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REGISTERED NUMBER: 13610180 (England and Wales)















Gallos Technologies Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024






Gallos Technologies Limited (Registered number: 13610180)

Contents of the Financial Statements
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gallos Technologies Limited

Company Information
for the year ended 30 September 2024







Directors: J Burch
S Collins
D Jones





Registered office: 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ





Registered number: 13610180 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Gallos Technologies Limited (Registered number: 13610180)

Balance Sheet
30 September 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 971,938 227,700
Tangible assets 5 49,942 53,393
Investments 6 2,564,641 780,085
3,586,521 1,061,178

Current assets
Debtors 7 654,361 359,246
Cash at bank 4,006,384 3,018,301
4,660,745 3,377,547
Creditors
Amounts falling due within one year
(including convertible debt)

8

10,180,176

2,441,464
Net current (liabilities)/assets (5,519,431 ) 936,083
Total assets less current liabilities (1,932,910 ) 1,997,261

Capital and reserves
Called up share capital 9 212 212
Share premium 10 5,420,938 5,420,938
Retained earnings 10 (7,354,060 ) (3,423,889 )
Shareholders' funds (1,932,910 ) 1,997,261

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

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

The directors acknowledge their 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.

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 8 April 2025 and were signed on its behalf by:



J Burch - Director



D Jones - Director


Gallos Technologies Limited (Registered number: 13610180)

Notes to the Financial Statements
for the year ended 30 September 2024


1. Statutory information

Gallos Technologies 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, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
The financial statements have been prepared on a going concern basis. At the time of approving the financial statements. the Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Preparation of consolidated financial statements
The financial statements contain information about Gallos Technologies Limited 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.

Turnover represents amounts receivable for services provided in the year and is stated net of VAT.

Intangible assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Computer software is not amortised as currently under development.

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 - 33% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Interests in subsidiaries and associates are initially measured as cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from it's activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has a significant influence where it has the power to participate in the financial and operating decisions of the associate.

Gallos Technologies Limited (Registered number: 13610180)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


2. Accounting policies - continued

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

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.

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 12 (2023 - 7 ) .

4. Intangible fixed assets
Computer
software
£
Cost
At 1 October 2023 227,700
Additions 744,238
At 30 September 2024 971,938
Net book value
At 30 September 2024 971,938
At 30 September 2023 227,700

Gallos Technologies Limited (Registered number: 13610180)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


5. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
Cost
At 1 October 2023 19,710 17,291 19,561 56,562
Additions 2,089 6,382 10,144 18,615
At 30 September 2024 21,799 23,673 29,705 75,177
Depreciation
At 1 October 2023 1,379 663 1,127 3,169
Charge for year 7,033 6,539 8,494 22,066
At 30 September 2024 8,412 7,202 9,621 25,235
Net book value
At 30 September 2024 13,387 16,471 20,084 49,942
At 30 September 2023 18,331 16,628 18,434 53,393

6. Fixed asset investments
Shares in
group Unlisted
undertakings investments Totals
£ £ £
Cost
At 1 October 2023 85 780,000 780,085
Additions - 1,784,556 1,784,556
At 30 September 2024 85 2,564,556 2,564,641
Net book value
At 30 September 2024 85 2,564,556 2,564,641
At 30 September 2023 85 780,000 780,085

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Gallos Technologies Subsidiary 1 Limited
Registered office: 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ
Nature of business: IT consultancy activities
%
Class of shares: holding
Ordinary shares 100.00

Gallos Technologies Subsidiary 2 Limited
Registered office: 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ
Nature of business: IT consultancy activities
%
Class of shares: holding
Ordinary shares 100.00

Gallos Technologies Limited (Registered number: 13610180)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


6. Fixed asset investments - continued

Gallos Technologies Subsidiary 3 Limited
Registered office: 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ
Nature of business: IT consultancy activities
%
Class of shares: holding
Ordinary shares 100.00

Gallos Technologies Subsidiary 4 Limited
Registered office: 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ
Nature of business: IT consultancy activities
%
Class of shares: holding
Ordinary shares 100.00

Gallos Technologies US Inc (USA)
Registered office: USA (Delaware)
Nature of business: IT consultancy activities
%
Class of shares: holding
Ordinary shares 100.00

Joint venture

Gallos Sabre LLP
Registered office: 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ
Nature of business: Special purpose vehicle
%
Class of shares: holding
Ordinary 50.00

Associated companies

The Portfolio Collective Ltd
Registered office: United Kingdom
Nature of business: Activities of business & employees membership
%
Class of shares: holding
Ordinary 1.00

Alchem Technologies Ltd
Registered office: United Kingdom
Nature of business: Information technology consultancy
%
Class of shares: holding
Ordinary 20.00

ContraForce Group Inc
Registered office: USA (Texas)
Nature of business: IT security services
%
Class of shares: holding
Ordinary 4.91

7. Debtors: amounts falling due within one year
2024 2023
£ £
Amounts owed by group undertakings 324,178 44,337
Other debtors 330,183 314,909
654,361 359,246

Gallos Technologies Limited (Registered number: 13610180)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 149,172 81,378
Taxation and social security - 4,124
Other creditors 10,031,004 2,355,962
10,180,176 2,441,464

Other creditors includes amount of £10,000,000 subscribed to mandatory convertible loan notes. The loan notes are non-interest bearing.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
21,171 Ordinary shares 0.01 212 212

10. Reserves
Retained Share
earnings premium Totals
£ £ £

At 1 October 2023 (3,423,889 ) 5,420,938 1,997,049
Deficit for the year (3,930,171 ) (3,930,171 )
At 30 September 2024 (7,354,060 ) 5,420,938 (1,933,122 )

11. Post balance sheet events

The company granted share options following conversion of mandatory convertible loan notes on 8 October 2024. The company issued 12,233 ordinary shares of £0.01 per share with an exercise price of £816.81 per share.

None of these options are exercisable as of 30 September 2024.