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Company No: 00799883 (England and Wales)

# GALT INVESTMENTS LIMITED

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

GALT INVESTMENTS LIMITED

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

GALT INVESTMENTS LIMITED

## COMPANY INFORMATION

For the financial year ended 30 April 2025
GALT INVESTMENTS LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 30 April 2025

Directors | Mr R E Gorringe
| Mrs J E Hopkin

Secretary | Mrs J E Hopkin

Registered office | C/O Kreston Reeves LLP Nile House
| Nile Street
| Brighton
| BN1 1HW
| United Kingdom

Company number | 00799883 (England and Wales)

Accountant | Kreston Reeves LLP
| Projects Nile House
| Nile Street
| Brighton
| BN1 1HW

## ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GALT INVESTMENTS LIMITED

For the financial year ended 30 April 2025

## ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GALT INVESTMENTS LIMITED (continued)

For the financial year ended 30 April 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Galt Investments Limited for the financial year ended 30 April 2025 which comprise the Balance Sheet and the related notes 1 to 10 from the Company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.
It is your duty to ensure that Galt Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Galt Investments Limited. You consider that Galt Investments Limited is exempt from the statutory audit requirement for the financial year.
We have not been instructed to carry out an audit or a review of the financial statements of Galt Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Galt Investments Limited, as a body, in accordance with the terms of our engagement letter dated 18 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Galt Investments Limited and state those matters that we have agreed to state to the Board of Directors of Galt Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Galt Investments Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP

Projects Nile House
Nile Street
Brighton
BN1 1HW

06 January 2026

GALT INVESTMENTS LIMITED

## BALANCE SHEET

As at 30 April 2025
GALT INVESTMENTS LIMITED

## BALANCE SHEET (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 7,331 |  | 9,200
Investment property | 4 | 2,530,000 |  | 2,530,000
|  | 2,537,331 |  | 2,539,200
Current assets |  |  |  |
Debtors | 5 | 296,885 |  | 319,523
Cash at bank and in hand |  | 80,411 |  | 136,608
|  | 377,296 |  | 456,131
Creditors: amounts falling due within one year | 6 | ( 34,707) |  | ( 111,177)
Net current assets |  | 342,589 |  | 344,954
Total assets less current liabilities |  | 2,879,920 |  | 2,884,154
Creditors: amounts falling due after more than one year | 7 | ( 397,067) |  | ( 408,386)
Provision for liabilities | 8 | ( 93,235) |  | ( 93,702)
Net assets |  | 2,389,618 |  | 2,382,066
Capital and reserves |  |  |  |
Called-up share capital | 9 | 400 |  | 400
Share premium account |  | 7,600 |  | 7,600
Fair value reserve |  | 877,080 |  | 877,080
Profit and loss account |  | 1,504,538 |  | 1,496,986
Total shareholders' funds |  | 2,389,618 |  | 2,382,066

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Galt Investments Limited (registered number: 00799883) were approved and authorised for issue by the Board of Directors on 23 December 2025. They were signed on its behalf by:

Mr R E Gorringe Director |

GALT INVESTMENTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
GALT INVESTMENTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Galt Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Kreston Reeves LLP Nile House, Nile Street, Brighton, BN1 1HW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings | 25 % reducing balance
Computer equipment | 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Tangible assets

| Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 May 2024 | 69,746 |  | 1,547 |  | 71,293
Additions | 0 |  | 500 |  | 500
Disposals | ( 7,380) |  | ( 1,547) |  | ( 8,927)
At 30 April 2025 | 62,366 |  | 500 |  | 62,866
Accumulated depreciation |  |  |  |  |
At 01 May 2024 | 60,546 |  | 1,547 |  | 62,093
Charge for the financial year | 2,300 |  | 69 |  | 2,369
Disposals | ( 7,380) |  | ( 1,547) |  | ( 8,927)
At 30 April 2025 | 55,466 |  | 69 |  | 55,535
Net book value |  |  |  |  |
At 30 April 2025 | 6,900 |  | 431 |  | 7,331
At 30 April 2024 | 9,200 |  | 0 |  | 9,200

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 May 2024 | 2,530,000
As at 30 April 2025 | 2,530,000

The 2025 valuations were made by the directors, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 2025 |  | 2024
| £ |  | £
Historic cost | 1,564,364 |  | 1,564,364

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by directors | 217,817 |  | 240,336
Prepayments | 1,685 |  | 1,804
Corporation tax | 77,383 |  | 77,383
| 296,885 |  | 319,523

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 11,350 |  | 10,512
Trade creditors | 362 |  | 2,368
Accruals | 3,345 |  | 2,000
Corporation tax | 19,650 |  | 96,297
| 34,707 |  | 111,177

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 397,067 |  | 408,386

#### 8. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 93,702) |  | ( 126,665)
Credited to the Profit and Loss Account | 467 |  | 32,963
At the end of financial year | ( 93,235) |  | ( 93,702)

The deferred taxation balance is made up as follows:

| 2025 |  | 2024
| £ |  | £
Deferred tax on investment property | ( 91,402) |  | ( 91,402)
Fixed asset timing differences | ( 1,833) |  | ( 2,300)
| ( 93,235) |  | ( 93,702)

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
8,000 Ordinary shares of £ 0.05 each | 400 |  | 400

#### 10. Related party transactions

Other related party transactions

Mrs J E Hopkin
(Director)
At the year end, the director of the company owed £217,817 (2024: £240,336) in respect of a loan which is repayable on demand and interest is charged