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REGISTERED NUMBER: 12391557 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 31 May 2023 |

| for |

| Gallica 2 Ltd |

| Gallica 2 Ltd (Registered number: 12391557) |

Contents of the Financial Statements

for the year ended 31 May 2023

Page |

| Company Information | 1 |

| Abridged Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Gallica 2 Ltd |

Company Information

for the year ended 31 May 2023

| DIRECTORS: | G Barnes

| J B Baron

| REGISTERED OFFICE: | 59 Balmoral Road

| Accrington

| BB5 6DB

| REGISTERED NUMBER: | 12391557 (England and Wales)

| ACCOUNTANTS: | Mayes Business Partnership Ltd

| Chartered Certified Accountants

| 22-28 Willow Street

| Accrington

| Lancashire

| BB5 1LP

| Gallica 2 Ltd (Registered number: 12391557) |

Abridged Balance Sheet

31 May 2023

| 31/5/23 | 31/5/22 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investment property | 4 | 539,181 |  | 420,000 |  |

CURRENT ASSETS

Cash at bank | - |  | 2,611 |  |

CREDITORS

Amounts falling due within one year | 198,296 |  | 128,389 |  |

NET CURRENT LIABILITIES | (198,296 | ) | (125,778 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 340,885 |  | 294,222 |  |

CREDITORS

Amounts falling due after more than one year | 5 | (274,457 | ) | (217,652 | ) |

PROVISIONS FOR LIABILITIES | (11,009 | ) | (12,936 | ) |

NET ASSETS | 55,419 |  | 63,634 |  |

CAPITAL AND RESERVES

Called up share capital | 7 | 100 |  | 100 |  |

Fair value reserve | 8 | 55,150 |  | 55,150 |  |

Retained earnings | 169 |  | 8,384 |  |

SHAREHOLDERS' FUNDS | 55,419 |  | 63,634 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

| Gallica 2 Ltd (Registered number: 12391557) |

Abridged Balance Sheet - continued

31 May 2023

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 September 2023 and were signed on its behalf by:

J B Baron - Director

| Gallica 2 Ltd (Registered number: 12391557) |

Notes to the Financial Statements

for the year ended 31 May 2023

1. | STATUTORY INFORMATION

| Gallica 2 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 as modified by the revaluation of certain assets.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Investment property is included at fair value. Gains are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

| Financial instruments

| Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

| 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.

| Gallica 2 Ltd (Registered number: 12391557) |

Notes to the Financial Statements - continued

for the year ended 31 May 2023

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2022 - 2 ) .

4. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 June 2022 | 420,000 |  |

| Additions | 119,181 |  |

| At 31 May 2023 | 539,181 |  |

| NET BOOK VALUE

| At 31 May 2023 | 539,181 |  |

| At 31 May 2022 | 420,000 |  |

| Fair value at 31 May 2023 is represented by:

£ |

| Valuation in 2021 | 8,086 |  |

| Valuation in 2022 | 60,000 |  |

| Cost | 471,095 |  |

539,181 |  |

| If investment property had not been revalued it would have been included at the following historical cost:

| 31/5/23 |  | 31/5/22

£ | £ |

| Cost | 490,282 |  | 351,914 |  |

| Investment property was valued on an open market basis on 31 May 2022 by the directors. .

5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |

| 31/5/23 |  | 31/5/22

£ | £ |

| Repayable by instalments

| Bank loans more 5 yr by instal | 240,471 |  | 167,483 |  |

| Gallica 2 Ltd (Registered number: 12391557) |

Notes to the Financial Statements - continued

for the year ended 31 May 2023

6. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31/5/23 |  | 31/5/22

£ | £ |

| Bank loans | 285,033 |  | 230,091 |  |

| The mortgage loan is secured via a fixed and floating charge over any and all property or undertaking of the company.

7. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31/5/23 |  | 31/5/22

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

8. | RESERVES

| Fair

| value

| reserve

£ |

| At 1 June 2022

| and 31 May 2023 | 55,150 |  |