Registration number:
Gala Tres (Trading) Limited
Filleted
for the Year Ended 31 December 2022
Gala Tres (Trading) Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Gala Tres (Trading) Limited
Company Information
Directors |
Mr M F Hogan Mrs M E McQuaid |
Registered office |
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Bankers |
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Accountants |
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Gala Tres (Trading) Limited
(Registration number: 07407021)
Statement of Financial Position as at 31 December 2022
Note |
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2021 |
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Fixed assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.
Approved and authorised for issue by the
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Gala Tres (Trading) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investment property
Gala Tres (Trading) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022 (continued)
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Accounting policies (continued) |
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2022 |
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At 1 January |
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At 31 December |
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The investment properties are stated at fair value as assessed by the directors. Their assessment is based on local property values.
There has been no valuation of investment property by an independent valuer.
Gala Tres (Trading) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022 (continued)
Investments |
Associates |
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Cost |
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At 1 January 2022 |
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At 31 December 2022 |
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Carrying amount |
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At 31 December 2022 |
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At 31 December 2021 |
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Debtors |
2022 |
2021 |
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Trade debtors |
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Prepayments |
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Corporation tax asset |
568 |
568 |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Due within one year |
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Amounts owed to group undertakings |
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- |
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Accruals and deferred income |
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Other creditors |
- |
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