Gallant Richardson Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11811429

Gallant Richardson Limited

Filleted Unaudited Financial Statements

31 December 2024

Gallant Richardson Limited

Statement of Financial Position

31 December 2024

	31 Dec 24		30 Apr 24
Note	£	£	£	£

Fixed assets

Intangible assets	6	50,250	83,750
Tangible assets	7	1,924	2,011
		--------	--------
		52,174	85,761

Current assets

Debtors	8	143,243	18,764
Cash at bank and in hand		2,182,804	301,123
		------------	---------
		2,326,047	319,887

Creditors: amounts falling due within one year	9	2,100,717		147,404
		------------		---------
Net current assets			225,330		172,483
			---------		---------
Total assets less current liabilities			277,504		258,244

Creditors: amounts falling due after more than one year	10		4,533		11,411

Provisions

Taxation including deferred tax	366	503
	---------	---------
Net assets	272,605	246,330
	---------	---------

Capital and reserves

Called up share capital	11	192,000	192,000
Profit and loss account		80,605	54,330
		---------	---------
Shareholders funds		272,605	246,330
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period 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 financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Gallant Richardson Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mr I Drozdov
Director

Company registration number: 11811429

Gallant Richardson Limited

Notes to the Financial Statements

Period from 1 May 2024 to 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 86-90 Paul Street, London, EC2A 4NE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	15% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	25% straight line

4. Employee numbers

The average number of persons employed by the company during the period amounted to 10 (2024: 14 ).

5. Tax on profit

Major components of tax expense

	Period from
	1 May 24 to	Year to
	31 Dec 24	30 Apr 24
	£	£

Current tax:

UK current tax expense	11,009	33,860

Deferred tax:

Origination and reversal of timing differences	( 137)	( 285)
	--------	--------
Tax on profit	10,872	33,575
	--------	--------

6. Intangible assets

	Goodwill
	£
Cost
At 1 May 2024 and 31 December 2024	335,000
	---------
Amortisation
At 1 May 2024	251,250
Charge for the period	33,500
	---------
At 31 December 2024	284,750
	---------
Carrying amount
At 31 December 2024	50,250
	---------
At 30 April 2024	83,750
	---------

7. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 May 2024	9,919
Additions	583
	--------
At 31 December 2024	10,502
	--------
Depreciation
At 1 May 2024	7,908
Charge for the period	670
	--------
At 31 December 2024	8,578
	--------
Carrying amount
At 31 December 2024	1,924
	--------
At 30 April 2024	2,011
	--------

8. Debtors

	31 Dec 24	30 Apr 24
	£	£
Trade debtors	8,710	483
Amounts owed by group undertakings	120,000	–
Prepayments and accrued income	14,533	18,281
	---------	--------
	143,243	18,764
	---------	--------

9. Creditors: amounts falling due within one year

	31 Dec 24	30 Apr 24
	£	£
Bank loans and overdrafts	10,273	10,188
Trade creditors	31,422	43,917
Amounts owed to group undertakings	2,000,000	–
Accruals and deferred income	20,943	4,371
Corporation tax	11,009	33,860
Social security and other taxes	25,763	37,428
Director loan accounts	–	16,170
Other creditors	1,307	1,470
	------------	---------
	2,100,717	147,404
	------------	---------

10. Creditors: amounts falling due after more than one year

	31 Dec 24	30 Apr 24
	£	£
Bank loans and overdrafts	4,533	11,411
	-------	--------

11. Called up share capital

Issued, called up and fully paid

	31 Dec 24		30 Apr 24
	No.	£	No.	£
Ordinary shares of £ 1 each	192,000	192,000	192,000	192,000
	---------	---------	---------	---------

12. Director's advances, credits and guarantees

During the year there were no director's advances, credits and guarantees.

13. Related party transactions

During the period the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	31 Dec 24	30 Apr 24	31 Dec 24	30 Apr 24
	£	£	£	£
Prospire Operations Limited	–	–	120,000	–
Prospire Technologies Limited	–	–	( 2,000,000)	–
	----	----	------------	----