Company registration number 02269764 (England and Wales)
GALLAGHER BLOODSTOCK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GALLAGHER BLOODSTOCK LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
GALLAGHER BLOODSTOCK LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
774,416
758,121
Investments
4
100
100
774,516
758,221
Current assets
Debtors
5
17,391
40,562
Cash at bank and in hand
118,970
113,751
136,361
154,313
Creditors: amounts falling due within one year
6
(201,722)
(879,389)
Net current liabilities
(65,361)
(725,076)
Net assets
709,155
33,145
Capital and reserves
Called up share capital
740,145
100
Profit and loss reserves
(30,990)
33,045
Total equity
709,155
33,145

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 April 2025 and are signed on its behalf by:
Mr P Gallagher
Director
Company registration number 02269764 (England and Wales)
GALLAGHER BLOODSTOCK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2022
100
149,427
149,527
Year ended 30 September 2023:
Loss and total comprehensive income
-
(116,382)
(116,382)
Balance at 30 September 2023
100
33,045
33,145
Year ended 30 September 2024:
Loss and total comprehensive income
-
(64,035)
(64,035)
Issue of share capital
740,045
-
740,045
Balance at 30 September 2024
740,145
(30,990)
709,155
GALLAGHER BLOODSTOCK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Gallagher Bloodstock Limited is a private company limited by shares incorporated in England and Wales. The registered office is Leitrim House, Little Preston, Coldharbour Lane, Aylesford, Maidstone, Kent, ME20 7NS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The company is dependant upon the continued support from related parties and companies under common control, via the provision of interest free loans. An undertaking has been given that this facility, will not be sought until such time that retained profits have returned to a surplus.

1.3
Turnover

Turnover represents amounts receivable for horse racing, training and breeding for the purposes of promoting the Gallagher name.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
10% straight line
Plant and machinery
20% straight line
Race horses
No depreciation is charged

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

GALLAGHER BLOODSTOCK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments

Interests in subsidiaries are initially measured at 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 or reversals of 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 its activities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2
Employees

The company has no employees during the financial year. All labour was supplied by Gallagher Resources Limited.

2024
2023
Number
Number
Total
-
0
-
0
GALLAGHER BLOODSTOCK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Other assets
Total
£
£
£
£
Cost
At 1 October 2023
520,740
137,843
750,101
1,408,684
Additions
-
0
32,000
105,589
137,589
Disposals
-
0
-
0
(115,651)
(115,651)
At 30 September 2024
520,740
169,843
740,039
1,430,622
Depreciation and impairment
At 1 October 2023
520,740
129,823
-
0
650,563
Depreciation charged in the year
-
0
5,643
-
0
5,643
At 30 September 2024
520,740
135,466
-
0
656,206
Carrying amount
At 30 September 2024
-
0
34,377
740,039
774,416
At 30 September 2023
-
0
8,020
750,101
758,121
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,520
-
0
Other debtors
14,871
40,562
17,391
40,562

The amounts owed by related parties and companies under common control (included in other debtors) are interest free, with no security and no fixed repayment terms.

GALLAGHER BLOODSTOCK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
24,124
19,881
Taxation and social security
-
0
12,671
Other creditors
177,598
846,837
201,722
879,389

The amounts owed to related parties and companies under common control (included in other creditors) are interest free, with no security and no fixed repayment terms.

2024-09-302023-10-01falsefalsefalse28 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr P GallagherMr I PerkinsMs L GallagherMr S GallagherMr I Perkins022697642023-10-012024-09-30022697642024-09-30022697642023-09-3002269764core:LandBuildings2024-09-3002269764core:OtherPropertyPlantEquipment2024-09-3002269764core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-09-3002269764core:LandBuildings2023-09-3002269764core:OtherPropertyPlantEquipment2023-09-3002269764core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-09-3002269764core:CurrentFinancialInstrumentscore:WithinOneYear2024-09-3002269764core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3002269764core:CurrentFinancialInstruments2024-09-3002269764core:CurrentFinancialInstruments2023-09-3002269764core:ShareCapital2024-09-3002269764core:ShareCapital2023-09-3002269764core:RetainedEarningsAccumulatedLosses2024-09-3002269764core:RetainedEarningsAccumulatedLosses2023-09-3002269764core:ShareCapital2022-09-3002269764core:RetainedEarningsAccumulatedLosses2022-09-3002269764bus:Director12023-10-012024-09-3002269764core:RetainedEarningsAccumulatedLosses2022-10-012023-09-30022697642022-10-012023-09-3002269764core:RetainedEarningsAccumulatedLosses2023-10-012024-09-3002269764core:ShareCapital2023-10-012024-09-3002269764core:LandBuildingscore:OwnedOrFreeholdAssets2023-10-012024-09-3002269764core:PlantMachinery2023-10-012024-09-3002269764core:MotorVehicles2023-10-012024-09-3002269764core:LandBuildings2023-09-3002269764core:OtherPropertyPlantEquipment2023-09-3002269764core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-09-30022697642023-09-3002269764core:LandBuildings2023-10-012024-09-3002269764core:OtherPropertyPlantEquipment2023-10-012024-09-3002269764core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-10-012024-09-3002269764core:WithinOneYear2024-09-3002269764core:WithinOneYear2023-09-3002269764bus:PrivateLimitedCompanyLtd2023-10-012024-09-3002269764bus:FRS1022023-10-012024-09-3002269764bus:AuditExemptWithAccountantsReport2023-10-012024-09-3002269764bus:Director22023-10-012024-09-3002269764bus:Director32023-10-012024-09-3002269764bus:Director42023-10-012024-09-3002269764bus:CompanySecretary12023-10-012024-09-3002269764bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3002269764bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP