REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 11 January 2023 to 31 January 2024 |
for |
Galatea (Wrexham) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 11 January 2023 to 31 January 2024 |
for |
Galatea (Wrexham) Limited |
Galatea (Wrexham) Limited (Registered number: 14585776) |
Contents of the Financial Statements |
for the Period 11 January 2023 to 31 January 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Galatea (Wrexham) Limited |
Company Information |
for the Period 11 January 2023 to 31 January 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
114-120 Northgate Street |
Chester |
CH1 2HT |
Galatea (Wrexham) Limited (Registered number: 14585776) |
Statement of Financial Position |
31 January 2024 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital | 8 |
Retained earnings | ( |
) |
Shareholders' funds | ( |
) |
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. |
Galatea (Wrexham) Limited (Registered number: 14585776) |
Statement of Financial Position - continued |
31 January 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Galatea (Wrexham) Limited (Registered number: 14585776) |
Notes to the Financial Statements |
for the Period 11 January 2023 to 31 January 2024 |
1. | Statutory information |
Galatea (Wrexham) Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Tangible fixed assets |
Fixtures and fittings | - |
Government grants |
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards the costs of works undertaken on the company's investment property are released to revenue over five years which is the period over which the company is expected to benefit from the expenditure. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
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. |
Taxation |
Taxation for the period 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 statement of financial position 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 period 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. |
Galatea (Wrexham) Limited (Registered number: 14585776) |
Notes to the Financial Statements - continued |
for the Period 11 January 2023 to 31 January 2024 |
2. | Accounting policies - continued |
Going concern |
The financial statements have been prepared on the going concern basis of accounting, on the assumption that the directors will continue to provide financial support to enable the company to meet its current liabilities, which exceeded its current assets at 31 January 2024. |
3. | Employees and directors |
The average number of employees during the period was NIL. |
4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
Additions |
At 31 January 2024 |
Depreciation |
Charge for period |
At 31 January 2024 |
Net book value |
At 31 January 2024 |
5. | Investment property |
Total |
£ |
Fair value |
Additions |
At 31 January 2024 |
Net book value |
At 31 January 2024 |
6. | Debtors: amounts falling due within one year |
£ |
Other debtors |
Galatea (Wrexham) Limited (Registered number: 14585776) |
Notes to the Financial Statements - continued |
for the Period 11 January 2023 to 31 January 2024 |
7. | Creditors: amounts falling due within one year |
£ |
Trade creditors |
Other creditors |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 100 |
100 Ordinary shares of £1 each were allotted and fully paid for |
9. | Related party disclosures |
A director has made loans to the company. The balance on these loans at 31 January 2024 was £ |