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REGISTERED NUMBER: 01921558 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

GALEBEST LIMITED

GALEBEST LIMITED (REGISTERED NUMBER: 01921558)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GALEBEST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mrs E Barnett
R A Price
A Price





REGISTERED OFFICE: Rother Valley Way
Holbrook
Sheffield
S20 3RW





REGISTERED NUMBER: 01921558 (England and Wales)





ACCOUNTANTS: Drury & Co
Accountants & Business Advisors
21 Hollowgate
Rotherham
South Yorkshire
S60 2LE

GALEBEST LIMITED (REGISTERED NUMBER: 01921558)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 920,831 978,348

CURRENT ASSETS
Stocks 5 37,233 40,000
Debtors 6 308,661 423,522
Cash at bank and in hand 130,109 125,013
476,003 588,535
CREDITORS
Amounts falling due within one year 7 426,533 434,732
NET CURRENT ASSETS 49,470 153,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

970,301

1,132,151

CREDITORS
Amounts falling due after more than one
year

8

(231,457

)

(235,944

)

PROVISIONS FOR LIABILITIES (230,208 ) (190,761 )
NET ASSETS 508,636 705,446

CAPITAL AND RESERVES
Called up share capital 195 65
Share premium 299,985 299,985
Capital redemption reserve 50 50
Retained earnings 208,406 405,346
508,636 705,446

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

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

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.

GALEBEST LIMITED (REGISTERED NUMBER: 01921558)

BALANCE SHEET - continued
30 APRIL 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 Board of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by:





A Price - Director


GALEBEST LIMITED (REGISTERED NUMBER: 01921558)

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


1. STATUTORY INFORMATION

Galebest Limited 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.
Plant and machinery - 15% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on 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.

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.

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.

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.

GALEBEST LIMITED (REGISTERED NUMBER: 01921558)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 2,274,988 41,437 - 2,316,425
Additions 294,485 75 31,402 325,962
Disposals (180,181 ) - - (180,181 )
At 30 April 2024 2,389,292 41,512 31,402 2,462,206
DEPRECIATION
At 1 May 2023 1,304,085 33,992 - 1,338,077
Charge for year 276,163 928 7,850 284,941
Eliminated on disposal (81,643 ) - - (81,643 )
At 30 April 2024 1,498,605 34,920 7,850 1,541,375
NET BOOK VALUE
At 30 April 2024 890,687 6,592 23,552 920,831
At 30 April 2023 970,903 7,445 - 978,348

5. STOCKS
2024 2023
£    £   
Stocks 37,233 40,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 233,425 360,230
Other debtors 75,236 63,292
308,661 423,522

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,213 9,957
Hire purchase contracts 234,796 234,178
Trade creditors 72,939 78,474
Taxation and social security 32,563 61,814
Other creditors 76,022 50,309
426,533 434,732

GALEBEST LIMITED (REGISTERED NUMBER: 01921558)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,237 22,450
Hire purchase contracts 219,220 213,494
231,457 235,944

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the reporting date, the company was indebted to the directors in the cumulative sum of £59,443 (2023: £31,573). The transactions during the year consisted of introductions in the sum of £58,000 as against withdrawals of £30,130.

There are no formal repayment terms attached to this loan and interest is not being charged.,