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Registered number: 11827864
Galea Development Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2026
D S Burge and Co Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11827864
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 11,234
- 11,234
CURRENT ASSETS
Cash at bank and in hand 11 735
11 735
Creditors: Amounts Falling Due Within One Year 5 (10,653 ) (6,924 )
NET CURRENT ASSETS (LIABILITIES) (10,642 ) (6,189 )
TOTAL ASSETS LESS CURRENT LIABILITIES (10,642 ) 5,045
Creditors: Amounts Falling Due After More Than One Year 6 - (21,394 )
NET LIABILITIES (10,642 ) (16,349 )
CAPITAL AND RESERVES
Called up share capital 8 200 200
Profit and Loss Account (10,842 ) (16,549 )
SHAREHOLDERS' FUNDS (10,642) (16,349)
Page 1
Page 2
For the year ending 28 February 2026 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 Andrew Galea
Director
30/10/2026
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Galea Development Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11827864 . The registered office is D S Burge And Co Ltd, The Courtyard, 7 Francis Grove, London, SW19 4DW.
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. 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:
2.3. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2025: 1)
1 1
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 March 2025 28,085
Disposals (28,085 )
As at 28 February 2026 -
Depreciation
As at 1 March 2025 16,851
Disposals (16,851 )
As at 28 February 2026 -
Net Book Value
As at 28 February 2026 -
As at 1 March 2025 11,234
Page 3
Page 4
5. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Other taxes and social security 79 79
Other creditors 1,370 1,330
Director's loan account 9,204 5,515
10,653 6,924
6. Creditors: Amounts Falling Due After More Than One Year
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts - 21,394
7. Obligations Under Finance Leases and Hire Purchase
2026 2025
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years - 21,394
8. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 200 200
Page 4