Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31113falsefalseNo description of principal activity2024-01-01111truefalse 02686721 2024-01-01 2024-12-31 02686721 2023-01-01 2023-12-31 02686721 2024-12-31 02686721 2023-12-31 02686721 2023-01-01 02686721 1 2024-01-01 2024-12-31 02686721 1 2023-01-01 2023-12-31 02686721 5 2024-01-01 2024-12-31 02686721 5 2023-01-01 2023-12-31 02686721 d:Director2 2024-01-01 2024-12-31 02686721 d:Director3 2024-01-01 2024-12-31 02686721 d:Director3 2024-12-31 02686721 d:Director4 2024-01-01 2024-12-31 02686721 d:Director5 2024-01-01 2024-12-31 02686721 d:RegisteredOffice 2024-01-01 2024-12-31 02686721 e:Buildings e:LongLeaseholdAssets 2024-01-01 2024-12-31 02686721 e:Buildings e:LongLeaseholdAssets 2024-12-31 02686721 e:Buildings e:LongLeaseholdAssets 2023-12-31 02686721 e:FurnitureFittings 2024-01-01 2024-12-31 02686721 e:FurnitureFittings 2024-12-31 02686721 e:FurnitureFittings 2023-12-31 02686721 e:FurnitureFittings e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02686721 e:ComputerEquipment 2024-01-01 2024-12-31 02686721 e:ComputerEquipment 2024-12-31 02686721 e:ComputerEquipment 2023-12-31 02686721 e:ComputerEquipment e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02686721 e:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02686721 e:CurrentFinancialInstruments 2024-12-31 02686721 e:CurrentFinancialInstruments 2023-12-31 02686721 e:CurrentFinancialInstruments 1 2024-12-31 02686721 e:CurrentFinancialInstruments 1 2023-12-31 02686721 e:Non-currentFinancialInstruments 2024-12-31 02686721 e:Non-currentFinancialInstruments 2023-12-31 02686721 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 02686721 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 02686721 e:Non-currentFinancialInstruments e:AfterOneYear 2024-12-31 02686721 e:Non-currentFinancialInstruments e:AfterOneYear 2023-12-31 02686721 e:UKTax 2024-01-01 2024-12-31 02686721 e:UKTax 2023-01-01 2023-12-31 02686721 e:ShareCapital 2024-01-01 2024-12-31 02686721 e:ShareCapital 2024-12-31 02686721 e:ShareCapital 2023-01-01 2023-12-31 02686721 e:ShareCapital 2023-12-31 02686721 e:ShareCapital 2023-01-01 02686721 e:SharePremium 2024-01-01 2024-12-31 02686721 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 02686721 e:RetainedEarningsAccumulatedLosses 2024-12-31 02686721 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 02686721 e:RetainedEarningsAccumulatedLosses 2023-12-31 02686721 e:RetainedEarningsAccumulatedLosses 2023-01-01 02686721 e:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-01-01 2024-12-31 02686721 e:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-12-31 02686721 e:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 02686721 d:OrdinaryShareClass1 2024-01-01 2024-12-31 02686721 d:OrdinaryShareClass1 2024-12-31 02686721 d:OrdinaryShareClass1 2023-12-31 02686721 d:FRS102 2024-01-01 2024-12-31 02686721 d:Audited 2024-01-01 2024-12-31 02686721 d:FullAccounts 2024-01-01 2024-12-31 02686721 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02686721 e:WithinOneYear 2024-12-31 02686721 e:WithinOneYear 2023-12-31 02686721 e:BetweenOneFiveYears 2024-12-31 02686721 e:BetweenOneFiveYears 2023-12-31 02686721 e:MoreThanFiveYears 2024-12-31 02686721 e:MoreThanFiveYears 2023-12-31 02686721 e:CurrentFinancialInstruments 6 2024-12-31 02686721 e:CurrentFinancialInstruments 6 2023-12-31 02686721 e:AcceleratedTaxDepreciationDeferredTax 2024-12-31 02686721 e:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02686721 e:TaxLossesCarry-forwardsDeferredTax 2024-12-31 02686721 e:TaxLossesCarry-forwardsDeferredTax 2023-12-31 02686721 f:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Company registration number: 02686721







ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


THE GALLUP ORGANIZATION LIMITED






































img4c57.png                        

 


THE GALLUP ORGANIZATION LIMITED
 


 
COMPANY INFORMATION


Directors
K L Andersen 
M R Mosser 
T J Lee 




Registered number
02686721



Registered office
18th Floor The Shard
32 London Bridge Street

London

SE1 9SG




Independent auditor
Menzies LLP
Chartered Accountant & Statutory Auditor

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


THE GALLUP ORGANIZATION LIMITED
 



CONTENTS



Page
Strategic Report
 
1 - 2
Directors' Report
 
3 - 4
Independent Auditor's Report
 
5 - 8
Statement of Income and Retained Earnings
 
9
Statement of Financial Position
 
10
Statement of Changes in Equity
 
11
Statement of Cash Flows
 
12
Analysis of Net Debt
 
13
Notes to the Financial Statements
 
14 - 23


 


THE GALLUP ORGANIZATION LIMITED
 


 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Principal activities and business review
 
The Company's principal activities are to provide clients with research-based advice, analytics, and learning services to improve business performance, including employee engagement, personal strengths development and selection services, and social and economic opinion research.

The revenue growth is primarily driven by organic expansion, alongside a sustained focus on midmarket clients, which included further investment in the midmarket sales team. A key contributor to this growth was an increase in e-commerce activity, which boosted revenue by £2.6m. This growth was also influenced by the ongoing liquidation of Gallup's Holding Company, which resulted in the transfer of e-commerce revenue to The Gallup Organization Ltd to manage the associated activities and continue driving this revenue stream.

The Balance Sheet remains strong with a healthy amount of cash to support the business and a current ratio of 1.2.

Principal risks and uncertainties
 
The key risks and uncertainties affecting the Company are considered to relate to the impact of a regional recession on our revenue streams and the impact of the current economic climate on the recruitment and retention of employees. These are mitigated with the use of our Strengths and Selection tools in ensuring that we have people with the correct skills and strengths to do their job to excellence, and competitive pricing for our clients.  


Financial Indicators

2024
2023
        £
        £
Total turnover

29,867,402

27,221,075

Total Company net profit

2,345,710

1,747,470

Payroll to turnover

36%

43%

Administrative expenses as a percentage of turnover

47%

34%

Net assets

4,999,675

4,353,965



Non-Financial Indicators

2024
2023
% 
% 
Staff turnover and retention rates

11.7%

5.30%

Chargeable hours as a percentage of total hours

38.9%

43.82%

Client retention numbers

102%

108%

Staff engagement as measured by Q12

4.4%

4.48%


Page 1

 


THE GALLUP ORGANIZATION LIMITED
 



STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


The Company's strategy

The Company's mission is to create extraordinary impact for clients through a wide variety of behavioural economics based operating systems, which always include advice and teaching, on the subjects of everything important facing humankind.

The Company intends to accomplish this mission by focusing on three strategic priorities

1) Get one billion people to discover their CliftonStrengths,

2) Be the official statistics on everything work and life, and 

3) Create thriving workplaces.

Business model

Gallup delivers analytics and advice to help leaders and organisations solve their most pressing problems. Combining more than 80 years of experience with its global reach, Gallup knows more about the attitudes and behaviours of employees, customers, students and citizens than any other organisation in the world.  Gallup’s strength is understanding people and what matters most to them in their job and life. That strength allows us to create transformation in the workplace and marketplace.

This approach has led to the creation of unique tools and techniques for achieving the highest levels of organisational performance and organic growth. In the late 1990s, Gallup pioneered the employee engagement movement and introduced the premier tool for measuring and managing employees, the Gallup Q12: 12 actionable workplace elements with proven links to vital performance outcomes. Gallup remains at the forefront of employee engagement and has partnered with thousands of organisations to help them create a sustainable culture of engagement.

Gallup works with leaders and organisations to achieve breakthroughs in customer engagement, employee engagement, organisational culture and identity, leadership development, talent-based assessments, entrepreneurship and well-being. Our 1,000+ professionals include noted scientists, renowned subject-matter experts and best selling authors who work in a range of industries, including banking, finance, healthcare, consumer goods, automotive, real estate, hospitality, education, government and business-to-business (B2B).

Future developments 

To achieve our strategic priorities, we are focused on innovation and experimentation by investing in technology and strategic partnerships, crowd-sourcing new content, and talent expansion and alignment with our client facing teams through development programs and knowledge management.  The most important indicators we will be following are our Voice of the Customer and retention scores, as our highest priority is making sure our customers come back.


This report was approved by the board and signed on its behalf.



................................................
T J Lee
Director

Date: 25 February 2025

Page 2

 


THE GALLUP ORGANIZATION LIMITED
 


 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the period, after taxation, amounted to £2,345,710 (2023: £1,747,470).
An ordinary dividend was paid amounting to £1,700,000 (2023: £4,000,000).

Directors

The directors who served during the year were:

K L Andersen 
J P Hunt (resigned 24 September 2024)
M R Mosser 
T J Lee (appointed 24 September 2024)
 
Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Page 3

 


THE GALLUP ORGANIZATION LIMITED
 


 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


Auditor

Under section 487(2) of the Companies Act 2006Menzies LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board and signed on its behalf.
 





................................................
T J Lee
Director

Date: 25 February 2025

Page 4

 


THE GALLUP ORGANIZATION LIMITED
 

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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GALLUP ORGANIZATION LIMITED

Opinion


We have audited the financial statements of The Gallup Organization Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 5

 


THE GALLUP ORGANIZATION LIMITED


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GALLUP ORGANIZATION LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 


THE GALLUP ORGANIZATION LIMITED


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GALLUP ORGANIZATION LIMITED (CONTINUED)

Auditor's responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The Company is subject to laws and regulations that directly affect the financial statements including the financial reporting legislation. We determined the following laws and regulations were most significant including;

The Companies Act 2006;
Financial Reporting Standard 102;
UK Employment legislation;
UK tax legislation;
UK health and safety legislation; and
General Data Protection Regulations
 
We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

We understood how the Company is complying with those legal and regulatory frameworks by, making inquiries to management, those responsible for legal and compliance procedures and the company secretary. We corroborated our inquiries through our review of board minutes.

The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations. The assessment did not identify any issues in this area.

We assessed the susceptibility of the parent company’s and Group’s/Company financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the Group engagement team and component auditors/engagement team included:

Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
Challenging assumptions and judgments made by management in its significant accounting estimates; and
Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

The application of inappropriate judgements or estimation to manipulate the company's financial position;
Posting of unusual journals and complex transactions; and
The use of management override of controls to manipulate results, or to cause the company to enter into transactions not in its best interests.
 


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading
Page 7

 


THE GALLUP ORGANIZATION LIMITED


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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GALLUP ORGANIZATION LIMITED (CONTINUED)

to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Anna Johnson ACA (Senior Statutory Auditor)
for and on behalf of
Menzies LLP
Chartered Accountant
Statutory Auditor
Ashcombe House
5 The Crescent
Leatherhead
Surrey
KT22 8DY
 

25 February 2025
Page 8

 


THE GALLUP ORGANIZATION LIMITED
 


 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
29,867,402
27,221,075

Cost of sales
  
(8,782,214)
(11,413,427)

Gross profit
  
21,085,188
15,807,648

Distribution costs
  
(3,913,164)
(4,269,664)

Administrative expenses
  
(14,022,089)
(9,204,687)

Operating profit
 5 
3,149,935
2,333,297

Tax on profit
 9 
(804,225)
(585,827)

Profit after tax
  
2,345,710
1,747,470

  

  

Retained earnings at the beginning of the year
  
2,353,965
4,606,495

  
2,353,965
4,606,495

Profit for the year
  
2,345,710
1,747,470

Dividends declared and paid
  
(1,700,000)
(4,000,000)

Retained earnings at the end of the year
  
2,999,675
2,353,965

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of income and retained earnings.

The notes on pages 14 to 23 form part of these financial statements.

Page 9

 


THE GALLUP ORGANIZATION LIMITED
REGISTERED NUMBER:02686721



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
 10 
470,484
528,050

Fixed asset investments
 11 
19,142
-

  
489,626
528,050

Current assets
  

Debtors
 12 
7,210,543
10,952,975

Cash at bank and in hand
  
9,609,232
4,130,437

  
16,819,775
15,083,412

Creditors: amounts falling due within one year
 13 
(11,846,936)
(10,706,474)

Net current assets
  
 
 
4,972,839
 
 
4,376,938

Total assets less current liabilities
  
5,462,465
4,904,988

Creditors: amounts falling due after more than one year
 14 
-
(120,839)

Provisions for liabilities
  

Deferred tax
 15 
(19,790)
(20,184)

Other provisions
 16 
(443,000)
(410,000)

  
 
 
(462,790)
 
 
(430,184)

Net assets
  
4,999,675
4,353,965


Capital and reserves
  

Allotted, called up and fully paid share capital
 17 
2,000,000
2,000,000

Profit and loss account
 18 
2,999,675
2,353,965

  
4,999,675
4,353,965


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
T J Lee
Director

Date: 25 February 2025

The notes on pages 14 to 23 form part of these financial statements.

Page 10

 


THE GALLUP ORGANIZATION LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2023
2,000,000
4,606,495
6,606,495


Comprehensive income for the year

Profit for the year
-
1,747,470
1,747,470
Total comprehensive income for the year
-
1,747,470
1,747,470


Contributions by and distributions to owners

Dividends: Equity capital
-
(4,000,000)
(4,000,000)


Total transactions with owners
-
(4,000,000)
(4,000,000)



At 1 January 2024
2,000,000
2,353,965
4,353,965


Comprehensive income for the year

Profit for the year
-
2,345,710
2,345,710
Total comprehensive income for the year
-
2,345,710
2,345,710


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,700,000)
(1,700,000)


Total transactions with owners
-
(1,700,000)
(1,700,000)


At 31 December 2024
2,000,000
2,999,675
4,999,675


The notes on pages 14 to 23 form part of these financial statements.

Page 11

 


THE GALLUP ORGANIZATION LIMITED
 



STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
2,345,710
1,747,470

Adjustments for:

Depreciation of tangible assets
309,632
267,675

Taxation charge
804,225
575,275

Decrease/(increase) in debtors
3,855,416
(4,248,464)

(Increase)/decrease in amounts owed by groups
(56,613)
77,361

Increase in creditors
372,991
1,977,756

Increase in amounts owed to groups
713,373
686,226

Increase in provisions
33,000
10,552

Net fair value (gains)/losses recognised in P&L on derivative contracts
(132,572)
105,795

Corporation tax (paid)
(795,159)
(574,503)

Net cash generated from operating activities

7,450,003
625,143


Cash flows from investing activities

Purchase of tangible fixed assets
(252,223)
(145,994)

Sale of tangible fixed assets
157
-

Purchase of fixed asset investments
(19,142)
-

Net cash from investing activities

(271,208)
(145,994)

Cash flows from financing activities

Dividends paid
(1,700,000)
(4,000,000)

Net cash used in financing activities
(1,700,000)
(4,000,000)

Net increase/(decrease) in cash and cash equivalents
5,478,795
(3,520,851)

Cash and cash equivalents at beginning of year
4,130,437
7,651,288

Cash and cash equivalents at the end of year
9,609,232
4,130,437


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
9,609,232
4,130,437

9,609,232
4,130,437


The notes on pages 14 to 23 form part of these financial statements.

Page 12

 


THE GALLUP ORGANIZATION LIMITED
 



ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024




At 1 January 2024
Cashflow
At 31 December 2024
£

£

£

Cash at bank and in hand

4,130,437

5,478,795

9,609,232

Liquid investments

-

56,371

56,371


4,130,437
5,535,166
9,665,603

The notes on pages 14 to 23 form part of these financial statements.

Page 13

 


THE GALLUP ORGANIZATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The Gallup Organization Limited is private Company limited by shares and incorporated in England, United Kingdom. The address of its registered office and principal place of business can be found on the Company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

 
2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Percent spent revenue is recognised on a stage of completion basis. The percentage of completion of the project is arrived at by a considered objective as to the work that has been carried out, against that which is yet to be completed to allow the project to be delivered to a customer via the project budget. These reviews are carried out throughout the project. As a result, revenue is accrued or deferred as appropriate over the contractual period.
Events based revenue is recognised in line with the delivery of certain milestones in proportion to the contracted amount to be delivered. As a result, revenue is accrued or deferred in line with amounts delivered and amounts invoiced at the end of the reporting period.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, of that asset as follows.

Depreciation is provided on the following basis:

Leasehold property
-
The period of the lease
Fixtures & fittings
-
7 years straight line
Equipment
-
3 - 7 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 14

 


THE GALLUP ORGANIZATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 15

 


THE GALLUP ORGANIZATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
Revenue on long term contracts:
Revenue is recognised upon stage of completion of the research based consultancy project. The percentage of completion of the project is arrived at by a considered objective review as to the work that has been carried out, against that which is yet to be completed to allow the project to be delivered to a customer. These reviews are carried out throughout the project. As a result, revenue is accrued or deferred as appropriate over the contractual period.
Provision for dilapidations:
The Company has an operating lease in respect of its office building on which it will be required to make payment for dilapidation expenses when the lease is terminated. Until the amount payable to the landlord can be confirmed on termination of the lease, the directors are required to make provision for the expected liability. This provision has been calculated using a dilapidations assessment carried out by reputable real estate firm based on the current condition of the building and budgeted costs for restoring it to the conditions specified in the lease. 

Page 16

 


THE GALLUP ORGANIZATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£



Rendering of services
29,867,402
27,221,075

29,867,402
27,221,075

Analysis of turnover by country of destination:


2024
2023
£
£



United Kingdom
11,738,278
12,487,645

Europe
13,113,258
12,350,629

United States
3,740,682
1,814,515

Rest of the World
1,275,184
568,286

29,867,402
27,221,075


5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation of tangible assets
309,477
267,675

Auditor's remuneration for audit services
33,240
31,670

Exchange differences
77,288
406,423

Other operating lease rentals
753,560
753,560

Loss / (gain) on financial instruments
208,655
(35,013)





Page 17

 


THE GALLUP ORGANIZATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
9,272,560
10,220,560

Social security costs
1,164,816
1,172,700

Cost of defined contribution scheme
300,392
260,268

10,737,768
11,653,528


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Management
4
5



Administration staff
13
12



Production and Marketing
94
96

111
113


7.


Key Management Personnel

2024
2023
£
£

Key personnel emoluments
716,750
1,028,370

Company contributions to defined contribution pension schemes
5,283
5,381

722,033
1,033,751



8.


Directors' remuneration

During the year, no directors received remuneration through The Gallup Organization Limited (2023 - £NIL).
During the year no retirement benefits were accruing to directors in respect of defined contribution pension schemes (2023 - £NIL).

Page 18

 


THE GALLUP ORGANIZATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
804,619
582,284


804,619
582,284


Total current tax
804,619
582,284

Deferred tax


Accelerated capital allowances
10,328
1,820

Short term timing differences
(10,722)
1,723

Total deferred tax
(394)
3,543


Taxation on profit on ordinary activities
804,225
585,827

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 23.52% (2023 - 23.52%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
3,149,935
2,333,297


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.52%)
787,483
548,791

Effects of:


Expenses not deductible for tax purposes
-
57

Fixed asset differences
19,120
17,023

Adjustments to deferred tax charge in respect of prior periods
(10,722)
1,723

Adjustment to tax charge in respect of previous periods
(11,817)
(3,940)

Other differences leading to an increase (decrease) in the tax charge
20,161
22,690

Remeasurement of deferred tax for changes in tax rates
-
(517)

Total tax charge for the year
804,225
585,827

Page 19

 


THE GALLUP ORGANIZATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Tangible assets





Leasehold property
Fixtures and fittings
Equipment
Total

£
£
£
£



Cost


At 1 January 2024
1,843,535
451,252
539,119
2,833,906


Additions
122,290
29,135
100,798
252,223


Disposals
-
(11,030)
(163,058)
(174,088)



At 31 December 2024

1,965,825
469,357
476,859
2,912,041



Depreciation


At 1 January 2024
1,492,524
432,631
380,701
2,305,856


Charge for the year 
207,642
10,896
91,094
309,632


Disposals
-
(10,914)
(163,017)
(173,931)



At 31 December 2024

1,700,166
432,613
308,778
2,441,557



Net book value



At 31 December 2024
265,659
36,744
168,081
470,484



At 31 December 2023
351,011
18,621
158,418
528,050




11.


Fixed asset investments





Shares in group companies

£



Cost


Additions
19,142



At 31 December 2024
19,142




During the year, the Company acquired a 1.92% share holding in Gallup B.V. a group company.

Page 20

 


THE GALLUP ORGANIZATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Debtors


2024
2023
£
£



Trade debtors
3,740,677
8,133,131

Amounts owed by group undertakings
358,951
302,338

Other debtors
1,808
70,491

Prepayments and accrued income
3,052,736
2,447,015

Derivative financial assets
56,371
-

7,210,543
10,952,975



13.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
343,017
381,746

Amounts owed to group undertakings
1,688,477
975,104

Corporation tax
9,460
-

Other taxation and social security
511,936
504,392

Accruals and deferred income
9,294,046
8,769,031

Derivative financial liability
-
76,201

11,846,936
10,706,474



14.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Accruals and deferred income
-
120,839

-
120,839


Page 21

 


THE GALLUP ORGANIZATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

15.


Deferred taxation




2024


£






At beginning of year
(20,184)


Charged to profit or loss
394



At end of year
(19,790)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(32,346)
40,882

Short term timing differences
12,556
(61,066)

(19,790)
(20,184)


16.


Provisions




Reinstatement provision

£





At 1 January 2024
410,000


Addition in year
33,000



At 31 December 2024
443,000


17.


Allotted, called up & fully paid share capital

2024
2023
£
£
Authorised



3,000,000 (2023 - 3,000,000) Ordinary shares of £1.00 each
3,000,000
3,000,000

Allotted, called up and fully paid



2,000,000 (2023 - 2,000,000) Ordinary shares of £1.00 each
2,000,000
2,000,000

Each ordinary share has equal voting and dividend rights.


Page 22

 


THE GALLUP ORGANIZATION LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

18.


Reserves

Share capital account

The share capital account represents the par value of the shares allotted in the Company. 

Profit and loss account

This reserve records retained earnings and accumulated losses.


19.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
922,655
1,152,599

Later than 1 year and not later than 5 years
5,374,484
825,754

Later than 5 years
11,124,395
-

17,421,534
1,978,353


20.


Ultimate parent company

The Company is 100% owned by Gallup BV with the ultimate parent undertaking being Gallup Inc., a company which is incorporated in Delaware, USA. 
Gallup Inc. is both the largest and smallest entity in the group that prepares consolidated accounts.
The directors consider that, as Gallup Inc. is employee-owned, there is no single ultimate controlling party.
 

 
Page 23