Overdrafts 6,379    9,041 
6,379    9,041 

5