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REGISTERED NUMBER: 02641998 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

TOM GALLAGHER LIMITED

TOM GALLAGHER LIMITED (REGISTERED NUMBER: 02641998)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


TOM GALLAGHER LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: T A Gallagher
Mrs L M Gallagher





REGISTERED OFFICE: Unit 1
Summerfield Road
Bolton
BL3 2NT





REGISTERED NUMBER: 02641998 (England and Wales)





ACCOUNTANTS: Hayes & Co
Chartered Accountants
Suite 2 Beswick House
Greenfold Way
Leigh
Lancashire
WN7 3XJ

TOM GALLAGHER LIMITED (REGISTERED NUMBER: 02641998)

ABRIDGED BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 178,421 217,494

CURRENT ASSETS
Stocks 87,125 562,466
Debtors 619,309 517,654
Cash at bank and in hand 303 96
706,737 1,080,216
CREDITORS
Amounts falling due within one year 487,995 848,711
NET CURRENT ASSETS 218,742 231,505
TOTAL ASSETS LESS CURRENT
LIABILITIES

397,163

448,999

CREDITORS
Amounts falling due after more than one
year

(9,416

)

(48,599

)

PROVISIONS FOR LIABILITIES (28,793 ) (32,733 )
NET ASSETS 358,954 367,667

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 357,954 366,667
SHAREHOLDERS' FUNDS 358,954 367,667

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.

TOM GALLAGHER LIMITED (REGISTERED NUMBER: 02641998)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 January 2025 and were signed on its behalf by:





T A Gallagher - Director


TOM GALLAGHER LIMITED (REGISTERED NUMBER: 02641998)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Tom Gallagher 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.

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 £.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

TOM GALLAGHER LIMITED (REGISTERED NUMBER: 02641998)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 627,462
Additions 17,359
At 30 April 2024 644,821
DEPRECIATION
At 1 May 2023 409,968
Charge for year 56,432
At 30 April 2024 466,400
NET BOOK VALUE
At 30 April 2024 178,421
At 30 April 2023 217,494

TOM GALLAGHER LIMITED (REGISTERED NUMBER: 02641998)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 May 2023
and 30 April 2024 185,260
DEPRECIATION
At 1 May 2023 58,181
Charge for year 34,675
At 30 April 2024 92,856
NET BOOK VALUE
At 30 April 2024 92,404
At 30 April 2023 127,079

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 143,066 222,359
Bank loans 29,855 40,289
Hire purchase contracts 50,258 93,380
223,179 356,028

The bank overdraft and loan are secured by a fixed and floating charge over the assets of the company.