GALOWER DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
Company Registration Number: 14298176
GALOWER DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 7
GALOWER DEVELOPMENTS LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025
DIRECTORS
K Gale
M Power
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
102 Long Lane
Stanwell
Staines-Upon-Thames
Middlesex
TW19 7AE
COMPANY REGISTRATION NUMBER
14298176 England and Wales
GALOWER DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
Notes 2025 2024
£ £
CURRENT ASSETS
Stock 440,305 450,505
Debtors 5 1,179 547
Cash at bank and in hand 100 100
441,584 451,152
CREDITORS: Amounts falling due within one year 6 445,023 452,693
NET CURRENT LIABILITIES (3,439) (1,541)
NET LIABILITIES (3,439) (1,541)
CAPITAL AND RESERVES
Called up share capital 100 100
Distributable profit and loss account (3,539) (1,641)
SHAREHOLDERS' DEFICIT (3,439) (1,541)
GALOWER DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
K Gale M Power
Director Director
Date approved by the board: 8 August 2025
GALOWER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1 GENERAL INFORMATION
Galower Developments Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
102 Long Lane
Stanwell
Staines-Upon-Thames
Middlesex
TW19 7AE
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Going concern
The accounts have been drawn up on the going concern basis. The company owes a connected company £443,523 which could be required for repayment without notice. The company is therefore dependent upon the continued support of the connected company The directors do not consider the support of the connected company likely to be withdrawn.
If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets.
GALOWER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account.
Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.
Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.
Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.
Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Work in progress
Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises the cost of materials and direct labour relevant to the stage of construction.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
GALOWER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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 taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2025 2024
Average number of employees 2 2
5 DEBTORS
2025 2024
£ £
Other debtors 1,179 547
6 CREDITORS: Amounts falling due within one year
2025 2024
£ £
Accruals and deferred income 1,500 1,500
Other creditors 443,523 451,193
445,023 452,693
GALOWER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
7 RELATED PARTY TRANSACTIONS
During the year, the following transactions with related parties took place:
Galower Builders Limited
Connected undertaking 2025 2024
£ £
Loan from connected undertaking The connected undertaking has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the connected undertaking the following amount: 443,523 451,193
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