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REGISTERED NUMBER: 12952479 (England and Wales)










Galtee Holdings Limited

Unaudited Financial Statements

for the Year Ended 31 October 2024






Galtee Holdings Limited (Registered number: 12952479)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Galtee Holdings Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr Noel Gerard Creamer
Mr Ian Harry Creamer
Mr Thomas Creamer





REGISTERED OFFICE: Suite 14, Link 665 Business Centre
Todd Hall Road
Haslingden
Rossendale
Lancashire
BB4 5HU





REGISTERED NUMBER: 12952479 (England and Wales)






Galtee Holdings Limited (Registered number: 12952479)

Balance Sheet
31 October 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 85 1

CURRENT ASSETS
Debtors 5 414,155 407,209
Cash at bank 3,326,252 1,896,297
3,740,407 2,303,506
CREDITORS
Amounts falling due within one year 6 (837,777 ) (2,653 )
NET CURRENT ASSETS 2,902,630 2,300,853
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,902,715

2,300,854

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,901,715 2,299,854
2,902,715 2,300,854

Galtee Holdings Limited (Registered number: 12952479)

Balance Sheet - continued
31 October 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





Mr Ian Harry Creamer - Director


Galtee Holdings Limited (Registered number: 12952479)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Suite 14, Link 665 Business Centre
Todd Hall Road
Haslingden
Rossendale
Lancashire
BB4 5HU

2. ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below.These policies have been consistently applied to all the years presented, unless otherwise stated.

STATEMENT OF COMPLIANCE
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

GOING CONCERN
The financial statements have been prepared on a going concern basis.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax,returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Statement of Retained Earnings, 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.

Galtee Holdings Limited (Registered number: 12952479)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

BUSINESS COMBINATIONS
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed,and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

INVESTMENTS
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method.Dividends on equity securities are recognised in income when receivable.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

DIVIDENDS
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Galtee Holdings Limited (Registered number: 12952479)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. FIXED ASSET INVESTMENTS
Investment
in
subsidiarie
£   
COST
At 1 November 2023 1
Additions 84
At 31 October 2024 85
NET BOOK VALUE
At 31 October 2024 85
At 31 October 2023 1

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts 316,005 309,059
Provision for corporation tax refund 98,150 98,150
414,155 407,209

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 73
Amounts owed to participating interests 835,104 -
Corporation tax 906 960
Accruals 1,767 1,620
837,777 2,653