REGISTERED NUMBER: SC279430 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Galapate Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D S Paterson

Mrs P Paterson

SECRETARY:

Mrs P Paterson

REGISTERED OFFICE:

First Floor (Left), Channel

House, Channel Street

Galashiels

TD1 1BA

REGISTERED NUMBER:

SC279430 (Scotland)

ACCOUNTANTS:

EQ Accountants Ltd

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

FIXED ASSETS

Property, plant and equipment

4

506,987

674,969

CURRENT ASSETS

Inventories

15,975

19,813

Debtors

5

499

1,200

Cash at bank and in hand

18,913

24,084

35,387

45,097

CREDITORS

Amounts falling due within one year

6

273,193

307,872

NET CURRENT LIABILITIES

(237,806

)

(262,775

)

TOTAL ASSETS LESS CURRENT LIABILITIES

269,181

412,194

CREDITORS

Amounts falling due after more than one year

7

(178,840

)

(365,083

)

PROVISIONS FOR LIABILITIES

(1,500

)

-

NET ASSETS

88,841

47,111

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

88,741

47,011

SHAREHOLDERS' FUNDS

88,841

47,111

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 20 October 2026 and were signed on its behalf by:

D S Paterson - Director

1.	STATUTORY INFORMATION

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

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

Revenue 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Stocks

Inventories 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

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2025 - 24 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2025

656,130

11,174

14,874

Additions

11,915

-

1,613

Disposals

(166,892

)

(11,174

)

(2,917

)

At 31 March 2026

501,153

-

13,570

DEPRECIATION

At 1 April 2025

-

-

10,814

Charge for year

-

-

785

Eliminated on disposal

-

-

(2,260

)

At 31 March 2026

-

-

9,339

NET BOOK VALUE

At 31 March 2026

501,153

-

4,231

At 31 March 2025

656,130

11,174

4,060

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2025

32,556

1,740

716,474

Additions

-

-

13,528

Disposals

(3,486

)

-

(184,469

)

At 31 March 2026

29,070

1,740

545,533

DEPRECIATION

At 1 April 2025

29,904

787

41,505

Charge for year

241

316

1,342

Eliminated on disposal

(2,041

)

-

(4,301

)

At 31 March 2026

28,104

1,103

38,546

NET BOOK VALUE

At 31 March 2026

966

637

506,987

At 31 March 2025

2,652

953

674,969

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

£

Other debtors

499

1,200

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

£

Bank loans and overdrafts

37,924

73,558

Trade creditors

12,436

16,477

Taxation and social security

33,546

24,886

Other creditors

189,287

192,951

273,193

307,872

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/26

31/3/25

£

£

Bank loans

178,840

350,083

Other creditors

-

15,000

178,840

365,083

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

77,788

148,910

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/26

31/3/25

£

£

Bank loans

204,103

410,416

Other loans

4,775

20,000

208,878

430,416