REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
GALEFORD MANAGEMENT LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
GALEFORD MANAGEMENT LIMITED |
GALEFORD MANAGEMENT LIMITED (REGISTERED NUMBER: 03702809) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GALEFORD MANAGEMENT LIMITED |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
42 Lytton Road |
Barnet |
Hertfordshire |
EN5 5BY |
GALEFORD MANAGEMENT LIMITED (REGISTERED NUMBER: 03702809) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
GALEFORD MANAGEMENT LIMITED (REGISTERED NUMBER: 03702809) |
Balance Sheet - continued |
31 March 2024 |
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 |
GALEFORD MANAGEMENT LIMITED (REGISTERED NUMBER: 03702809) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Galeford Management Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental income, fees for mortgages and finance arranged, income from fitness training and includes profits on currency trading. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
GALEFORD MANAGEMENT LIMITED (REGISTERED NUMBER: 03702809) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Leasehold | Plant and | Motor | Computer |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Cost or valuation at 31 March 2024 is represented by: |
Leasehold | Plant and | Motor | Computer |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Cost | 120,676 | 2,844 | 26,900 | 836 | 151,256 |
5. | FIXED ASSET INVESTMENTS |
Fixed |
asset |
investme |
£ |
COST OR VALUATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Cost or valuation at 31 March 2024 is represented by: |
Fixed |
asset |
investme |
£ |
Cost | 22,700 |
GALEFORD MANAGEMENT LIMITED (REGISTERED NUMBER: 03702809) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Disposals | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 | 58,525 |
Eliminated on disposal | (58,525 | ) |
At 31 March 2024 | - |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other debtors |
Directors' current accounts | 5,785 | 4,067 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Hire purchase contracts |
Tax |
Social security and other taxes |
Directors' current accounts | - | 1 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Hire purchase contracts |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 31.3.23 |
£ | £ |
Hire purchase contracts | - | 15,741 |
Hire purchase liabilities of £Nil (2023: £15,741) are secured against the motor vehicle to which it relates. |
GALEFORD MANAGEMENT LIMITED (REGISTERED NUMBER: 03702809) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
11. | PROVISIONS FOR LIABILITIES |
31.3.24 | 31.3.23 |
£ | £ |
Deferred tax | 2,886 | 2,933 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Provided during year | ( |
) |
Balance at 31 March 2024 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
A Ordinary | £1 | 99 | 99 |
B Ordinary | £1 | 99 | 99 |
C Ordinary | £1 | 99 | 99 |
D Ordinary | £1 | 99 | 99 |
1 | E Ordinary | £1 | 1 | 1 |
397 | 397 |
13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023: |
31.3.24 | 31.3.23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
As at the balance sheet date, included in debtors due within one year is £5,785 (2023: £4,065) due from the directors. During the period interest of £291 was charged at 2.25% on the outstanding balance. The directors loan account was fully repaid within 9 months of the balance sheet date. |
14. | RELATED PARTY DISCLOSURES |
As at the balance sheet date, included in debtors due within one year is £77,871 (2023: £74,080) due and payable from ERM Investments Limited. Interest was charged at 10% totalling £10,490 (2023: £12,927). The company is under common control by the directors. |
15. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr M Rolle. |