Galloway Lodge Limited 28/01/2025 iXBRL

Company registration number: SC492080

Galloway Lodge Limited

Unaudited filleted financial statements

28 January 2025

Galloway Lodge Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Galloway Lodge Limited

Directors and other information


	Director	Mrs Fiona Hesketh


	Company number	SC492080


	Registered office	123 Irish Street
		Dumfries
		DG1 2PE


	Accountants	Carson and Trotter
		Chartered Accountants
		123 Irish Street
		Dumfries
		DG1 2PE

Galloway Lodge Limited

Report to the director on the preparation of the

unaudited statutory financial statements of Galloway Lodge Limited

Year ended 28th January 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Galloway Lodge Limited for the year ended 28th January 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Galloway Lodge 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 financial statements of Galloway Lodge Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Galloway Lodge Limited and its director as a body for our work or for this report.

It is your duty to ensure that Galloway Lodge Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Galloway Lodge Limited. You consider that Galloway Lodge 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 financial statements of Galloway Lodge 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 financial statements.

Carson and Trotter

Chartered Accountants

123 Irish Street

Dumfries

DG1 2PE

14th October 2026

Galloway Lodge Limited

Statement of financial position

28th January 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		7,500
Tangible assets	6	406,926		426,438
		_______		_______
			406,926		433,938

Current assets
Stocks		84,657		121,384
Debtors	7	75,762		76,952
Cash at bank and in hand		19,516		21,621
		_______		_______
		179,935		219,957
Creditors: amounts falling due
within one year	8	( 263,355)		( 278,171)
		_______		_______
Net current liabilities			( 83,420)		( 58,214)
			_______		_______
Total assets less current liabilities			323,506		375,724

Creditors: amounts falling due
after more than one year	9		( 246,233)		( 273,014)

Provisions for liabilities			( 17,326)		( 20,407)

			_______		_______
Net assets			59,947		82,303
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			59,847		82,203
			_______		_______
Shareholders funds			59,947		82,303
			_______		_______

For the year ending 28 January 2025 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 year in question in accordance with section 476;

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

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.

These financial statements were approved by the board of directors and authorised for issue on 14 October 2026 , and are signed on behalf of the board by:

Mrs Fiona Hesketh

Director

Company registration number: SC492080

Galloway Lodge Limited

Notes to the financial statements

Year ended 28th January 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 123 Irish Street, Dumfries, DG1 2PE.

2. Statement of compliance

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

Turnover

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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

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	-	10 %	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 are subsequently stated at cost less any accumulated depreciation and impairment losses.

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:


Land and Buildings	-	2 %	straight line
Plant and machinery	-	15 %	reducing balance
Motor vehicles	-	25 %	reducing balance

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

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 29 (2024: 30 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 29th January 2024 and 28th January 2025	75,000	75,000
	_______	_______
Amortisation
At 29th January 2024	67,500	67,500
Charge for the year	7,500	7,500
	_______	_______
At 28th January 2025	75,000	75,000
	_______	_______
Carrying amount
At 28th January 2025	-	-
	_______	_______
At 28th January 2024	7,500	7,500
	_______	_______

6. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 29th January 2024 and 28th January 2025	359,177	193,538	10,850	563,565
	_______	_______	_______	_______
Depreciation
At 29th January 2024	14,370	112,721	10,036	137,127
Charge for the year	7,185	12,123	204	19,512
	_______	_______	_______	_______
At 28th January 2025	21,555	124,844	10,240	156,639
	_______	_______	_______	_______
Carrying amount
At 28th January 2025	337,622	68,694	610	406,926
	_______	_______	_______	_______
At 28th January 2024	344,807	80,817	814	426,438
	_______	_______	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	75,762	76,952
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	62,896	56,113
Trade creditors	74,922	103,131
Corporation tax	4,745	3,871
Social security and other taxes	77,045	88,513
Other creditors	43,747	26,543
	_______	_______
	263,355	278,171
	_______	_______

The bank loan and overdaft of £79,886 are secured by a fixed and floating charge over the property or undertaking of the company.

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

	2025	2024
	£	£
Bank loans and overdrafts	16,990	27,111
Other creditors	229,243	245,903
	_______	_______
	246,233	273,014
	_______	_______

10. Controlling party

The Company is under the control of the Director.