Galtres Estates Ltd
Galtres Estates Ltd
Registered number: 12784224
Unaudited Financial Statements
For The Year Ended
31 March 2022
Root Accountants Ltd
Galtres Estates Ltd
Unaudited Financial Statements
For The Year Ended
31 March 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
Page 1
Galtres Estates Ltd
Balance Sheet
As at
31 March 2022
Balance Sheet
Registered number:
12784224
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
| 31 March 2022 | 31 March 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Work in Progress | 3 |
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| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (13,209) | (1,688) | |||
Page 1
Page 2
Galtres Estates Ltd
Balance Sheet (continued)
As at
31 March 2022
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
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Director
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Galtres Estates Ltd
Notes to the Financial Statements
For The Year Ended
31 March 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 4 (2021: 4)
3.
Work in Progress
| 31 March 2022 | 31 March 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Property for development | 807,599 | 677,381 | |
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4.
Debtors
| 31 March 2022 | 31 March 2021 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| Other taxes and social security |
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5.
Creditors: Amounts Falling Due Within One Year
| 31 March 2022 | 31 March 2021 | ||
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| £ | £ | ||
| Trade creditors |
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| Accruals and deferred income |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 31 March 2022 | 31 March 2021 | ||
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| £ | £ | ||
| Bank loans |
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| Directors loan account |
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Page 3
Page 4
Galtres Estates Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2022
7.
Share Capital
| 31 March 2022 | 31 March 2021 | ||
|---|---|---|---|
| Allotted, Called up and fully paid |
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8.
Post Balance Sheet Events
The company has purchased a property for development and this is included in Work in Progress. A loan has been secured, which will be drawn down post year end, for up to £1.3 million, to faciliate the development.
9.
General Information
Galtres Estates Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
12784224
. The registered office is Field House, Providence Farm, Low Crankley, York, YO61 3NY.
Page 4