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REGISTERED NUMBER: 09117574 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

GALVIN ENTERPRISES LIMITED

GALVIN ENTERPRISES LIMITED (REGISTERED NUMBER: 09117574)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GALVIN ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mrs A E I Galvin
P T Galvin





REGISTERED OFFICE: Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD





REGISTERED NUMBER: 09117574 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

GALVIN ENTERPRISES LIMITED (REGISTERED NUMBER: 09117574)

BALANCE SHEET
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 45,142 43,106
45,142 43,106

CURRENT ASSETS
Stocks 1,200 1,100
Debtors 6 582,974 565,718
Cash at bank and in hand 269,896 281,421
854,070 848,239
CREDITORS
Amounts falling due within one year 7 93,409 156,519
NET CURRENT ASSETS 760,661 691,720
TOTAL ASSETS LESS CURRENT
LIABILITIES

805,803

734,826

CREDITORS
Amounts falling due after more than one
year

8

(28,431

)

(34,314

)

PROVISIONS FOR LIABILITIES (10,884 ) (10,777 )
NET ASSETS 766,488 689,735

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 766,388 689,635
SHAREHOLDERS' FUNDS 766,488 689,735

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

GALVIN ENTERPRISES LIMITED (REGISTERED NUMBER: 09117574)

BALANCE SHEET - continued
31 JULY 2024


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 25 April 2025 and were signed on its behalf by:




Mrs A E I Galvin - Director



P T Galvin - Director


GALVIN ENTERPRISES LIMITED (REGISTERED NUMBER: 09117574)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Galvin Enterprises 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.

Turnover
Turnover represents net sales of food and drink, excluding value added tax. Turnover is recognised at the point of sale in the restaurant.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, was amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 10 years
Fixtures and fittings - 15% on reducing balance

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

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.

GALVIN ENTERPRISES LIMITED (REGISTERED NUMBER: 09117574)

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

2. ACCOUNTING POLICIES - continued

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 37 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 65,000
AMORTISATION
At 1 August 2023
and 31 July 2024 65,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 August 2023 44,152 93,901 138,053
Additions - 13,638 13,638
At 31 July 2024 44,152 107,539 151,691
DEPRECIATION
At 1 August 2023 35,322 59,625 94,947
Charge for year 4,415 7,187 11,602
At 31 July 2024 39,737 66,812 106,549
NET BOOK VALUE
At 31 July 2024 4,415 40,727 45,142
At 31 July 2023 8,830 34,276 43,106

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Loan to associated company 582,052 564,970
Prepayments 922 748
582,974 565,718

GALVIN ENTERPRISES LIMITED (REGISTERED NUMBER: 09117574)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 5,882 5,882
Trade creditors 1,638 10,956
Corporation tax 35,804 52,057
Social security and other taxes 45,097 63,316
Other creditors 2,212 22,089
Directors' current accounts 21 14
Accrued expenses 2,755 2,205
93,409 156,519

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans - 2-5 years 28,431 34,314

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 34,313 40,196

10. RELATED PARTY DISCLOSURES

The director Mr Patrick Galvin rents the first floor flat from the company at market value for £875 pcm.

11. ULTIMATE CONTROLLING PARTY

During the year, the company was controlled jointly by Mr & Mrs Galvin, by virtue of the fact that they own 100% of the company's issued ordinary share capital.