IRIS Accounts Production v25.1.3.33 SC081314 director 1.1.24 31.12.24 31.12.24 0 0 false true false false true false Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC081314 2023-12-31 SC081314 2024-12-31 SC081314 2024-01-01 2024-12-31 SC081314 2022-12-31 SC081314 2023-01-01 2023-12-31 SC081314 2023-12-31 SC081314 ns15:Scotland 2024-01-01 2024-12-31 SC081314 ns14:PoundSterling 2024-01-01 2024-12-31 SC081314 ns10:Director1 2024-01-01 2024-12-31 SC081314 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC081314 ns10:SmallEntities 2024-01-01 2024-12-31 SC081314 ns10:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC081314 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 SC081314 ns10:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC081314 ns10:FullAccounts 2024-01-01 2024-12-31 SC081314 ns10:OrdinaryShareClass1 2024-01-01 2024-12-31 SC081314 ns10:RegisteredOffice 2024-01-01 2024-12-31 SC081314 ns5:CurrentFinancialInstruments 2024-12-31 SC081314 ns5:CurrentFinancialInstruments 2023-12-31 SC081314 ns5:Non-currentFinancialInstruments 2024-12-31 SC081314 ns5:Non-currentFinancialInstruments 2023-12-31 SC081314 ns5:ShareCapital 2024-12-31 SC081314 ns5:ShareCapital 2023-12-31 SC081314 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 SC081314 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 SC081314 ns5:LandBuildings ns5:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC081314 ns5:LeaseholdImprovements 2024-01-01 2024-12-31 SC081314 ns5:FurnitureFittings 2024-01-01 2024-12-31 SC081314 ns5:LandBuildings 2023-12-31 SC081314 ns5:LeaseholdImprovements 2023-12-31 SC081314 ns5:FurnitureFittings 2023-12-31 SC081314 ns5:LandBuildings 2024-01-01 2024-12-31 SC081314 ns5:LandBuildings 2024-12-31 SC081314 ns5:LeaseholdImprovements 2024-12-31 SC081314 ns5:FurnitureFittings 2024-12-31 SC081314 ns5:LandBuildings 2023-12-31 SC081314 ns5:LeaseholdImprovements 2023-12-31 SC081314 ns5:FurnitureFittings 2023-12-31 SC081314 ns5:CostValuation 2023-12-31 SC081314 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 SC081314 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31 SC081314 ns10:OrdinaryShareClass1 2024-12-31

REGISTERED NUMBER: SC081314 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Gallowgate Market Limited

Gallowgate Market Limited (Registered number: SC081314)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Gallowgate Market Limited

Company Information

for the Year Ended 31 December 2024

| DIRECTOR: | R Rakhra

| REGISTERED OFFICE: | Unit 3, Morris Park

| 37 Rosyth Road

| Glasgow

| G5 0YD

| REGISTERED NUMBER: | SC081314 (Scotland)

| ACCOUNTANTS: | KPP Glasgow South Ltd

| Chartered Certified Accountants

| Unit 3 , 37 Rosyth Road

| Morris Park

| Glasgow

| G5 0YE

Gallowgate Market Limited (Registered number: SC081314)

Balance Sheet

31 December 2024

| 31.12.24 | 31.12.23 |

| Notes | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 390,840 |  | 391,620 |  |

Investments | 5 | 214,642 |  | 214,642 |  |

605,482 |  | 606,262 |  |

CURRENT ASSETS

Debtors | 6 | 50,608 |  | 50,608 |  |

Cash at bank | 376,506 |  | 350,116 |  |

427,114 |  | 400,724 |  |

CREDITORS

Amounts falling due within one year | 7 | 125,093 |  | 125,736 |  |

NET CURRENT ASSETS | 302,021 |  | 274,988 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 907,503 |  | 881,250 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 68,531 |  | 69,172 |  |

NET ASSETS | 838,972 |  | 812,078 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 100 |  | 100 |  |

Retained earnings | 838,872 |  | 811,978 |  |

SHAREHOLDERS' FUNDS | 838,972 |  | 812,078 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Gallowgate Market Limited (Registered number: SC081314)

Balance Sheet - continued

31 December 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 director and authorised for issue on 29 April 2025 and were signed by:

R Rakhra - Director

Gallowgate Market Limited (Registered number: SC081314)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Gallowgate Market 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Freehold property | - | not provided

| Improvements to property | - | 15% on reducing balance

| Fixtures and fittings | - | 15% on reducing balance

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2023 - NIL).

4. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures |

| Freehold |  | to |  | and |

| property |  | property |  | fittings |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2024

| and 31 December 2024 | 386,417 |  | 6,192 |  | 5,536 |  | 398,145 |  |

| DEPRECIATION

| At 1 January 2024 | - |  | 3,370 |  | 3,155 |  | 6,525 |  |

| Charge for year | - |  | 423 |  | 357 |  | 780 |  |

| At 31 December 2024 | - |  | 3,793 |  | 3,512 |  | 7,305 |  |

| NET BOOK VALUE

| At 31 December 2024 | 386,417 |  | 2,399 |  | 2,024 |  | 390,840 |  |

| At 31 December 2023 | 386,417 |  | 2,822 |  | 2,381 |  | 391,620 |  |

Gallowgate Market Limited (Registered number: SC081314)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

5. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 214,642 |  |

| NET BOOK VALUE

| At 31 December 2024 | 214,642 |  |

| At 31 December 2023 | 214,642 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Clyde Knitwear Limited | 40,000 |  | 40,000 |  |

| Associated company - VAT payment | 10,608 |  | 10,608 |  |

50,608 |  | 50,608 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Tax | 6,491 |  | 7,391 |  |

| VAT | 1,598 |  | 1,725 |  |

| Other creditors | 850 |  | 850 |  |

| Directors' current accounts | 112,803 |  | 112,266 |  |

| Accrued Expenses | 3,351 |  | 3,504 |  |

125,093 |  | 125,736 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Mortgage | 68,531 |  | 69,172 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Mortgage | 68,531 |  | 69,172 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.24 |  | 31.12.23

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |