REGISTERED NUMBER: 11462282 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

FOR

GALLOWAYS ACCOUNTING (AUDIT) LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Debtors

4

955,309

320,675

Cash at bank

39,868

99,159

995,177

419,834

CREDITORS

Amounts falling due within one year

5

995,129

419,786

NET CURRENT ASSETS

48

48

TOTAL ASSETS LESS CURRENT LIABILITIES

48

48

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

(52

)

(52

)

SHAREHOLDERS' FUNDS

48

48

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 23rd December 2025 and were signed on its behalf by:

M Crowter - Director

1.	STATUTORY INFORMATION

Galloways Accounting (Audit) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11462282

Registered office:

15 West Street

Brighton

East Sussex

BN1 2RL

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents revenue earned under contracts to provide professional audit and accounts services. Revenue is recognised when the stage of completion of the contract, and the amount receivable can be measured reliably and it is probable that the revenue will be received. It is measured at the fair value of the consideration received or receivable net of VAT.

Financial instruments

Trade debtors are included at original invoiced amount, less an allowance for doubtful debts. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Trade creditors are included at the original invoiced amount.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

286,944

274,563

Amounts owed by group undertakings

667,402

46,012

Other debtors

963

100

955,309

320,675

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

-

35

Amounts owed to group undertakings

995,129

419,608

Taxation and social security

-

143

995,129

419,786

6.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2025

2024

value:

£

£

48

Ordinary A

£1

48

48

52

Ordinary B

£1

52

52

100

100

The Ordinary B shares are held by Directors with the audit qualification and convey operational control of the company.