IRIS Accounts Production v24.3.2.46 07318151 Board of Directors 1.7.23 30.6.24 30.6.24 11.3.25 false true false false true false Auditors Opinion A ordinary 0.01000 B ordinary 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh073181512023-06-30073181512024-06-30073181512023-07-012024-06-30073181512022-08-31073181512022-09-012023-06-30073181512023-06-3007318151ns15:EnglandWales2023-07-012024-06-3007318151ns14:PoundSterling2023-07-012024-06-3007318151ns10:Director12023-07-012024-06-3007318151ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3007318151ns10:SmallEntities2023-07-012024-06-3007318151ns10:Audited2023-07-012024-06-3007318151ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3007318151ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3007318151ns10:FullAccounts2023-07-012024-06-3007318151ns10:OrdinaryShareClass12023-07-012024-06-3007318151ns10:OrdinaryShareClass22023-07-012024-06-3007318151ns10:Director22023-07-012024-06-3007318151ns10:RegisteredOffice2023-07-012024-06-3007318151ns5:CurrentFinancialInstruments2024-06-3007318151ns5:CurrentFinancialInstruments2023-06-3007318151ns5:ShareCapital2024-06-3007318151ns5:ShareCapital2023-06-3007318151ns5:SharePremium2024-06-3007318151ns5:SharePremium2023-06-3007318151ns5:RetainedEarningsAccumulatedLosses2024-06-3007318151ns5:RetainedEarningsAccumulatedLosses2023-06-3007318151ns5:PlantMachinery2023-07-012024-06-3007318151ns5:FurnitureFittings2023-07-012024-06-3007318151ns5:MotorVehicles2023-07-012024-06-3007318151ns5:ComputerEquipment2023-07-012024-06-3007318151ns5:PlantMachinery2023-06-3007318151ns5:FurnitureFittings2023-06-3007318151ns5:MotorVehicles2023-06-3007318151ns5:ComputerEquipment2023-06-3007318151ns5:PlantMachinery2024-06-3007318151ns5:FurnitureFittings2024-06-3007318151ns5:MotorVehicles2024-06-3007318151ns5:ComputerEquipment2024-06-3007318151ns5:PlantMachinery2023-06-3007318151ns5:FurnitureFittings2023-06-3007318151ns5:MotorVehicles2023-06-3007318151ns5:ComputerEquipment2023-06-3007318151ns5:CostValuation2023-06-3007318151ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3007318151ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3007318151ns10:OrdinaryShareClass12024-06-3007318151ns10:OrdinaryShareClass22024-06-30073181511ns10:Director12023-06-30073181511ns10:Director12022-08-31073181511ns10:Director12023-07-012024-06-30073181511ns10:Director12022-09-012023-06-30073181511ns10:Director12024-06-30073181511ns10:Director12023-06-30
REGISTERED NUMBER: 07318151 (England and Wales)






















Financial Statements

for the Year Ended 30 June 2024

for

Plumb Galaxy Ltd

Plumb Galaxy Ltd (Registered number: 07318151)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Plumb Galaxy Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: S S Mei
P Johnson





REGISTERED OFFICE: FJN House
Freeman Road
North Hykeham
Lincoln
Lincolnshire
LN6 9AP





REGISTERED NUMBER: 07318151 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Plumb Galaxy Ltd (Registered number: 07318151)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,669 42,896
Investments 5 2 2
32,671 42,898

CURRENT ASSETS
Debtors 6 10,688,756 4,501,377
Cash at bank 296,457 1,662,455
10,985,213 6,163,832
CREDITORS
Amounts falling due within one year 7 7,395,722 3,046,878
NET CURRENT ASSETS 3,589,491 3,116,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,622,162

3,159,852

CAPITAL AND RESERVES
Called up share capital 8 103 103
Share premium 12,316,564 12,316,564
Retained earnings (8,694,505 ) (9,156,815 )
SHAREHOLDERS' FUNDS 3,622,162 3,159,852

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 Board of Directors and authorised for issue on 11 March 2025 and were signed on its behalf by:





S S Mei - Director


Plumb Galaxy Ltd (Registered number: 07318151)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Plumb Galaxy Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Reporting period
In the previous period the company shortened its year end from 31 August 2023 to 30 June 2023. For this reason the previous period of 10 months is not directly comparable to the current period of 12 months.

Preparation of consolidated financial statements
The financial statements contain information about Plumb Galaxy Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 10% on cost and Straight line over 4 years
Fixtures and fittings - Straight line over 4 years
Motor vehicles - 33.33% Straight line
Computer equipment - Straight line over 4 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.


Plumb Galaxy Ltd (Registered number: 07318151)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 21,259 91,553 56,518 105,181 274,511
Additions - - 4,000 441 4,441
At 30 June 2024 21,259 91,553 60,518 105,622 278,952
DEPRECIATION
At 1 July 2023 13,321 79,407 51,133 87,754 231,615
Charge for year 3,859 3,657 5,385 1,767 14,668
At 30 June 2024 17,180 83,064 56,518 89,521 246,283
NET BOOK VALUE
At 30 June 2024 4,079 8,489 4,000 16,101 32,669
At 30 June 2023 7,938 12,146 5,385 17,427 42,896

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 2
NET BOOK VALUE
At 30 June 2024 2
At 30 June 2023 2

Plumb Galaxy Ltd (Registered number: 07318151)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 118,570 77,954
Amounts owed by group undertakings 2,257 -
Other debtors 10,567,929 4,423,423
10,688,756 4,501,377

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 23,617
Amounts owed to group undertakings 7,133,361 2,838,194
Taxation and social security 49,634 121,039
Other creditors 212,727 64,028
7,395,722 3,046,878

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,208 A ordinary 0.01 102 102
104 B ordinary 0.01 1 1
103 103

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Sewell BA (Hons) FCA CTA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

10. CONTINGENT LIABILITIES

There is a fixed and floating charge secured over the assets of the company, in favour of Barclays plc. This
relates to borrowings in connected companies.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 June 2024 and the period ended 30 June 2023:

2024 2023
£    £   
S S Mei
Balance outstanding at start of year 67 101,704
Amounts advanced 193 1,551
Amounts repaid (260 ) (103,188 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 67

The balance outstanding attracts interest at the HM Revenue & Customs official rate and is repayable on demand.

Plumb Galaxy Ltd (Registered number: 07318151)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

12. IMMEDIATE PARENT UNDERTAKING AND ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S S Mei.

The immediate parent undertaking is Tanger Holding Limited. Plumb Galaxy Limited is a wholly owned subsidiary of Tanger Holding Limited. Their registered office is:

8 Anglesey Drive
Poynton
Stockport
SK12 1BT

The ultimate parent is Tanger Holding Limited. Consolidated financial statements for the ultimate parent company are filed with the Registrar of Companies where copies may be obtained.

The entity is controlled by S S Mei by virtue of his shareholdings in the ultimate parent company.