Company Registration No. 08237531 (England and Wales)
GALLIARD TRADING LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
GALLIARD TRADING LIMITED
CONTENTS
Page
Director's report
1
Statement of financial position
2
Notes to the financial statements
3 - 5
GALLIARD TRADING LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The director presents his annual report and financial statements for the year ended 31 March 2024.

Principal activities
The principal activity of the company is the wholesale of fashion clothing.
Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

S S Conway
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

By order of the board
A W Porter
Secretary
3 December 2024
GALLIARD TRADING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Inventories
252,429
52,175
Trade and other receivables
3
654,102
1,362,376
Cash and cash equivalents
374,665
201,246
1,281,196
1,615,797
Current liabilities
4
(1,365,348)
(1,678,013)
Net current liabilities
(84,152)
(62,216)
Equity
Called up share capital
5
1
1
Retained earnings
(84,153)
(62,217)
Total equity
(84,152)
(62,216)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 3 December 2024
S S Conway
Director
Company Registration No. 08237531
The notes on pages 3 to 5 form part of these financial statements.
GALLIARD TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Galliard Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, Sterling House, Langston Road, Loughton, Essex, IG10 3TS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The preparation of financial statements in compliance with FRS102 Section 1A Small Entities requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the accounting policies. The following principal accounting policies have been applied:

1.2
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Inventories

Inventories are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

Financial assets, other than investments, are initially measured at transaction price and subsequently held at cost, less any impairment.

 

Financial liabilities are measured initially at transaction price and subsequently at amortised cost.

 

Financial liabilities and equity are classified according to the substance of the instrument's contractual obligation, rather than its legal form.

 

Finance costs are charged to profit and loss over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

GALLIARD TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the statement of comprehensive income for the period.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
43,617
617,380
Other receivables
610,485
744,996
654,102
1,362,376
4
Current liabilities
2024
2023
£
£
Trade payables
11,744
8,288
Taxation and social security
89,438
78,824
Other payables
1,264,166
1,590,901
1,365,348
1,678,013

There are no amounts included under current liabilities which are payable or repayable other than by instalments and fall due for payment or repayment after the end of the period of five years beginning with the day next following reporting date.

There are no amounts included under current liabilities in respect of which any security has been given by the entity.

GALLIARD TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
6
Directors' transactions

As at the balance sheet date, included within other payables was £300,000 (2023: £300,000) owed to Development Finance (Marylebone) Limited, a company owned and controlled by S S Conway and £123,454 (2023: £221,070) owed to Plotplan Limited, a company controlled by D E Conway and G A Conway who are both sons of S S Conway. Included within other receivables is £42,169 (2023: £14,496) owed by Galliard Homes Limited a company controlled by S S Conway.

7
Parent company

The immediate parent company is Zestplan Limited, a company registered in England and Wales.

 

S S Conway is the controlling party.

 

 

 

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