Caseware UK (AP4) 2022.0.179 2022.0.179 2022-11-302022-11-30false2021-12-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity11falsetrue 11085336 2021-12-01 2022-11-30 11085336 2020-12-01 2021-11-30 11085336 2022-11-30 11085336 2021-11-30 11085336 c:Director1 2021-12-01 2022-11-30 11085336 d:FurnitureFittings 2021-12-01 2022-11-30 11085336 d:FurnitureFittings 2022-11-30 11085336 d:FurnitureFittings 2021-11-30 11085336 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-12-01 2022-11-30 11085336 d:ComputerEquipment 2021-12-01 2022-11-30 11085336 d:ComputerEquipment 2022-11-30 11085336 d:ComputerEquipment 2021-11-30 11085336 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-12-01 2022-11-30 11085336 d:OwnedOrFreeholdAssets 2021-12-01 2022-11-30 11085336 d:CurrentFinancialInstruments 2022-11-30 11085336 d:CurrentFinancialInstruments 2021-11-30 11085336 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 11085336 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 11085336 d:ShareCapital 2022-11-30 11085336 d:ShareCapital 2021-11-30 11085336 d:RetainedEarningsAccumulatedLosses 2022-11-30 11085336 d:RetainedEarningsAccumulatedLosses 2021-11-30 11085336 c:FRS102 2021-12-01 2022-11-30 11085336 c:AuditExempt-NoAccountantsReport 2021-12-01 2022-11-30 11085336 c:FullAccounts 2021-12-01 2022-11-30 11085336 c:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure
Registered number: 11085336













GALILEUS LIMITED
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022


 
GALILEUS LIMITED
REGISTERED NUMBER:11085336


BALANCE SHEET
AS AT 30 NOVEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,287
3,160

Current assets
  

Debtors: amounts falling due within one year
 5 
33
52

Cash at bank and in hand
  
23,928
39,033

  
23,961
39,085

Creditors: amounts falling due within one year
 6 
(6,848)
(31,132)

Net current assets
  
 
 
17,113
 
 
7,953

  

Net assets
  
18,400
11,113


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
18,300
11,013

  
18,400
11,113


Page 1


 
GALILEUS LIMITED
REGISTERED NUMBER:11085336

    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G Cislaghi
Director

Date: 28 September 2023

Page 2


 
GALILEUS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

1.


General information

Galileus Limited (company number 11085336) is a private company limited by shares and incorporated in England and Wales. Its registered office is Harwod House, 43 Harwood Road, London, SW6 4QP.
The principal activity of the company during the year was the provision of assistance and advice on real estate and other activities.
The financial statements are presented in sterling which is the funcitonal currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3


 
GALILEUS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4


 
GALILEUS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

Page 5


 
GALILEUS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 December 2021
1,460
4,490
5,950



At 30 November 2022

1,460
4,490
5,950



Depreciation


At 1 December 2021
1,168
1,622
2,790


Charge for the year on owned assets
292
1,581
1,873



At 30 November 2022

1,460
3,203
4,663



Net book value



At 30 November 2022
-
1,287
1,287


Page 6


 
GALILEUS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

5.


Debtors

2022
2021
£
£


Other debtors
33
52



6.


Creditors: amounts falling due within one year

2022
2021
£
£

Corporation tax
2,165
2,247

Other creditors
908
26,885

Accruals and deferred income
3,775
2,000

6,848
31,132



7.


Related party transactions

Included in other creditors is a director's loan of £908 (2021: £26,885) owed to G Cislaghi. This loan is unsecured and interest free and has no fixed terms of repayment.


8.


Controlling party

The ultimate controlling party is G Cislaghi, who owns 100%  of the issued capital.
 
Page 7