Company registration number 11494483 (England and Wales)
GALEID HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
GALEID HOLDINGS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GALEID HOLDINGS LTD
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
944,415
944,415
Current assets
Debtors
4
12,774
-
0
Cash at bank and in hand
510,917
315,553
523,691
315,553
Creditors: amounts falling due within one year
5
(694,735)
(694,735)
Net current liabilities
(171,044)
(379,182)
Total assets less current liabilities
773,371
565,233
Creditors: amounts falling due after more than one year
6
(8,957)
(9,391)
Net assets
764,414
555,842
Capital and reserves
Called up share capital
7
255,780
255,780
Profit and loss reserves
508,634
300,062
Total equity
764,414
555,842

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

GALEID HOLDINGS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 October 2024 and are signed on its behalf by:
Mr A P Reid
Mr P M Gallagher
Director
Director
Company Registration No. 11494483
GALEID HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Galeid Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3, Astra Business Centre, Longridge Road, Preston, PR2 5AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

GALEID HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
3
Fixed asset investments
2024
2023
£
£
Investments
944,415
944,415
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 February 2023 & 31 January 2024
944,415
Carrying amount
At 31 January 2024
944,415
At 31 January 2023
944,415
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
12,529
-
0
Other debtors
245
-
0
12,774
-
0
GALEID HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other borrowings
689,535
689,535
Accruals and deferred income
5,200
5,200
694,735
694,735
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
8,957
9,391
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
191,735 Ordinary A of £1 each
191,735
191,735
63,845 Ordinary B of £1 each
63,845
63,845
100 Ordinary C of £1 each
100
100
100 Ordinary D of £1 each
100
100
255,780
255,780
Preference share capital
Issued and fully paid
689,535 7.5% Cumulative Redeemable preference shares of £1 each
689,535
689,535
Preference shares classified as liabilities
689,535
689,535

All ordinary share classes rank pari passu except for the right to declare dividends and not another.

 

The company has in issue 689,535 redeemable preference shares of £1 each, classified within other liabilities in the balance sheet. These do not carry voting rights.

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