REGISTERED NUMBER: 02293794 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2025

for

Galloways Bakers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

J D Lowe

Mrs J Lowe

SECRETARY:

Mrs J Lowe

REGISTERED OFFICE:

3 Woods Street

Wigan

Lancashire

WN3 4ET

REGISTERED NUMBER:

02293794 (England and Wales)

ACCOUNTANTS:

Bennett Brooks & Co Limited

Chartered Accountants

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

FIXED ASSETS

Tangible assets

4

168,527

246,785

CURRENT ASSETS

Stocks

167,794

122,992

Debtors

5

3,785,170

3,737,194

Cash at bank and in hand

429,882

478,497

4,382,846

4,338,683

CREDITORS

Amounts falling due within one year

6

948,290

1,041,201

NET CURRENT ASSETS

3,434,556

3,297,482

TOTAL ASSETS LESS CURRENT LIABILITIES

3,603,083

3,544,267

PROVISIONS FOR LIABILITIES

37,724

57,322

NET ASSETS

3,565,359

3,486,945

CAPITAL AND RESERVES

Called up share capital

8

1,002

1,002

Retained earnings

3,564,357

3,485,943

SHAREHOLDERS' FUNDS

3,565,359

3,486,945

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2026 and were signed on its behalf by:

J D Lowe - Director

1.	STATUTORY INFORMATION

Galloways Bakers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Leasehold property

- 25% on cost

Plant and machinery

- 25% on cost

Fixtures and fittings

- 25% on cost

Computer equipment

- 33% on cost

Motor vehicles

- 25% reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the Income Statement over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.

Share capital

Ordinary & Ordinary B shares are classed as equity.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Distributions to equity holders

Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 204 (2024 - 193 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2024

951,125

Additions

37,442

Disposals

(24,150

)

At 31 October 2025

964,417

DEPRECIATION

At 1 November 2024

704,340

Charge for year

107,111

Eliminated on disposal

(15,561

)

At 31 October 2025

795,890

NET BOOK VALUE

At 31 October 2025

168,527

At 31 October 2024

246,785

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

38,330

25,537

Amounts owed by group undertakings

3,550,020

3,504,624

Other debtors

196,820

207,033

3,785,170

3,737,194

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

454,037

490,217

Taxation and social security

259,184

330,291

Other creditors

235,069

220,693

948,290

1,041,201

7.	SECURED DEBTS

The bank have a fixed and floating charge over the company assets and undertakings.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

902

Ordinary

£1

902

902

100

Ordinary B

£1

100

100

1,002

1,002

9.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company has non cancellable operating lease commitments totalling £749,190 (2024: £876,892).

10.	RELATED PARTY DISCLOSURES

Within debtors is a balance due from the company's parent Loweco (UK) Limited of £3,550,020 (2024: £3,504,624). This is a company with common directors. It bears no interest and is repayable on demand.

11.	ULTIMATE PARENT COMPANY

Loweco (UK) Limited is the ultimate parent company. The parent's registered office is 3 Woods Street, Wigan, Lancashire, WN3 4ET.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Galloways Bakers Limited for the year ended 31 October 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Galloways Bakers Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Galloways Bakers Limited and state those matters that we have agreed to state to the Board of Directors of Galloways Bakers Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Galloways Bakers Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Galloways Bakers 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 profit of Galloways Bakers Limited. You consider that Galloways Bakers 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 Galloways Bakers 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.

Bennett Brooks & Co Limited

Chartered Accountants

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

28 October 2026