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GALZAR CONSULTING LTD

Registered Number
07692508
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

GALZAR CONSULTING LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

GALLUCCI, Lorenzo
ZACCARIA, Roberta

Registered Address

1st Floor, 21-22 Grosvenor Street
London
W1K 4QJ

Registered Number

07692508 (England and Wales)
GALZAR CONSULTING LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments451,705112,601
51,705112,601
Current assets
Debtors557,15220,100
Cash at bank and on hand24,0367,597
81,18827,697
Creditors amounts falling due within one year6(56,805)(56,170)
Net current assets (liabilities)24,383(28,473)
Total assets less current liabilities76,08884,128
Creditors amounts falling due after one year7(149,710)(149,710)
Net assets(73,622)(65,582)
Capital and reserves
Called up share capital100100
Profit and loss account(73,722)(65,682)
Shareholders' funds(73,622)(65,582)
The financial statements were approved and authorised for issue by the Board of Directors on 15 April 2025, and are signed on its behalf by:
GALLUCCI, Lorenzo
Director
Registered Company No. 07692508
GALZAR CONSULTING LTD
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Interest income
Interest income is recognised using the effective interest rate method.
Dividend income
Dividend income is recognised when the right to receive payment is established.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 August 233,1253,125
At 31 July 243,1253,125
Depreciation and impairment
At 01 August 233,1253,125
At 31 July 243,1253,125
Net book value
At 31 July 24--
At 31 July 23--
4.Fixed asset investments

Investments in groups1

Loans to groups2

Total

£££
Cost or valuation
At 01 August 2325,75586,846112,601
Disposals(22,088)(26,636)(48,724)
Transfers-(12,172)(12,172)
At 31 July 243,66748,03851,705
Net book value
At 31 July 243,66748,03851,705
At 31 July 2325,75586,846112,601

Notes

1Investments in group undertakings and participating interests
2Loans to group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Other debtors57,15220,100
Total57,15220,100
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables44,24944,251
Taxation and social security6711,647
Other creditors10,6859,072
Accrued liabilities and deferred income1,2001,200
Total56,80556,170
7.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties149,710149,710
Total149,710149,710