BrightAccountsProduction v1.0.0 v1.0.0 2023-07-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal acitivity of the company is that of a bookmakers. 27 March 2025 4 4 NI633573 2024-06-30 NI633573 2023-06-30 NI633573 2022-06-30 NI633573 2023-07-01 2024-06-30 NI633573 2022-07-01 2023-06-30 NI633573 uk-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI633573 uk-curr:PoundSterling 2023-07-01 2024-06-30 NI633573 uk-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI633573 uk-bus:FullAccounts 2023-07-01 2024-06-30 NI633573 uk-bus:Director1 2023-07-01 2024-06-30 NI633573 uk-bus:Director2 2023-07-01 2024-06-30 NI633573 uk-bus:Director3 2023-07-01 2024-06-30 NI633573 uk-bus:Director4 2023-07-01 2024-06-30 NI633573 uk-bus:RegisteredOffice 2023-07-01 2024-06-30 NI633573 uk-bus:Agent1 2023-07-01 2024-06-30 NI633573 uk-core:ShareCapital 2024-06-30 NI633573 uk-core:ShareCapital 2023-06-30 NI633573 uk-core:RetainedEarningsAccumulatedLosses 2024-06-30 NI633573 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI633573 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-06-30 NI633573 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-06-30 NI633573 uk-bus:FRS102 2023-07-01 2024-06-30 NI633573 uk-core:LandBuildings 2023-07-01 2024-06-30 NI633573 uk-core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 NI633573 uk-core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 NI633573 uk-core:LicencesFranchises 2023-06-30 NI633573 uk-core:CustomerRelationships 2023-06-30 NI633573 uk-core:LicencesFranchises 2024-06-30 NI633573 uk-core:CustomerRelationships 2024-06-30 NI633573 uk-core:LicencesFranchises 2023-07-01 2024-06-30 NI633573 uk-core:CustomerRelationships 2023-07-01 2024-06-30 NI633573 uk-core:WithinOneYear 2024-06-30 NI633573 uk-core:WithinOneYear 2023-06-30 NI633573 uk-core:WithinOneYear 2024-06-30 NI633573 uk-core:WithinOneYear 2023-06-30 NI633573 uk-core:AfterOneYear 2024-06-30 NI633573 uk-core:AfterOneYear 2023-06-30 NI633573 uk-core:AfterOneYear 2024-06-30 NI633573 uk-core:AfterOneYear 2023-06-30 NI633573 uk-core:BetweenOneTwoYears 2024-06-30 NI633573 uk-core:BetweenOneTwoYears 2023-06-30 NI633573 uk-core:BetweenTwoFiveYears 2024-06-30 NI633573 uk-core:BetweenTwoFiveYears 2023-06-30 NI633573 uk-core:EmployeeBenefits 2023-06-30 NI633573 uk-core:EmployeeBenefits 2023-07-01 2024-06-30 NI633573 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-06-30 NI633573 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-06-30 NI633573 uk-core:OtherDeferredTax 2024-06-30 NI633573 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-06-30 NI633573 uk-core:EmployeeBenefits 2024-06-30 NI633573 2023-07-01 2024-06-30 NI633573 uk-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
Company Registration Number: NI633573
 
 
Gala Case Limited
 
Unaudited Financial Statements
 
for the financial year ended 30 June 2024
Gala Case Limited
Directors and Other Information

 
Directors Mr Gary Toal
Mrs Lauren Turley
Ms. Caroline Toal
Mr. Sean Toal
 
 
Company Registration Number NI633573
 
 
Registered Office 15A Pottingers Court
Belfast
Belfast
 
 
Business Address C/O Toals Bookmakers
15A Pottingers Court
Belfast
 
 
Accountants HCA Chartered Accountants Ltd
Chartered Accountants
12 Cromac Place
Belfast
Co. Antrim
BT7 2JB
Northern Ireland
 
 
Bankers AIB (NI)
  42-44 Hill Street
  Newry
  Co. Down
  BT34 1AU
   
   
  Barclays Bank PLC
  13th Floor, The Ewart, 3 Bedford Street
  Belfast
  BT2 7EJ
 
   
Solicitors Anderson Agnew & Co
  14 Mill Street
  Ballymena
  BT43 5AE
  Northern Ireland
   
   
  Mills Selig
  21 Arthur Street
  Belfast



Gala Case Limited
Company Registration Number: NI633573
Balance Sheet
as at 30 June 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 2,286,089 2,290,851
Tangible assets 5 450,333 594,401
───────── ─────────
Fixed Assets 2,736,422 2,885,252
───────── ─────────
 
Current Assets
Debtors 6 5,648,112 6,841,027
Cash and cash equivalents 5,530,549 768,653
───────── ─────────
11,178,661 7,609,680
───────── ─────────
Creditors: amounts falling due within one year 7 (918,353) (470,513)
───────── ─────────
Net Current Assets 10,260,308 7,139,167
───────── ─────────
Total Assets less Current Liabilities 12,996,730 10,024,419
 
Creditors:
amounts falling due after more than one year 8 (3,000,000) (1,500,000)
 
Provisions for liabilities 10 (196,510) (188,643)
───────── ─────────
Net Assets 9,800,220 8,335,776
═════════ ═════════
 
Capital and Reserves
Called up share capital 1,500,202 1,500,202
Retained earnings 8,300,018 6,835,574
───────── ─────────
Equity attributable to owners of the company 9,800,220 8,335,776
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 27 March 2025 and signed on its behalf by
           
           
________________________________          
Mr Gary Toal          
Director          
           



Gala Case Limited
Notes to the Financial Statements
for the financial year ended 30 June 2024

   
1. General Information
 
Gala Case Limited is a private company limited by shares incorporated in Northern Ireland. 15A Pottingers Court, Belfast, Belfast is the registered office, which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 June 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the value of bets placed and gaming machine income, less amounts paid out to customers in winnings and returns of stake. Revenue is recognised upon acceptance of bets and on receipt of gaming machine stakes.
 
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
 
Intangible assets
 
Bookmaker Licences
Bookmaker Licences are valued at cost less (where appropriate) accumulated amortisation. Such licences are only amortised if there is an indication of impairment.
 
Lease Premium
Lease Premium are valued at cost less accumulated amortisation.
 
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 21 years.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 2% reducing balance
  Fixtures, fittings and equipment - 20% reducing balance
  Leasehold Expenditure - 5% straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing
Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Related parties
For the purposes of these financial statements a party is considered to be related to the company if:
 
the party has the ability, directly or indirectly, through one or more intermediaries to control the company or exercise significant influence over the company in making financial and operating policy decisions or has joint control over the company;
the company and the party are subject to common control;
the party is an associate of the company or forms part of a joint venture with the company;
the party is a member of key management personnel of the company or the company's parent, or a close family member of such as an individual, or is an entity under the control, joint control or significant influence of such individuals;
the party is a close family member of a party referred to above or is an entity under the control or significant influence of such individuals; or
the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company.
 
Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the company.
 
Employee benefits
The company's employees participate in a defined contribution pension scheme provided by Toals Bookmakers. The assets of the scheme are held separately from those of that company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Financial Instruments
 
Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
 
Exceptional item
The company discloses exceptional items where, in the opinion of the Directors, they warrant separate disclosure in order to assist reader of the financial statements in understanding their impacts on the reported financial performance of the company.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 4, (2023 - 4).
 
  2024 2023
  Number Number
 
Directors 4 4
  ═════════ ═════════
         
4. Intangible assets
  Bookmaker Lease  
  Licences Premium Total
  £ £ £
Cost
At 1 July 2023 2,963,825 100,000 3,063,825
  ───────── ───────── ─────────
 
At 30 June 2024 2,963,825 100,000 3,063,825
  ───────── ───────── ─────────
Amortisation
At 1 July 2023 734,878 38,096 772,974
Charge for financial year - 4,762 4,762
  ───────── ───────── ─────────
At 30 June 2024 734,878 42,858 777,736
  ───────── ───────── ─────────
Net book value
At 30 June 2024 2,228,947 57,142 2,286,089
  ═════════ ═════════ ═════════
At 30 June 2023 2,228,947 61,904 2,290,851
  ═════════ ═════════ ═════════
 
Bookmaker licences are not amortised unless there in an indication of impairment. The lease premium is written off over the period of the lease (21 years).

During the year the Directors conducted an impairment review of the licences, and an amortisation charge of £nil  (2023: £387,653) was applied.
           
5. Tangible assets
  Land and Fixtures, Leasehold Total
  buildings fittings and Expenditure  
  freehold equipment    
  £ £ £ £
Cost
At 1 July 2023 499,300 524,485 365,000 1,388,785
Additions - 171,577 - 171,577
Disposals (499,300) - - (499,300)
  ───────── ───────── ───────── ─────────
At 30 June 2024 - 696,062 365,000 1,061,062
  ───────── ───────── ───────── ─────────
Depreciation and impairments
At 1 July 2023 264,300 384,084 146,000 794,384
Charge for the financial year - 62,395 18,250 80,645
On disposals (264,300) - - (264,300)
  ───────── ───────── ───────── ─────────
At 30 June 2024 - 446,479 164,250 610,729
  ───────── ───────── ───────── ─────────
Net book value
At 30 June 2024 - 249,583 200,750 450,333
  ═════════ ═════════ ═════════ ═════════
At 30 June 2023 235,000 140,401 219,000 594,401
  ═════════ ═════════ ═════════ ═════════
       
6. Debtors 2024 2023
  £ £
 
Amounts owed by connected parties (Note 13) 5,648,112 6,841,027
  ═════════ ═════════
 
Amounts owed to / from connected parties include loans to / from companies controlled by a director. Interest is charged on an average basis based on the balance outstanding during the year, at commercial rates. At the reporting date, Toals Bookmakers owed £3,020,190 to the company (2023: £4,724,058), Hampton Properties (N.I.) Limited owed £2,227,922 to the company (2023: £2,116,969) and Gala Case Properties Limited owed £400,000 to the company (2023: £nil)

During the year, interest was recognised on the loans of £217,500, £110,953 and £6,250 (2023: interest income of £251,870, £69,269 and £nil). The loans are unsecured and repayable on demand.
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank loans and overdrafts 400,000 -
Taxation  (Note 9) 299,074 349,839
Directors' current accounts 103,422 92,976
Other creditors 33,750 18,000
Accruals 82,107 9,698
  ───────── ─────────
  918,353 470,513
  ═════════ ═════════
 
The bank loan was secured by a fixed and floating charge over all the property or undertaking of the company, by Barclays Bank PLC.


       
8. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loans and overdraft 1,500,000 -
Shares classified as financial liabilities 1,500,000 1,500,000
  ───────── ─────────
  3,000,000 1,500,000
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 400,000 -
Repayable between one and two years 400,000 -
Repayable between two and five years 1,100,000 -
  ───────── ─────────
  1,900,000 -
  ═════════ ═════════
 
       
9. Taxation 2024 2023
  £ £
 
Creditors:
Corporation tax 299,074 349,839
  ═════════ ═════════
           
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Other Total Total
  allowances differences    
         
      2024 2023
  £ £ £ £
 
At financial year start 30,655 157,988 188,643 174,624
Charged to profit and loss 28,096 (20,229) 7,867 14,019
  ───────── ───────── ───────── ─────────
At financial year end 58,751 137,759 196,510 188,643
  ═════════ ═════════ ═════════ ═════════
       
11. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 June 2024.
       
12. Directors' remuneration 2024 2023
  £ £
 
Remuneration including pension contributions 36,750 154,375
  ═════════ ═════════
           
13. Related party transactions
  Balance Movement Balance Maximum
  2024 in year 2023 in year
  £ £ £ £
 
Toals Bookmakers 3,020,190 (1,703,868) 4,724,058 4,724,058
Hampton Properties (N.I.) Ltd 2,227,922 110,953 2,116,969 2,227,922
Galacase Properties Ltd 400,000 400,000 - 400,000
  ───────── ───────── ───────── ═════════
  5,648,112 (1,192,915) 6,841,027  
  ═════════ ═════════ ═════════  
 
The related parties of the company are its directors, Toals Bookmakers (a company controlled by a director), Biztech Software (NI) Limited (a company is which a director has a 42% interest) and the Toals Special Pension Fund (that owns part of the premises from which the company trades). All transactions with related parties are conducted at open market value.

During the year, the company paid £37,500 (2023: £11,000) to Hampton Properties partnership in respect of rent of the Belfast premises under the terms of a commercial lease agreement.

During the year, the company also paid £30,500 to Hampton Properties (N.I.) Ltd (2023: £30,500) in respect of the rent of premises under the terms of a commercial lease agreement. The companies are connected due to common directors.
   
14. Directors' advances, credits and guarantees
 
At the year end, the company owed the directors £103,422 (2023:- £92,976).
   
15. Controlling interest
 
The controlling party is Gary Toal.
   
16. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.
       
17. Share Capital
 
Authorised and issued share capital comprises:
 
  2024 2023
  £ £
 
B Ordinary voting shares 45 45
C Ordinary non voting shares 100 100
A1 Ordinary Voting shares 19 19
A2 Ordinary Voting shares 19 19
A3 Ordinary Voting shares 19 19
Redeemable Preference shares 1,500,000 1,500,000
B Preference shares 1,500,000 1,500,000
  ───────── ─────────
  3,000,202 3,000,202
  ═════════ ═════════
 
1,500,000 £1 Redeemable Preference were classified as financial liabilities and included within creditors; amounts falling due after more than one year.

1,500,000 £1 B Preference shares were classed as equity and included within share capital.