IRIS Accounts Production v25.1.3.33 SC246833 Board of Directors Board of Directors 1.9.23 31.8.24 31.8.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2468332023-08-31SC2468332024-08-31SC2468332023-09-012024-08-31SC2468332022-08-31SC2468332022-09-012023-08-31SC2468332023-08-31SC246833ns15:Scotland2023-09-012024-08-31SC246833ns14:PoundSterling2023-09-012024-08-31SC246833ns10:Director12023-09-012024-08-31SC246833ns10:Director22023-09-012024-08-31SC246833ns10:PrivateLimitedCompanyLtd2023-09-012024-08-31SC246833ns10:SmallEntities2023-09-012024-08-31SC246833ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-31SC246833ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-31SC246833ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-31SC246833ns10:FullAccounts2023-09-012024-08-31SC246833ns10:CompanySecretary12023-09-012024-08-31SC246833ns10:RegisteredOffice2023-09-012024-08-31SC246833ns5:CurrentFinancialInstruments2024-08-31SC246833ns5:CurrentFinancialInstruments2023-08-31SC246833ns5:Non-currentFinancialInstruments2024-08-31SC246833ns5:Non-currentFinancialInstruments2023-08-31SC246833ns5:ShareCapital2024-08-31SC246833ns5:ShareCapital2023-08-31SC246833ns5:RetainedEarningsAccumulatedLosses2024-08-31SC246833ns5:RetainedEarningsAccumulatedLosses2023-08-31SC246833ns5:LongLeaseholdAssetsns5:LandBuildings2023-08-31SC246833ns5:PlantMachinery2023-08-31SC246833ns5:LongLeaseholdAssetsns5:LandBuildings2023-09-012024-08-31SC246833ns5:PlantMachinery2023-09-012024-08-31SC246833ns5:LongLeaseholdAssetsns5:LandBuildings2024-08-31SC246833ns5:PlantMachinery2024-08-31SC246833ns5:LongLeaseholdAssetsns5:LandBuildings2023-08-31SC246833ns5:PlantMachinery2023-08-31
REGISTERED NUMBER: SC246833 (Scotland)















GALLETLY & TUBBS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024






GALLETLY & TUBBS LIMITED (REGISTERED NUMBER: SC246833)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GALLETLY & TUBBS LIMITED

COMPANY INFORMATION
For The Year Ended 31 August 2024







DIRECTORS: J Blair
M F Galletly





SECRETARY: M F Galletly





REGISTERED OFFICE: 439 Great Western Road
Glasgow
G4 9JA





REGISTERED NUMBER: SC246833 (Scotland)





ACCOUNTANTS: Benham Conway & Co
16 Royal Cresent
Glasgow
G3 7SL

GALLETLY & TUBBS LIMITED (REGISTERED NUMBER: SC246833)

BALANCE SHEET
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,732 693

CURRENT ASSETS
Stocks 83,500 82,000
Debtors 5 2,373 2,702
Cash at bank 83,544 81,955
169,417 166,657
CREDITORS
Amounts falling due within one year 6 142,235 83,022
NET CURRENT ASSETS 27,182 83,635
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,914

84,328

CREDITORS
Amounts falling due after more than one
year

7

8,333

18,333
NET ASSETS 21,581 65,995

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 21,579 65,993
SHAREHOLDERS' FUNDS 21,581 65,995

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

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

GALLETLY & TUBBS LIMITED (REGISTERED NUMBER: SC246833)

BALANCE SHEET - continued
31 August 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 27 May 2025 and were signed on its behalf by:




J Blair - Director



M F Galletly - Director


GALLETLY & TUBBS LIMITED (REGISTERED NUMBER: SC246833)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 August 2024


1. STATUTORY INFORMATION

Galletly & Tubbs Limited is a private company, limited by shares , registered in Scotland. 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 goods sold in the year, net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life:

Improvements to property - 10% on cost
Plant and machinery - 33% on cost and 20% on cost

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

Financial instruments
Basic financial instruments, including trade and other debtors, trade creditors and other creditors, bank loans and other loans that are classified as debt, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
Taxation for the year comprises current 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 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.

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 6 (2023 - 6 ) .

GALLETLY & TUBBS LIMITED (REGISTERED NUMBER: SC246833)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 August 2024


4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 September 2023 78,610 19,957 98,567
Additions - 3,028 3,028
At 31 August 2024 78,610 22,985 101,595
DEPRECIATION
At 1 September 2023 78,610 19,264 97,874
Charge for year - 989 989
At 31 August 2024 78,610 20,253 98,863
NET BOOK VALUE
At 31 August 2024 - 2,732 2,732
At 31 August 2023 - 693 693

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 2,373 2,702

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 2,430 3,103
Taxation and social security 11,631 14,882
Other creditors 118,174 55,037
142,235 83,022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 8,333 18,333

8. OTHER FINANCIAL COMMITMENTS

At 31 August 2024 the company was committed to making total payments under non-cancellable operating leases of £22,928 (2023, £36,030).

9. RELATED PARTY DISCLOSURES

At 31 August 2024 the directors had provided the company with interest free loans of £108,553 (2023, £50,348). There are no fixed repayment terms for these loans, which are included in other creditors.