Registered number
07654973
Gallops Architectural Limited
Report and Unaudited Accounts
31 July 2024
Gallops Architectural Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Accountants' report 3
Profit and loss account 4
Balance sheet 5
Statement of changes in equity 6
Notes to the accounts 7
Gallops Architectural Limited
Company Information
Directors
Geraint Gallop
Jody Gallop
Rikki Gallop
Secretary
Geraint Gallop
Accountants
Catherine A Williams Ltd
The Old Bank
Beaufort Street
Crickhowell
Powys
NP8 1AD
Registered office
Tyr Ash Farm
Brecon Road
Crickhowell
Powys
NP8 1SF
Registered number
07654973
Gallops Architectural Limited
Registered number: 07654973
Directors' Report
The directors present their report and accounts for the year ended 31 July 2024.
Principal activities
The company's principal activity during the year continued to be to be the sale of architectural salvage.
Directors
The following persons served as directors during the year:
Geraint Gallop
Jody Gallop
Rikki Gallop
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 7 March 2025 and signed on its behalf.
Jody Gallop
Director
Gallops Architectural Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Gallops Architectural Limited for the year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gallops Architectural Limited for the year ended 31 July 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Gallops Architectural Limited, as a body, in accordance with the terms of our engagement letter dated 26 September 2012. Our work has been undertaken solely to prepare for your approval the accounts of Gallops Architectural Limited and state those matters that we have agreed to state to the Board of Directors of Gallops Architectural Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gallops Architectural Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Gallops Architectural Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gallops Architectural Limited. You consider that Gallops Architectural 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 accounts of Gallops Architectural 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 accounts.
Catherine A Williams Ltd
Chartered Accountants
The Old Bank
Beaufort Street
Crickhowell
Powys
NP8 1AD
7 March 2025
Gallops Architectural Limited
Profit and Loss Account
for the year ended 31 July 2024
2024 2023 2022 2021 2020
£ £ £ £ £
Turnover 621,216 629,081 607,474 521,488 391,830
Cost of sales (344,729) (436,566) (324,866) (344,414) (223,343)
Gross profit 276,487 192,515 282,608 177,074 168,487
44.51% 30.60% 46.52% 33.96% 43.00%
Administrative expenses (135,816) (133,218) (121,615) (111,066) (96,536)
-
Operating profit 140,671 59,297 160,993 66,008 81,951
Interest receivable 35 64 - 1 12
Interest payable (2,500) (2,507) (2,506) (12) -
Profit before taxation 138,206 56,854 158,487 69,580 81,963
Tax on profit (34,204) (11,255) (29,766) (13,761) (15,573)
Profit for the financial year 104,002 45,599 128,721 55,819 66,390
Gallops Architectural Limited
Registered number: 07654973
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 17,205 19,764
Tangible assets 4 14,804 19,114
32,009 38,878
Current assets
Stocks 130,000 135,444
Debtors 5 47,653 51,279
Cash at bank and in hand 158,081 64,727
335,734 251,450
Creditors: amounts falling due within one year 6 (295,228) (240,960)
Net current assets 40,506 10,490
Total assets less current liabilities 72,515 49,368
Provisions for liabilities (3,631) (3,631)
Net assets 68,884 45,737
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 67,884 44,737
Shareholders' funds 68,884 45,737
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jody Gallop
Director
Approved by the board on 7 March 2025
Gallops Architectural Limited
Statement of Changes in Equity
for the year ended 31 July 2024
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 August 2022 1,000 - - 89,994 90,994
Profit for the financial year 45,599 45,599
Dividends (90,856) (90,856)
At 31 July 2023 1,000 - - 44,737 45,737
At 1 August 2023 1,000 - - 44,737 45,737
Profit for the financial year 104,002 104,002
Dividends (80,855) (80,855)
At 31 July 2024 1,000 - - 67,884 68,884
Gallops Architectural Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% Straight Line /over 6.67 years
Motor Vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 44,108
At 31 July 2024 44,108
Amortisation
At 1 August 2023 24,344
Provided during the year 2,559
At 31 July 2024 26,903
Net book value
At 31 July 2024 17,205
At 31 July 2023 19,764
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 30,198 28,123 58,321
Additions 364 - 364
At 31 July 2024 30,562 28,123 58,685
Depreciation
At 1 August 2023 22,949 16,258 39,207
Charge for the year 1,708 2,966 4,674
At 31 July 2024 24,657 19,224 43,881
Net book value
At 31 July 2024 5,905 8,899 14,804
At 31 July 2023 7,249 11,865 19,114
5 Debtors 2024 2023
£ £
Trade debtors 35,493 41,349
Other debtors 12,160 9,930
47,653 51,279
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 297 468
Trade creditors 23,963 18,367
Taxation and social security costs 49,567 23,465
Other creditors 221,401 198,660
295,228 240,960
7 Loans to Directors
During the year Geraint Gallop used a current account with the company to record amounts due to him and amounts drawn by him. The account shows an amount owing back to Geraint Gallop as director as at 31st July 2024 of £8,672.37 (2023: £6,289.21).

Jody Gallop used a current account with the company to record amounts due to him and amounts drawn by him. The account shows an amount owing back to Jody Gallop as director as at 31st July 2024 of £104,913.80 (2023: £94,793.80).

Rikki Gallop used a current account with the company to record amounts due to him and amounts drawn by him. The account shows an amount owing back to Rikki Gallop as director as at 31st July 2024 of £104,913.79 (2023: £94,793.79).

The amounts owed are repayable on demand and pay interest.
8 Related party transactions
None noted
9 Controlling party
At the year end Mr Jody Gallop and Mr Rikki Gallop each held 40% of the share capital of the company, together they are therefore the ulitimate controlling parties of the company.
10 Other information
Gallops Architectural Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Tyr Ash Farm
Brecon Road
Crickhowell
Powys
NP8 1SF
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