Gallasa Ltd SC782877 false 2023-09-18 2024-09-30 2024-09-30 The principal activity of the company is that of private psychological healthcare. Digita Accounts Production Advanced 6.30.9574.0 true SC782877 2023-09-18 2024-09-30 SC782877 2024-09-30 SC782877 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC782877 core:ShareCapital 2024-09-30 SC782877 core:CurrentFinancialInstruments 2024-09-30 SC782877 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 SC782877 core:Non-currentFinancialInstruments 2024-09-30 SC782877 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 SC782877 core:OtherResidualIntangibleAssets 2024-09-30 SC782877 core:FurnitureFittings 2024-09-30 SC782877 core:LandBuildings core:LongLeaseholdAssets 2024-09-30 SC782877 core:OfficeEquipment 2024-09-30 SC782877 bus:SmallEntities 2023-09-18 2024-09-30 SC782877 bus:AuditExemptWithAccountantsReport 2023-09-18 2024-09-30 SC782877 bus:FilletedAccounts 2023-09-18 2024-09-30 SC782877 bus:SmallCompaniesRegimeForAccounts 2023-09-18 2024-09-30 SC782877 bus:RegisteredOffice 2023-09-18 2024-09-30 SC782877 bus:Director1 2023-09-18 2024-09-30 SC782877 bus:PrivateLimitedCompanyLtd 2023-09-18 2024-09-30 SC782877 bus:Agent1 2023-09-18 2024-09-30 SC782877 core:IntangibleAssetsOtherThanGoodwill 2023-09-18 2024-09-30 SC782877 core:OtherResidualIntangibleAssets 2023-09-18 2024-09-30 SC782877 core:ComputerEquipment 2023-09-18 2024-09-30 SC782877 core:FurnitureFittings 2023-09-18 2024-09-30 SC782877 core:LandBuildings 2023-09-18 2024-09-30 SC782877 core:LandBuildings core:LongLeaseholdAssets 2023-09-18 2024-09-30 SC782877 core:OfficeEquipment 2023-09-18 2024-09-30 SC782877 countries:Scotland 2023-09-18 2024-09-30 iso4217:GBP xbrli:pure

Registration number: SC782877

Gallasa Ltd

Unaudited Filleted Financial Statements

for the Period from 18 September 2023 to 30 September 2024

 

Gallasa Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

Accountants' Report

8

 

Gallasa Ltd

Company Information

Director

Mrs Sarah Louise Gallacher

Registered office

8A Rutland Square
Edinburgh
EH1 2AS

Accountants

EQ Accountants Ltd Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

Gallasa Ltd

(Registration number: SC782877)
Balance Sheet as at 30 September 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

18,900

Tangible assets

5

41,762

 

60,662

Current assets

 

Debtors

6

7,744

Cash at bank and in hand

 

1,094

 

8,838

Creditors: Amounts falling due within one year

7

(69,973)

Net current liabilities

 

(61,135)

Total assets less current liabilities

 

(473)

Creditors: Amounts falling due after more than one year

7

(32,971)

Net liabilities

 

(33,444)

Capital and reserves

 

Called up share capital

100

Retained earnings

(33,544)

Shareholders' deficit

 

(33,444)

For the financial period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 February 2025
 

.........................................
Mrs Sarah Louise Gallacher
Director

 

Gallasa Ltd

Notes to the Unaudited Financial Statements for the Period from 18 September 2023 to 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

It is the opinion of the director that there is reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason the going concern basis has been adopted in preparing the financial statements for the period ended 30 September 2024.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

5 years straight line

Fixtures and fittings

25% reducing balance

Computer equipment

33% on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Gallasa Ltd

Notes to the Unaudited Financial Statements for the Period from 18 September 2023 to 30 September 2024

Asset class

Amortisation method and rate

Franchise

10% straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including the director) during the period, was 2.

 

Gallasa Ltd

Notes to the Unaudited Financial Statements for the Period from 18 September 2023 to 30 September 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions

21,000

21,000

At 30 September 2024

21,000

21,000

Amortisation

Amortisation charge

2,100

2,100

At 30 September 2024

2,100

2,100

Carrying amount

At 30 September 2024

18,900

18,900

5

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

Additions

32,609

18,157

3,070

53,836

At 30 September 2024

32,609

18,157

3,070

53,836

Depreciation

Charge for the period

6,522

4,539

1,013

12,074

At 30 September 2024

6,522

4,539

1,013

12,074

Carrying amount

At 30 September 2024

26,087

13,618

2,057

41,762

Included within the net book value of land and buildings above is £26,088 in respect of long leasehold land and buildings.
 

6

Debtors

Current

2024
£

Prepayments

7,744

 

7,744

 

Gallasa Ltd

Notes to the Unaudited Financial Statements for the Period from 18 September 2023 to 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

8

12,310

Other creditors

 

57,663

 

69,973

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

32,971

8

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

32,971

Current loans and borrowings

2024
£

Bank borrowings

12,310

9

Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
 

30 September 2024
 £

Within one year

24,000

Between one and five years

86,000

110,000

 

Gallasa Ltd

Notes to the Unaudited Financial Statements for the Period from 18 September 2023 to 30 September 2024

10

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

18 September 2023 to 30 September 2024
 £

Mrs S Gallacher

55,163

 

55,163

The maximum balance outstanding during the year amounted to £55,163.

The directors current accounts are repayable on demand.

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Gallasa Ltd
for the Period Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gallasa Ltd for the period ended 30 September 2024 as set out on pages 2 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Gallasa Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Gallasa Ltd and state those matters that we have agreed to state to the Board of Directors of Gallasa Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gallasa Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Gallasa Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Gallasa Ltd. You consider that Gallasa Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Gallasa Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

18 February 2025