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Registered number: 11188860
Gale Design and Build Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
TaxAssist Kingswood
2a Hill Street
Kingswood
Bristol
BS15 4EP
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 11188860
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,000 5,000
Tangible Assets 5 346 433
4,346 5,433
CURRENT ASSETS
Debtors 6 12,568 20,377
12,568 20,377
Creditors: Amounts Falling Due Within One Year 7 (16,667 ) (23,463 )
NET CURRENT ASSETS (LIABILITIES) (4,099 ) (3,086 )
TOTAL ASSETS LESS CURRENT LIABILITIES 247 2,347
NET ASSETS 247 2,347
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 246 2,346
SHAREHOLDERS' FUNDS 247 2,347
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Peter Gale
Director
18/11/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Gale Design and Build Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11188860 . The registered office is 133 Beaufort Road, St George, Bristol, BS5 8EZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Computer Equipment 33% SL
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
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Page 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2024 11,000
As at 28 February 2025 11,000
Amortisation
As at 1 March 2024 6,000
Provided during the period 1,000
As at 28 February 2025 7,000
Net Book Value
As at 28 February 2025 4,000
As at 1 March 2024 5,000
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 March 2024 1,650 730 2,380
Disposals - (730 ) (730 )
As at 28 February 2025 1,650 - 1,650
Depreciation
As at 1 March 2024 1,217 730 1,947
Provided during the period 87 - 87
Disposals - (730 ) (730 )
As at 28 February 2025 1,304 - 1,304
Net Book Value
As at 28 February 2025 346 - 346
As at 1 March 2024 433 - 433
6. Debtors
2025 2024
£ £
Due within one year
Other debtors - 5,497
Corporation tax recoverable assets 1,497 1,497
Director's loan account 8,857 11,169
10,354 18,163
Due after more than one year
Corporation tax recoverable assets 2,214 2,214
12,568 20,377
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Page 4
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Bank loans and overdrafts 14,164 14,164
Corporation tax 2,220 7,079
Accruals and deferred income 283 2,220
16,667 23,463
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
Page 4