REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
GALLAGHER POWER FENCE (U.K.) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
GALLAGHER POWER FENCE (U.K.) LIMITED |
GALLAGHER POWER FENCE (U.K.) LIMITED (REGISTERED NUMBER: 01660270) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
GALLAGHER POWER FENCE (U.K.) LIMITED |
COMPANY INFORMATION |
for the year ended 30 June 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
One Eastwood |
Harry Weston Road |
Binley Business Park |
Coventry |
CV3 2UB |
GALLAGHER POWER FENCE (U.K.) LIMITED (REGISTERED NUMBER: 01660270) |
BALANCE SHEET |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
GALLAGHER POWER FENCE (U.K.) LIMITED (REGISTERED NUMBER: 01660270) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Gallagher Power Fence (U.K.) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, typically on dispatch of the goods. |
Tangible fixed assets |
Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management. |
Repairs and maintenance costs are charged to the statement of comprehensive income in the period in which they are incurred. |
Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life. |
Short leasehold | - Straight line over period of lease |
Improvement to leasehold property | - 10% on cost |
Plant & machinery | - 10% on cost |
Fixtures & fittings | - 20% on cost |
Motor vehicles | - 20% on cost |
Any gains and losses on the disposal of tangible fixed assets are recognised in the statement of comprehensive income in the year that the disposal takes place. |
Stocks |
Stocks are valued at the lower of cost or net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined by maintaining stock on a first-in, first-out basis. |
Financial instruments |
Basic financial instruments in debtors and creditors with no stated interest rate, and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses. |
GALLAGHER POWER FENCE (U.K.) LIMITED (REGISTERED NUMBER: 01660270) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2024 |
3. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
The assets of the scheme are held separately from those of the company in independently administered funds. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
GALLAGHER POWER FENCE (U.K.) LIMITED (REGISTERED NUMBER: 01660270) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
Disposals | ( |
) | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Amounts due from Gallagher |
Europe B.V | 3,028 | - |
Deferred tax asset |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
VAT | 206,298 | 212,330 |
Other creditors | 1,105 | 989 |
Amounts due to Gallagher Europe B.V. | - | 167,318 |
Accrued expenses |
GALLAGHER POWER FENCE (U.K.) LIMITED (REGISTERED NUMBER: 01660270) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 205,912 | 205,912 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | ULTIMATE PARENT COMPANY |
The company is a wholly-owned subsidiary of Gallagher Europe B.V. a company incorporated in the Netherlands, which is also its ultimate parent company. |
Copies of the consolidated financial statements are available from Gallagher Europe B.V. Bornholmstraat 62 A, 9723 AZ Groningen, the Netherlands. |
12. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |