Company registration number 01187941 (England and Wales)
Charles Gallagher Limited
Financial Statements
For the year ended 30 April 2025
PAGES FOR FILING WITH REGISTRAR
Charles Gallagher Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Charles Gallagher Limited
Balance Sheet
As at 30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
129,882
125,350
Current assets
Stocks
1,000
1,000
Debtors
4
35,409
69,601
Cash at bank and in hand
2,081,361
1,890,593
2,117,770
1,961,194
Creditors: amounts falling due within one year
5
(212,250)
(335,423)
Net current assets
1,905,520
1,625,771
Net assets
2,035,402
1,751,121
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss reserves
1,935,402
1,651,121
Total equity
2,035,402
1,751,121

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 12 January 2026 and are signed on its behalf by:
Mr C H Gallagher
Mr J M Wragg
Director
Director
Company registration number 01187941 (England and Wales)
Charles Gallagher Limited
Notes to the Financial Statements
For the year ended 30 April 2025
- 2 -
1
Accounting policies
Company information

Charles Gallagher Limited is a private company limited by shares incorporated in England and Wales. The principal place of business is Matthew House, 45-47 High Street, Potters Bar, Hertfordshire EN6 5AW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least twelve months from the date of approval of the financial statements. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue from residential housing developments and the respective profits are recognised when the property is structurally complete and legally transferred to the purchaser.

Revenue from leasehold extensions is recognised when receivable.

1.4
Investment property

Investment property comprises of ground rents which are valued by the directors of the company at one year’s rent receivable. The directors consider this a fair estimate of the value to the company of the right to receive ground rents.

The surplus or deficit arising from the annual revaluation of investment properties is recognised in profit or loss. This is in accordance with FRS102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

1.5
Stocks

Development land is valued at the lower of cost and net realisable value less an appropriate proportion relating to plots sold in the case of estates in the course of development. Regular reviews are carried out to identify any impairment in the value of the land by comparing the total estimated selling prices less estimated selling expenses against the book cost of the land plus estimated costs to complete. Provision is made for any irrecoverable amounts. Any increase in the value of land previously written down to net realisable value is recognised immediately. At the year-end no provision for impairment against original cost was considered necessary.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Charles Gallagher Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2025
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
Charles Gallagher Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2025
- 4 -
3
Investment property
2025
£
Fair value
At 1 May 2024
125,350
Revaluations
4,532
At 30 April 2025
129,882

Investment properties comprise ground rents. Ground rents are valued by the directors, on the basis of one year's ground rent receivable, with the latest valuation carried out at the end of the financial period.

4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
540
-
0
Other debtors
34,869
69,601
35,409
69,601
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
-
0
612
Amounts owed to group undertakings
30,717
-
0
Corporation tax
-
0
148,291
Other creditors
181,533
186,520
212,250
335,423
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 April 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Charles Gallagher Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2025
6
Audit report information
(Continued)
- 5 -
Senior Statutory Auditor:
Luke Parker ACA
Statutory Auditor:
Gilberts Chartered Accountants
Date of audit report:
12 January 2026
7
Related party transactions
Transactions with related parties

The company has taken advantage of the exemptions for qualifying subsidiary undertakings not to include details of transactions with other group companies.

8
Parent company

The directors consider that the parent undertaking of the company is Matthew Investments Limited and the ultimate parent undertaking to be Shrewsbury Holdings Limited, a company incorporated in Jersey.

The following are t he parents of the largest and smallest groups in which this company's results are consolidated:

Largest group
Gallagher Investments Limited
Smallest group
Gallagher Investments Limited
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