Registration number:
Gallowglass Group Limited
for the Year Ended 31 December 2024
Gallowglass Group Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Accountants' Report |
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Consolidated Profit and Loss Account |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Gallowglass Group Limited
Company Information
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Directors |
Mr John Paul Grecian Ms Christine Ann Parry Jones |
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Registered office |
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Accountants |
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Gallowglass Group Limited
Strategic Report for the Year Ended 31 December 2024
The directors present their strategic report for the year ended 31 December 2024.
Principal activity
The principal activity of the group is holding company.
Fair review of the business
The Group experienced a stable performance across its core business areas in 2024, despite macroeconomic headwinds. Activity within the labour division was steady, although growth was tempered by political uncertainty in the lead-up to the general election and subsequent budget announcements. While government assurances suggested a rebound in business sentiment, the broader economic environment remained subdued, delaying the anticipated uplift in commercial confidence and investment.
Our television and film work continued its upward trajectory, securing new contracts and achieving preferred supplier status with a prominent London venue—an encouraging development that reflects our growing reputation in the sector. The health and safety business delivered solid results across the UK and Europe, maintaining consistent demand and client engagement. However, performance in the Middle East was comparatively softer, reflecting regional market dynamics.
Looking ahead to 2025, we remain cautiously optimistic. The Group is well-positioned to capitalise on emerging opportunities across all divisions, supported by a resilient operational model and a strong commitment to service excellence.
Approved and authorised by the
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Gallowglass Group Limited
Directors' Report for the Year Ended 31 December 2024
The directors present their report and the for the year ended 31 December 2024.
Directors of the group
The directors who held office during the year were as follows:
Approved and authorised by the
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Gallowglass Group Limited
Statement of Directors' Responsibilities
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Gallowglass Group Limited
for the Year Ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gallowglass Group Limited for the year ended 31 December 2024 as set out on pages from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Gallowglass Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Gallowglass Group Limited and state those matters that we have agreed to state to the Board of Directors of Gallowglass Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gallowglass Group Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Gallowglass Group Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Gallowglass Group Limited. You consider that Gallowglass Group Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Gallowglass Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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London
SW18 4EJ
Gallowglass Group Limited
Consolidated Profit and Loss Account for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating (loss)/profit |
( |
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Other interest receivable and similar income |
- |
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Interest payable and similar expenses |
( |
( |
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(40,883) |
(86,606) |
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(Loss)/profit before tax |
( |
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Tax on (loss)/profit |
( |
( |
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(Loss)/profit for the financial year |
( |
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Profit/(loss) attributable to: |
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Owners of the company |
( |
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Minority interests |
- |
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( |
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The group has no recognised gains or losses for the year other than the results above.
Gallowglass Group Limited
(Registration number: 08123565)
Consolidated Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Tangible assets |
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Investments |
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- |
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Other financial assets |
11,098 |
- |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
19,650 |
19,650 |
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Capital redemption reserve |
4,700 |
4,700 |
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Retained earnings |
1,657,149 |
1,792,394 |
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Equity attributable to owners of the company |
1,681,499 |
1,816,744 |
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minority interests |
68,374 |
68,374 |
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Shareholders' funds |
1,749,873 |
1,885,118 |
Approved and authorised by the
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Gallowglass Group Limited
(Registration number: 08123565)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
19,650 |
19,650 |
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Capital redemption reserve |
700 |
700 |
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Retained earnings |
799,382 |
846,336 |
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Shareholders' funds |
819,732 |
866,686 |
The company made a loss after tax for the financial year of £46,954 (2023 - profit of £143,872).
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.
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to small groups.
Directors' responsibilities:
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The directors acknowledge their 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
Gallowglass Group Limited
(Registration number: 08123565)
Balance Sheet as at 31 December 2024
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Gallowglass Group Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 December 2024
Equity attributable to the parent company
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 January 2024 |
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Loss for the year |
- |
- |
( |
( |
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At 31 December 2024 |
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Non-controlling interests - Equity |
Total equity |
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At 1 January 2024 |
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Loss for the year |
- |
( |
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At 31 December 2024 |
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Gallowglass Group Limited
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 January 2024 |
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Loss for the year |
- |
- |
( |
( |
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At 31 December 2024 |
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 January 2023 |
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Profit for the year |
- |
- |
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At 31 December 2023 |
19,650 |
700 |
846,336 |
866,686 |
Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies.
The Group's functional and presentational currency is GBP
Summary of disclosure exemptions
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own income statement in these financial statements..
Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 December 2024.
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Judgements in applying accounting policies and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are recognised to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the statement of comprehensive income in the period in which the estimates revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods
Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable for goods and services
provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal account received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials as a proportion of costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.
Foreign currency transactions and balances
dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.
Tax
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income.
Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
• Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any
accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount
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:
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Asset class |
Depreciation method and rate |
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Plant & machinery |
5-10 years straight line |
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Motor vehicles |
25% reducing balance |
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Fixtures and fittings |
5 years straight line |
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Computer equipment |
3-5 years straight line |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment
Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with 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 group will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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 group 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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Provisions
Provisions are made where an event has taken place that gives the Group a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Group becomes aware of the obligation, and are measured at the best estimate at the Statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.
Leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
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.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Defined contribution pension obligation
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension
plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
Financial instruments
Classification
Recognition and measurement
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
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.
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Turnover |
The analysis of the group's turnover for the year from continuing operations is as follows:
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2024 |
2023 |
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Sale of goods |
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Other revenue |
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Other operating income |
The analysis of the group's other operating income for the year is as follows:
Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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2024 |
2023 |
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Other gains and losses |
The analysis of the group's other gains and losses for the year is as follows:
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2024 |
2023 |
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Gain on disposal of tangible assets |
- |
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Operating (loss)/profit |
Arrived at after charging/(crediting)
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2024 |
2023 |
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Depreciation expense |
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Profit on disposal of property, plant and equipment |
- |
( |
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Other interest receivable and similar income |
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2024 |
2023 |
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Other finance income |
- |
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Interest payable and similar expenses |
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2024 |
2023 |
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Interest on bank overdrafts and borrowings |
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Interest expense on other finance liabilities |
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Foreign exchange gains |
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
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2024 |
2023 |
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Wages and salaries |
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Social security costs |
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Other short-term employee benefits |
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Pension costs, defined contribution scheme |
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Other employee expense |
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Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
The average number of persons employed by the company (including directors) during the year, was
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Directors' remuneration |
The directors' remuneration for the year was as follows:
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2024 |
2023 |
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Remuneration |
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Taxation |
Tax charged/(credited) in the consolidated profit and loss account
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2024 |
2023 |
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Current taxation |
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UK corporation tax |
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Tangible assets |
Group
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Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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- |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Investments |
Company
Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 January 2024 |
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Provision |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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Sw19 Studios 62 Weir Road, London, England, SW19 8UG |
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Sw19 Studios 62 Weir Road, London, England, SW19 8UG |
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Sw19 Studios 62 Weir Road, London, England, SW19 8UG |
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Sw19 Studios 62 Weir Road, London, England, SW19 8UG |
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Unit D2 Sundance Court, Kansas Avenue, Salford, Manchester, M50 2GL |
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* these are subsidiaries of Gallowglass Consulting LLP
** these are subsidiaries of Gallowglass Crewing Limited
Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Stocks |
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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Other inventories |
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- |
- |
Group
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Debtors |
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Group |
Company |
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Current |
Note |
2024 |
2023 |
2024 |
2023 |
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Trade debtors |
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- |
- |
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Amounts owed by related parties |
|
( |
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|
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Other debtors |
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Prepayments |
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Deferred tax assets |
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Income tax asset |
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Cash and cash equivalents |
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Group |
Company |
|||
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2024 |
2023 |
2024 |
2023 |
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Cash at bank |
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Creditors |
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Group |
Company |
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Note |
2024 |
2023 |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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|
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Trade creditors |
( |
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( |
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Amounts due to related parties |
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- |
- |
- |
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Social security and other taxes |
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Other payables |
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Deferred income |
- |
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- |
- |
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Due after one year |
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Loans and borrowings |
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Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
In November 2018 Gallowglass Limited entered into an agreement with Lloyds Bank Commercial Finance Limited. The invoice financing facility is secured by a first legal charge over certain freehold and leasehold properties owned by Gallowglass Limited, together with fixed and floating charges over the trade and assets of the company.
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Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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13,650 |
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13,650 |
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6,000 |
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6,000 |
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Loans and borrowings |
Non-current loans and borrowings
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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Bank borrowings |
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Current loans and borrowings
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Group |
Company |
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2024 |
2023 |
2024 |
2023 |
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Bank borrowings |
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Gallowglass Group Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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Related party transactions |
Group
The Group has taken advantage of the exemption to disclose related party transactions with entities that are wholly owned within the group.
Included within debtors is an amount of £296,582 (2023: £288,555) owed by J P Grecian, a director of the Group.
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Parent and ultimate parent undertaking |
The ultimate controlling party is