Gally Hill Estates Limited
Registered number: 04660146
Statement of Financial Position
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 133 266
Financial assets 24,000 -
24,133 266
Current assets
Debtors 4 618,357 613,889
Cash at bank and in hand 934,108 953,773
1,552,465 1,567,662
Creditors: amounts falling due within one year 5 (1,601,957) (1,620,591)
Net current liabilities (49,492) (52,929)
Net liabilities (25,359) (52,663)
Capital and reserves
Called up share capital 1 1
Profit and loss account (25,360) (52,664)
Shareholders' funds (25,359) (52,663)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D F Pinto
Director
Approved by the board on 17 July 2025
Gally Hill Estates Limited
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Investments
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/Impairment losses are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction 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.
Creditors
Short term creditors are measured at transaction 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees and directors 2025 2024
Number Number
Average number of directors and persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2024 1,205
At 28 February 2025 1,205
Depreciation
At 1 March 2024 939
Charge for the year 133
At 28 February 2025 1,072
Net book value
At 28 February 2025 133
At 29 February 2024 266
4 Debtors 2025 2024
£ £
Other debtors 618,357 613,889
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 10,015 9,476
Accruals 1,140 7,290
Other creditors 1,590,802 1,603,825
1,601,957 1,620,591
6 Other information
Gally Hill Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
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