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Company Registration No. 12221933 (England and Wales)
Galway Properties Ltd Unaudited accounts for the year ended 30 September 2024
Galway Properties Ltd Unaudited accounts Contents
Page
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Galway Properties Ltd Company Information for the year ended 30 September 2024
Directors
R A O'Donnell D H O'Donnell
Company Number
12221933 (England and Wales)
Registered Office
2 Butterfield Lane St. Albans AL1 2HJ
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Galway Properties Ltd Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
19,200 
- 
Investment property
489,937 
489,937 
509,137 
489,937 
Current assets
Debtors
362 
12,362 
Cash at bank and in hand
42,630 
55,564 
42,992 
67,926 
Creditors: amounts falling due within one year
(1,627)
(936)
Net current assets
41,365 
66,990 
Total assets less current liabilities
550,502 
556,927 
Creditors: amounts falling due after more than one year
(477,625)
(485,551)
Provisions for liabilities
Deferred tax
(12,959)
(12,959)
Net assets
59,918 
58,417 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
59,916 
58,415 
Shareholders' funds
59,918 
58,417 
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2024 and were signed on its behalf by
R A O'Donnell Director Company Registration No. 12221933
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Galway Properties Ltd Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
Galway Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 12221933. The registered office is 2 Butterfield Lane, St. Albans, AL1 2HJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 October 2023
- 
At 30 September 2024
- 
Depreciation
Charge for the year
(19,200)
At 30 September 2024
(19,200)
Net book value
At 30 September 2024
19,200 
5
Investment property
2024 
£ 
Fair value at 1 October 2023
489,937 
At 30 September 2024
489,937 
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Galway Properties Ltd Notes to the Accounts for the year ended 30 September 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
12,000 
Amounts falling due after more than one year
Other debtors
362 
362 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
1,627 
936 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
365,763 
368,189 
Loans from directors
111,862 
117,362 
477,625 
485,551 
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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