Silverfin false false 31/12/2024 01/11/2023 31/12/2024 Mrs G Roberts 12/05/2017 Mr M Roberts 12/05/2017 02 May 2025 The principal activity of the company is consultancy activities and event planning & hosting.
The company ceased trading during the financial period.
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Company No: 10767314 (England and Wales)

GALLOPING UNICORNS LIMITED

Unaudited Financial Statements
For the financial period from 01 November 2023 to 31 December 2024
Pages for filing with the registrar

GALLOPING UNICORNS LIMITED

Unaudited Financial Statements

For the financial period from 01 November 2023 to 31 December 2024

Contents

GALLOPING UNICORNS LIMITED

BALANCE SHEET

As at 31 December 2024
GALLOPING UNICORNS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 31.12.2024 31.10.2023
£ £
Fixed assets
Tangible assets 3 0 753,875
0 753,875
Current assets
Debtors 4 100 3,589
Cash at bank and in hand 0 5,907
100 9,496
Creditors: amounts falling due within one year 5 0 ( 98,686)
Net current assets/(liabilities) 100 (89,190)
Total assets less current liabilities 100 664,685
Creditors: amounts falling due after more than one year 6 0 ( 13,108)
Provision for liabilities 0 ( 24,100)
Net assets 100 627,477
Capital and reserves
Called-up share capital 7 100 100
Share premium account 0 599,990
Profit and loss account 0 27,387
Total shareholders' funds 100 627,477

For the financial period ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Galloping Unicorns Limited (registered number: 10767314) were approved and authorised for issue by the Board of Directors on 02 May 2025. They were signed on its behalf by:

Mr M Roberts
Director
GALLOPING UNICORNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 November 2023 to 31 December 2024
GALLOPING UNICORNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 November 2023 to 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Galloping Unicorns Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors made the decision that the Company would cease trading and be wound up. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Reporting period length

Reporting period length is that of 14 months and differs from the comparative of 12 months, due to the ceasing of trade and being wound up in the current period.

Turnover

Turnover is stated net of VAT, returns, rebates and discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from events is recognised as they are completed.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
01.11.2023 to
31.12.2024
Year ended
31.10.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 2

3. Tangible assets

Land and buildings Plant and machinery Office equipment Total
£ £ £ £
Cost
At 01 November 2023 808,380 1,350 3,786 813,516
Disposals ( 808,380) ( 1,350) ( 3,786) ( 813,516)
At 31 December 2024 0 0 0 0
Accumulated depreciation
At 01 November 2023 55,707 1,009 2,925 59,641
Charge for the financial period 11,876 85 215 12,176
Disposals ( 67,583) ( 1,094) ( 3,140) ( 71,817)
At 31 December 2024 0 0 0 0
Net book value
At 31 December 2024 0 0 0 0
At 31 October 2023 752,673 341 861 753,875

Included within the net book value of land and buildings is £Nil (2023: £215,000) which relates to freehold land, that is not being depreciated.

4. Debtors

31.12.2024 31.10.2023
£ £
Prepayments 0 1,469
VAT recoverable 0 613
Corporation tax 0 1,387
Other debtors 100 120
100 3,589

5. Creditors: amounts falling due within one year

31.12.2024 31.10.2023
£ £
Bank loans 0 8,081
Trade creditors 0 4,767
Amounts owed to directors 0 82,838
Accruals 0 3,000
0 98,686

6. Creditors: amounts falling due after more than one year

31.12.2024 31.10.2023
£ £
Bank loans 0 13,108

7. Called-up share capital

31.12.2024 31.10.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's directors

31.12.2024 31.10.2023
£ £
Amounts owed to directors 0 82,838

The amounts payable to the directors are interest free and repayable on demand.