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REGISTERED NUMBER: 07292168 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

GALLOPS EQUIPMENT MANUFACTURERS LIMITED

GALLOPS EQUIPMENT MANUFACTURERS LIMITED (REGISTERED NUMBER: 07292168)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

GALLOPS EQUIPMENT MANUFACTURERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: P A McGuigan





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 07292168 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

GALLOPS EQUIPMENT MANUFACTURERS LIMITED (REGISTERED NUMBER: 07292168)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,084 1,475

CURRENT ASSETS
Stocks 10,500 10,500
Debtors 5 29,369 26,536
Cash at bank and in hand 4,141 4,698
44,010 41,734
CREDITORS
Amounts falling due within one year 6 33,742 33,975
NET CURRENT ASSETS 10,268 7,759
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,352

9,234

CREDITORS
Amounts falling due after more than one
year

7

(3,750

)

(6,751

)

PROVISIONS FOR LIABILITIES (271 ) (280 )
NET ASSETS 7,331 2,203

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 7,330 2,202
SHAREHOLDERS' FUNDS 7,331 2,203

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GALLOPS EQUIPMENT MANUFACTURERS LIMITED (REGISTERED NUMBER: 07292168)

BALANCE SHEET - continued
30 JUNE 2024


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 director and authorised for issue on 10 March 2025 and were signed by:





P A McGuigan - Director


GALLOPS EQUIPMENT MANUFACTURERS LIMITED (REGISTERED NUMBER: 07292168)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Gallops Equipment Manufacturers 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 directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover
Turnover represents invoiced sales of goods excluding VAT.

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 - 20% on reducing balance
Computer equipment - 33% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

GALLOPS EQUIPMENT MANUFACTURERS LIMITED (REGISTERED NUMBER: 07292168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 12,649 2,086 14,735
DEPRECIATION
At 1 July 2023 11,298 1,962 13,260
Charge for year 271 120 391
At 30 June 2024 11,569 2,082 13,651
NET BOOK VALUE
At 30 June 2024 1,080 4 1,084
At 30 June 2023 1,351 124 1,475

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 29,369 26,536

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 3,000 3,000
Trade creditors 3,962 5,710
Tax 3,969 4,018
Social security and other taxes 1,148 1,150
VAT 9,084 9,559
Other creditors 10,616 8,576
Directors' current accounts 27 24
Accrued expenses 1,936 1,938
33,742 33,975

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans - 2-5 years 3,750 6,751

8. RELATED PARTY DISCLOSURES

At the year end the company owed £27 to (2023- £24) the director, Mr P McGuigan. The loan is interest free and payable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GALLOPS EQUIPMENT MANUFACTURERS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gallops Equipment Manufacturers Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Gallops Equipment Manufacturers Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gallops Equipment Manufacturers Limited and state those matters that we have agreed to state to the director of Gallops Equipment Manufacturers Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gallops Equipment Manufacturers Limited and its director for our work or for this report.

It is your duty to ensure that Gallops Equipment Manufacturers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gallops Equipment Manufacturers Limited. You consider that Gallops Equipment Manufacturers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gallops Equipment Manufacturers Limited. 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 financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


10 March 2025