GALE BUILDING SUPPLIES LIMITED

Company Registration Number:
01700500 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2024

Period of accounts

Start date: 01 April 2023

End date: 30 June 2024

GALE BUILDING SUPPLIES LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Notes

GALE BUILDING SUPPLIES LIMITED

Balance sheet

As at 30 June 2024


Notes
15 months to 30 June 2024
2023


£
£
Fixed assets
Tangible assets: 3 463,003 481,250
Total fixed assets: 463,003 481,250
Current assets
Stocks: 198,950 246,850
Debtors:   159,920 169,885
Cash at bank and in hand: 44,120 28,620
Total current assets: 402,990 445,355
Creditors: amounts falling due within one year: 4 (108,800) (105,856)
Net current assets (liabilities): 294,190 339,499
Total assets less current liabilities: 757,193 820,749
Creditors: amounts falling due after more than one year: 5 (101,754) (130,258)
Provision for liabilities: (950) (950)
Total net assets (liabilities): 654,489 689,541
Capital and reserves
Called up share capital: 100 100
Other reserves: 552,448 552,448
Profit and loss account: 101,941 136,993
Shareholders funds: 654,489 689,541

The notes form part of these financial statements

GALE BUILDING SUPPLIES LIMITED

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 June 2026
and signed on behalf of the board by:

Name: R Feely
Status: Director

The notes form part of these financial statements

GALE BUILDING SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the fair value of goods and services net of Value Added Tax, rebates and discounts. Sale of goods are recognised when the company has delivered goods to the customer.

Tangible fixed assets and depreciation policy

All assets are initially recorded at cost. Depreciation is calculated so to write off the cost or revaluation of an asset, less its estimated residual value, over the useful life economic life of the asset as follows. Short leasehold property straight line over 40 years. Plant & machinery 20% reducing balance. Fixtures fittings and equipment 15 / 25% reducing balance. Motor vehicles 25% reducing balance.

Valuation and information policy

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies

Deferred taxation. Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of an underlying timing differences can be deducted. Deferred tax measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted and substantively acted at the balance sheet date.

GALE BUILDING SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

2. Employees

15 months to 30 June 2024 2023
Average number of employees during the period 6 8

GALE BUILDING SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 976,226
At 30 June 2024 976,226
Depreciation
At 01 April 2023 494,976
Charge for year 18,247
At 30 June 2024 513,223
Net book value
At 30 June 2024 463,003
At 31 March 2023 481,250

GALE BUILDING SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Creditors: amounts falling due within one year note

The following liabilities disclosed under creditors falling due within one year are secured by the company. Secured Loans of £23,976

GALE BUILDING SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Creditors: amounts falling due after more than one year note

The following liabilities disclosed under creditors falling due after more than one year are secured by the company. Secured Loans of £77,754