REGISTERED NUMBER: 14585776 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Galatea (Wrexham) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

S A Bithell

S M Bithell

Registered office:

The Coach House

25 Rhosddu Road

Wrexham

LL11 1EB

Registered number:

14585776 (England and Wales)

Accountants:

Ellis & Co

Chartered Accountants

114-120 Northgate Street

Chester

CH1 2HT

Fixed assets

Tangible assets

4

23,533

7,310

Investment property

5

182,346

154,339

205,879

161,649

Current assets

Debtors

6

-

4,293

Cash at bank and in hand

230

4,176

230

8,469

Creditors

Amounts falling due within one year

7

213,281

176,816

Net current liabilities

(213,051

)

(168,347

)

Total assets less current liabilities

(7,172

)

(6,698

)

Creditors

Amounts falling due after more than one year

8

9,513

-

Net liabilities

(16,685

)

(6,698

)

Capital and reserves

Called up share capital

100

100

Retained earnings

(16,785

)

(6,798

)

(16,685

)

(6,698

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by:

S A Bithell - Director

1.	Statutory information

Galatea (Wrexham) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from property rental is recognised on an accruals basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Going concern

The financial statements have been prepared on the going concern basis of accounting, on the assumption that connected parties will continue to provide financial support to enable the company to meet its current liabilities, which exceeded its current assets at 31 January 2025.

3.	Employees and directors

The average number of employees during the year was NIL (2024 - NIL).

4.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 February 2024

9,138

Additions

22,563

At 31 January 2025

31,701

Depreciation

At 1 February 2024

1,828

Charge for year

6,340

At 31 January 2025

8,168

Net book value

At 31 January 2025

23,533

At 31 January 2024

7,310

5.	Investment property

Total

£

Fair value

At 1 February 2024

154,339

Additions

28,007

At 31 January 2025

182,346

Net book value

At 31 January 2025

182,346

At 31 January 2024

154,339

6.

Debtors: amounts falling due within one year

31/1/25

31/1/24

£

£

Other debtors

-

4,293

7.

Creditors: amounts falling due within one year

31/1/25

31/1/24

£

£

Hire purchase contracts

7,137

-

Trade creditors

5,000

18,644

Taxation and social security

2,714

-

Other creditors

198,430

158,172

213,281

176,816

8.

Creditors: amounts falling due after more than one year

31/1/25

31/1/24

£

£

Hire purchase contracts

9,513

-

9.	Secured debts

The following secured debts are included within creditors:

31/1/25

31/1/24

£

£

Hire purchase contracts

16,650

-

Hire purchase contracts are secured on the underlying assets.

10.	Related party disclosures