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REGISTERED NUMBER: 12654897 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th June 2024

for

Gallipots Ltd

Gallipots Ltd (Registered number: 12654897)

Contents of the Financial Statements
for the Year Ended 30th June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gallipots Ltd

Company Information
for the Year Ended 30th June 2024







DIRECTORS: J A May
Mrs L May





REGISTERED OFFICE: 81 Market Place
South Cave
Brough
HU15 2AS





REGISTERED NUMBER: 12654897 (England and Wales)





ACCOUNTANTS: Dymond Accountants
Office F1,
Beverley Enterprise Centre
Beck View Road
Beverley
East Yorkshire
HU17 0JT

Gallipots Ltd (Registered number: 12654897)

Balance Sheet
30th June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,427 14,418

CURRENT ASSETS
Stocks 5,649 4,325
Debtors 5 29,310 28,807
34,959 33,132
CREDITORS
Amounts falling due within one year 6 47,213 48,252
NET CURRENT LIABILITIES (12,254 ) (15,120 )
TOTAL ASSETS LESS CURRENT LIABILITIES 173 (702 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 73 (802 )
173 (702 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 12th December 2024 and were signed on its behalf by:





J A May - Director


Gallipots Ltd (Registered number: 12654897)

Notes to the Financial Statements
for the Year Ended 30th June 2024


1. STATUTORY INFORMATION

Gallipots Ltd 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.
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Gallipots Ltd (Registered number: 12654897)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st July 2023 6,405 5,947 8,652 2,803 23,807
Additions - 910 133 230 1,273
At 30th June 2024 6,405 6,857 8,785 3,033 25,080
DEPRECIATION
At 1st July 2023 1,705 2,551 3,586 1,547 9,389
Charge for year 640 861 1,038 725 3,264
At 30th June 2024 2,345 3,412 4,624 2,272 12,653
NET BOOK VALUE
At 30th June 2024 4,060 3,445 4,161 761 12,427
At 30th June 2023 4,700 3,396 5,066 1,256 14,418

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 406 -
Other debtors 28,904 28,807
29,310 28,807

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 7,522 14,544
Taxation and social security 15,760 7,928
Other creditors 23,931 25,780
47,213 48,252

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th June 2024 and 30th June 2023:

30.6.24 30.6.23
£    £   
J A May
Balance outstanding at start of year 28,423 12,799
Amounts advanced 22,792 29,000
Amounts repaid (22,695 ) (13,376 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,520 28,423