REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
GALLERIA HOLDINGS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
GALLERIA HOLDINGS LIMITED |
GALLERIA HOLDINGS LIMITED (REGISTERED NUMBER: 04384051) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
GALLERIA HOLDINGS LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
GALLERIA HOLDINGS LIMITED (REGISTERED NUMBER: 04384051) |
STATEMENT OF FINANCIAL POSITION |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium | 8 |
Capital redemption reserve | 8 |
Other reserves | 8 | ( |
) | ( |
) |
Retained earnings | 8 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
GALLERIA HOLDINGS LIMITED (REGISTERED NUMBER: 04384051) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Galleria Holdings Limited is a |
Galleria Holdings Limited is an intermediary holding company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis. The directors believe this basis is the most appropriate as the parent company, Relex Logistics Excellence - Relex Oy, have confirmed they will continue to provide financial support to Galleria Holdings Limited for a period in excess of 12 months and 1 day following the sign off of the audit report. |
Preparation of consolidated financial statements |
The financial statements contain information about Galleria Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Financial instruments |
Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102. |
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 statement of financial position 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. |
GALLERIA HOLDINGS LIMITED (REGISTERED NUMBER: 04384051) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2022 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Investments |
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
PROVISIONS |
At 1 January 2022 |
and 31 December 2022 | 1,095 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
Registered office: Trent House, Victoria Road, Stoke-On-Trent, England, ST4 2LW |
Nature of business: |
% |
Class of shares: | holding |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
GALLERIA HOLDINGS LIMITED (REGISTERED NUMBER: 04384051) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
Amounts owed by Group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand. The directors anticipate that the balance will be recovered after a period of more than one year from the balance sheet date. However, they have been classified as due within one year, because they are repayable on demand. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors & accruals |
Amounts owed to Group undertakings are unsecured, at 5% interest per annum, have no fixed date of repayment and are repayable on demand. |
7. | CALLED UP SHARE CAPITAL |
Issued, called up and not fully paid |
2022 | 2021 |
No. | £ | No. | £ |
Ordinary shares of £1 each | 2,675 | 2,676 | 2,675 | 2,676 |
2,675 | 2,676 | 2,675 | 2,676 |
The Ordinary shares carry voting rights, rights to dividends, rights to participate in a distribution and are non-redeemable. |
8. | RESERVES |
Capital |
Retained | Share | redemption | Other |
earnings | premium | reserve | reserves | Totals |
£ | £ | £ | £ | £ |
At 1 January 2022 | (1,564,681 | ) | 77,498 | 7,510 | (254,353 | ) | (1,734,026 | ) |
Deficit for the year | (122,403 | ) | (122,403 | ) |
At 31 December 2022 | (1,687,084 | ) | 77,498 | 7,510 | (254,353 | ) | (1,856,429 | ) |
Other reserves comprise an interest in own shares reserve of £(254,353). |
GALLERIA HOLDINGS LIMITED (REGISTERED NUMBER: 04384051) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2022 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:- |
"Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed." |
10. | ULTIMATE PARENT COMPANY |
The immediate and ultimate parent company is Relex Logistics Excellence - Relex Oy, a company incorporated in Finland. This is the largest and smallest group for which consolidated financial statements are produced. Copies of the consolidated financial statements are available from Postintaival 7, 00230, Helsinki, Finland. |