Galzar Consulting Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07692508 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2020

for

Galzar Consulting Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr L Gallucci

Mrs R Zaccaria

SECRETARY:

REGISTERED OFFICE:

15-17 Grosvenor Gardens

London

SW1W 0BD

REGISTERED NUMBER:

07692508 (England and Wales)

ACCOUNTANTS:

London Corporate Management Ltd.

2nd Floor, 37-38 Long Acre

Covent Garden

London

Greater London

WC2E 9JT

CALLED UP SHARE CAPITAL NOT PAID

100

100

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

132,385

129,985

132,385

129,985

CURRENT ASSETS

Debtors

6

1,060,732

1,651,810

Cash at bank

137,894

200,117

1,198,626

1,851,927

CREDITORS

Amounts falling due within one year

7

329,157

957,420

NET CURRENT ASSETS

869,469

894,507

TOTAL ASSETS LESS CURRENT LIABILITIES

1,001,954

1,024,592

CREDITORS

Amounts falling due after more than one year

8

912,780

912,780

NET ASSETS

89,174

111,812

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

89,074

111,712

SHAREHOLDERS' FUNDS

89,174

111,812

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 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 22 April 2021 and were signed on its behalf by:

Mr L Gallucci - Director

1.	STATUTORY INFORMATION

Galzar Consulting Ltd 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.

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

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

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 August 2019

and 31 July 2020

1,651

DEPRECIATION

At 1 August 2019

and 31 July 2020

1,651

NET BOOK VALUE

At 31 July 2020

-

At 31 July 2019

-

5.	FIXED ASSET INVESTMENTS

31.7.20

31.7.19

£

£

Shares in group undertakings

104,400

104,400

Loans to group undertakings

2,400

-

Participating interests

25,585

25,585

132,385

129,985

Additional information is as follows:

Interest

Shares in

in other

group

participating

undertakings

interests

Totals

£

£

£

COST

At 1 August 2019

and 31 July 2020

104,400

25,585

129,985

NET BOOK VALUE

At 31 July 2020

104,400

25,585

129,985

At 31 July 2019

104,400

25,585

129,985

Loans to

group

undertakings

£

New in year

2,400

At 31 July 2020

2,400

6.

DEBTORS

31.7.20

31.7.19

£

£

Amounts falling due within one year:

Trade debtors

9,840

9,841

Other debtors

221,998

745,176

VAT

-

2,427

Prepayments and accrued income

9,721

75,193

241,559

832,637

31.7.20

31.7.19

£

£

Amounts falling due after more than one year:

Other debtors

819,173

819,173

Aggregate amounts

1,060,732

1,651,810

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Trade creditors

77,000

254,779

Tax

5,630

14,412

Social security and other taxes

17

-

VAT

77

-

Company Credit Card

1,258

2,071

Other creditors

227,051

615,430

Directors' current accounts

329

329

Accruals and deferred income

17,795

70,399

329,157

957,420

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.20

31.7.19

£

£

Other loans - 1-2 years

156,620

156,620

Other creditors

756,160

756,160

912,780

912,780

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.20

31.7.19

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 August 2019

111,712

Profit for the year

5,362

Dividends

(28,000

)

At 31 July 2020

89,074