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REGISTERED NUMBER: 01517049 (England and Wales)
























AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

GALLO UK LIMITED

GALLO UK LIMITED (REGISTERED NUMBER: 01517049)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GALLO UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: R Preve
J Morrison
E Preve





REGISTERED OFFICE: 3 & 4 Park Court
Riccall Road
Escrick
York
North Yorkshire
YO19 6ED





REGISTERED NUMBER: 01517049 (England and Wales)





AUDITORS: Just Audit Limited
Chartered Accountants & Statutory
Auditors
Strelley Hall, Main Street
Strelley, Nottingham
NG8 6PE

GALLO UK LIMITED (REGISTERED NUMBER: 01517049)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 29,189 42,822
Investments 5 29,709 25,000
58,898 67,822

CURRENT ASSETS
Stocks 312,505 336,291
Debtors 6 770,655 882,304
Cash at bank 171,348 154,049
1,254,508 1,372,644
CREDITORS
Amounts falling due within one year 7 1,882,482 2,170,358
NET CURRENT LIABILITIES (627,974 ) (797,714 )
TOTAL ASSETS LESS CURRENT LIABILITIES (569,076 ) (729,892 )

CREDITORS
Amounts falling due after more than one year 8 13,119 23,412
NET LIABILITIES (582,195 ) (753,304 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (582,295 ) (753,404 )
SHAREHOLDERS' FUNDS (582,195 ) (753,304 )

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 28th March 2025 and were signed on its behalf by:





J Morrison - Director


GALLO UK LIMITED (REGISTERED NUMBER: 01517049)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024

1. STATUTORY INFORMATION

Gallo UK 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 financial statements are prepared in £ Sterling.

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 recognised once goods are received by the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

Investments in subsidiaries
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Where stock on order has left its origin and is in transit it is included as stock, with the relevant liability also recorded in the accounts.

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.


GALLO UK LIMITED (REGISTERED NUMBER: 01517049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 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.

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.

Operating leases
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to the fact that the company has the continued support of the group for a period in excess of 12 months from the date of approval of these accounts.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2024 56,000 6,933 62,933
Additions - 1,289 1,289
Disposals - (1,510 ) (1,510 )
At 31st December 2024 56,000 6,712 62,712
DEPRECIATION
At 1st January 2024 14,000 6,111 20,111
Charge for year 14,000 544 14,544
Eliminated on disposal - (1,132 ) (1,132 )
At 31st December 2024 28,000 5,523 33,523
NET BOOK VALUE
At 31st December 2024 28,000 1,189 29,189
At 31st December 2023 42,000 822 42,822

GALLO UK LIMITED (REGISTERED NUMBER: 01517049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Shares in group undertakings 27,143 25,000
Other loans 2,566 -
29,709 25,000

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1st January 2024 25,000
Additions 2,143
At 31st December 2024 27,143
NET BOOK VALUE
At 31st December 2024 27,143
At 31st December 2023 25,000
Other
loans
£   
New in year 2,566
At 31st December 2024 2,566

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 650,808 730,647
Other debtors 119,847 151,657
770,655 882,304

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 10,293 9,414
Trade creditors 51,375 43,288
Amounts owed to group undertakings 1,649,367 1,917,683
Taxation and social security 4,628 4,866
Other creditors 166,819 195,107
1,882,482 2,170,358

GALLO UK LIMITED (REGISTERED NUMBER: 01517049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 13,119 23,412

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 10,293 9,414
Between one and five years 13,119 23,412
23,412 32,826

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

The Report of the Auditors was unqualified.

David Fletcher BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Just Audit Limited

11. PARENT COMPANY

The only parent undertaking which prepares consolidated financial statements which include the results of Gallo UK Limited as at 31 December 2024 is Riso Gallo Spa. Copies of its consolidated financial statements can be obtained from its registered office address Viale Riccardo Preve, 4, 27038 Robbio PV.