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Registration number: 12013219

Galliano's Latin Notes Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 May 2025

Galliano's Latin Notes Limited

Contents

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

Galliano's Latin Notes Limited

Company Information

Directors | V Galliano H R Galliano

Registered office | Brooklyn House, The High St. East Meon Petersfield Hampshire GU32 1PX

Accountants | Tax Innovations Limited Innovations House 19 Staple Gardens Winchester Hampshire SO23 8SR

Galliano's Latin Notes Limited

(Registration number: 12013219)
Balance Sheet as at 31 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 802 | -
Current assets |  |  |
Debtors | 5 | 416 | 1,138
Cash at bank and in hand |  | 35,904 | 651
|  | 36,320 | 1,789
Creditors: Amounts falling due within one year | 6 | (33,882) | (1,500)
Net current assets |  | 2,438 | 289
Net assets |  | 3,240 | 289
Capital and reserves |  |  |
Called up share capital | 7 | 2 | 2
Retained earnings |  | 3,238 | 287
Shareholders' funds |  | 3,240 | 289

For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 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 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 October 2025 and signed on its behalf by:

......................................... V Galliano Director

Galliano's Latin Notes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1 | General information

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

The address of its registered office is:
Brooklyn House, The High St.
East Meon
Petersfield
Hampshire
GU32 1PX
United Kingdom

These financial statements were authorised for issue by the Board on 1 October 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Galliano's Latin Notes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 operates and generates taxable income.

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:

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.

Galliano's Latin Notes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
Additions | 849 | 849
At 31 May 2025 | 849 | 849
Depreciation
Charge for the year | 47 | 47
At 31 May 2025 | 47 | 47
Carrying amount
At 31 May 2025 | 802 | 802

Galliano's Latin Notes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

5 | Debtors

Current | 2025 £ | 2024 £
Other debtors | 416 | 1,138
| 416 | 1,138

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Taxation and social security | 32,632 | -
Accruals and deferred income | 1,250 | 1,500
| 33,882 | 1,500

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary A of £1 each | 1 | 1 | 1 | 1
Ordinary B of £1 each | 1 | 1 | 1 | 1
| 2 | 2 | 2 | 2

8 | Dividends

Interim dividends paid

|  | 2025 £ |  | 2024 £
Interim dividend of £36,900.00 (2024 - £Nil) per each Ordinary A |  | 36,900 |  | -
Interim dividend of £36,900.00 (2024 - £Nil) per each Ordinary B |  | 36,900 |  | -
|  | 73,800 |  | -

Galliano's Latin Notes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

9 | Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 9,510 | 11,280