Company registration number 11737819 (England and Wales)
GALLDOC POWER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
GALLDOC POWER LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
GALLDOC POWER LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,753,220
2,142,847
Investment property
5
1,382,441
1,382,441
3,135,661
3,525,288
Current assets
Debtors
6
430,486
649,697
Cash at bank and in hand
895,579
2,000,724
1,326,065
2,650,421
Creditors: amounts falling due within one year
7
(171,076)
(662,781)
Net current assets
1,154,989
1,987,640
Total assets less current liabilities
4,290,650
5,512,928
Creditors: amounts falling due after more than one year
8
-
0
(9,280)
Provisions for liabilities
(412,119)
(524,857)
Net assets
3,878,531
4,978,791
Capital and reserves
Called up share capital
9
6
6
Profit and loss reserves
3,878,525
4,978,785
Total equity
3,878,531
4,978,791
GALLDOC POWER LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
31 December 2025
- 2 -

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question 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.

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 15 July 2026 and are signed on its behalf by:
G Gallagher
Director
Company registration number 11737819 (England and Wales)
GALLDOC POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Galldoc Power Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Pennine Parade, Pennine Drive, London, NW2 1NT.

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, The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is recognised at the fair value of the consideration received or receivable for the plant and equipment hire services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The company recognises revenue from the following major sources:

- Plant hire services

- Rental and associated income

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Plant hire services

Plant hire services income is generated on a daily or weekly rate, and is recognised on the provision of the service.

Rental and associated income

Rental and associated income is recognised on a straight line basis over the term of the lease - see Leases below.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% Reducing Balance
Motor vehicles
25% Reducing balance

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.

GALLDOC POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
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 current liabilities, where relevant.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Taxation

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

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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

GALLDOC POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Recoverability of intercompany balances

Management regularly review intercompany balances for recoverability.

Impairment review of Investment property

Management regularly review the current market value, rental market and rental yields of the Investment property.

3
Employees

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

2025
2024
Number
Number
Total
6
5
GALLDOC POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2025
3,721,649
Additions
277,054
Disposals
(191,480)
At 31 December 2025
3,807,223
Depreciation and impairment
At 1 January 2025
1,578,802
Depreciation charged in the year
575,062
Eliminated in respect of disposals
(99,861)
At 31 December 2025
2,054,003
Carrying amount
At 31 December 2025
1,753,220
At 31 December 2024
2,142,847

Certain items of plant and machinery have been pledged to secure borrowings of the company. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity until the borrowings have been repaid.

5
Investment property
2025
£
Fair value
At 1 January 2025
-
0
Additions
1,382,441
At 31 December 2025
1,382,441

Investment property comprises a freehold property. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 December 2025 by the directors, who have confirmed that the valuation has not materially changed since the acquisition date in April 2024. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
7,338
1,846
Other debtors
423,148
647,851
430,486
649,697
GALLDOC POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
6
Debtors
(Continued)
- 7 -

Included in other debtors are amounts owed by related companies that are unsecured, interest-free, have no fixed date of repayment and are repayable on demand.

7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
5,718
18,375
Taxation and social security
43,916
545,574
Other creditors
121,442
98,832
171,076
662,781

Included in other creditors are amounts owed to related companies that are unsecured, interest-free, have no fixed date of repayment and are repayable on demand.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
-
0
9,280

Included in other creditors falling due within and after one year, are net obligations under hire purchase contracts totalling £9,280 (2024: £39,657), which are secured.

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
3
3
3
3
B Ordinary shares of £1 each
1
1
1
1
C Ordinary shares of £1 each
1
1
1
1
D Ordinary shares of £1 each
1
1
1
1
6
6
6
6

The company has four classes of ordinary shares which carry no right to fixed income.

A Ordinary shares have full rights with regard to voting, dividend and capital distribution.

B, C, and D ordinary shares are irredeemable and have full rights with regard to dividend and capital distribution, but no voting rights..

GALLDOC POWER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
10
Operating lease commitments
As lessee

The operating leases represent leases of property to third parties. The leases are negotiated over terms of one year and rentals are fixed for one year.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
49,000
97,000
As lessor - operating leases

The operating leases represent leases of property to third parties. The leases are negotiated over terms of 10 years and rentals are fixed for 5 years after which they are subject to review. The lease include s a break clause after 5 years.

2025
2024
Future amounts receivable under operating leases:
£
£
Total commitments
370,959
470,833
11
Directors' transactions

Loans have been granted by the company to its directors as follows:

Loans
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director's loan
2.25
(12,503)
1,662,500
(1,660,625)
(10,628)
(12,503)
1,662,500
(1,660,625)
(10,628)

The maximum amount outstanding during the year was £1,303,745. Interest at the rate of 2.25% amounting to £8,175.

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