Registration number: 07637367

Gallowglass Training Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Gallowglass Training Limited

Company Information

Director

Mr J P Grecian

Registered office

Unit D2 Sundance Court Kansas Avenue Salford Manchester M50 2GL

Accountants

Franklin, Chartered Accountants 320 Garratt Lane London SW18 4EJ

Gallowglass Training Limited

(Registration number: 07637367)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Current assets
Debtors	5	23,587	23,047
Cash at bank and in hand		7,224	9,634
		30,811	32,681
Creditors: Amounts falling due within one year	6	(70,807)	(63,578)
Net liabilities		(39,996)	(30,897)
Capital and reserves
Called up share capital	7	100	100
Retained earnings		(40,096)	(30,997)
Shareholders' deficit		(39,996)	(30,897)

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 September 2025
 

......................................... Mr J P Grecian Director

Gallowglass Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit D2 Sundance Court
Kansas Avenue
Salford
Manchester
M50 2GL

These financial statements were authorised for issue by the director on 18 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Gallowglass Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Asset class	Depreciation method and rate
Plant and machinery	33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Gallowglass Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Financial instruments

Classification
The Company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments.

 Recognition and measurement
Financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.

 Impairment
Financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

Gallowglass Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	4,686	4,686
At 31 December 2024	4,686	4,686
Depreciation
At 1 January 2024	4,686	4,686
At 31 December 2024	4,686	4,686
Carrying amount
At 31 December 2024	-	-

5

Debtors

Current	Note	2024 £	2023 £
Trade debtors		3,764	3,489
Amounts owed by related parties	8	19,000	18,999
Prepayments		289	559
Other debtors		534	-
		23,587	23,047

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		7,014	2,851
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8	63,793	60,242
Taxation and social security		-	485
		70,807	63,578

Gallowglass Training Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

8	Related party transactions

The company has taken advantage of the exemption available whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiaries.

Included in debtors is a balance of £19,000 (2023: £19,000) owned by a member of the same group.

Included within creditors is a balance of £55,293 (2023: £51,742) and £8,500 (2023: £8,500) owed to different members of the same group.

9	Parent and ultimate parent undertaking

The company's immediate parent is Gallowglass Consulting LLP, a limited liability partnership, by virtue of its majority shareholding in the company, incorporated in England and Wales.

 The ultimate parent is Gallowglass Group Limited, incorporated in England and Wales.

  These financial statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ

 The ultimate controlling party is J P Grecian, by virtue of his majority shareholding in Gallowglass Group Limited..