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REGISTERED NUMBER: 11894187 (England and Wales)















Galeri Redi Cyf

Unaudited Financial Statements

for the Year Ended 31 March 2024






Galeri Redi Cyf (Registered number: 11894187)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Galeri Redi Cyf

Company Information
for the Year Ended 31 March 2024







DIRECTORS: K J Thomas
S L Jones-Thomas





REGISTERED OFFICE: Llechwedd Office
Capel Iwan
Newcastle Emlyn
United Kingdom
SA38 9NW





REGISTERED NUMBER: 11894187 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Galeri Redi Cyf (Registered number: 11894187)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,204 25,066

CURRENT ASSETS
Stocks 5 103,378 88,997
Debtors 6 105,697 120,311
Cash at bank 2,482 49,405
211,557 258,713
CREDITORS
Amounts falling due within one year 7 162,326 209,226
NET CURRENT ASSETS 49,231 49,487
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,435

74,553

PROVISIONS FOR LIABILITIES 4,551 4,763
NET ASSETS 62,884 69,790

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 62,784 69,690
62,884 69,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 28 January 2025 and were signed on its behalf by:




S L Jones-Thomas - Director



K J Thomas - Director


Galeri Redi Cyf (Registered number: 11894187)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Galeri Redi Cyf 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
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.

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 - 25% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Galeri Redi Cyf (Registered number: 11894187)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 2,632 42,445 11,500 56,577
DEPRECIATION
At 1 April 2023 2,029 26,607 2,875 31,511
Charge for year 603 3,959 2,300 6,862
At 31 March 2024 2,632 30,566 5,175 38,373
NET BOOK VALUE
At 31 March 2024 - 11,879 6,325 18,204
At 31 March 2023 603 15,838 8,625 25,066

5. STOCKS
31.3.24 31.3.23
£    £   
Work-in-progress 103,378 88,997

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 26,269 21,481
Amounts owed by related parties 74,473 93,535
Other debtors 4,955 5,295
105,697 120,311

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 71,426 75,938
Amounts owed to related parties 37,258 33,458
Taxation and social security 2,554 8,497
Other creditors 51,088 91,333
162,326 209,226