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REGISTERED NUMBER: 07864535 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Bills Gates (UK) Limited

Bills Gates (UK) Limited (Registered number: 07864535)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Bills Gates (UK) Limited

Company Information
for the year ended 31 March 2023







DIRECTOR: W C Burton





REGISTERED OFFICE: 120 Cockfosters Road
BARNET
EN4 0DZ





REGISTERED NUMBER: 07864535 (England and Wales)





ACCOUNTANTS: G & A Partners LLP
Chartered Accountants
120 Cockfosters Road
Barnet
EN4 0DZ

Bills Gates (UK) Limited (Registered number: 07864535)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 36,959 50,784
36,959 50,784

CURRENT ASSETS
Stocks 13,130 14,500
Debtors 6 72,428 18,802
Cash at bank 164,617 171,436
250,175 204,738
CREDITORS
Amounts falling due within one year 7 69,428 62,489
NET CURRENT ASSETS 180,747 142,249
TOTAL ASSETS LESS CURRENT
LIABILITIES

217,706

193,033

CREDITORS
Amounts falling due after more than one
year

8

(27,102

)

(13,147

)

PROVISIONS FOR LIABILITIES 9 (8,714 ) (9,649 )
NET ASSETS 181,890 170,237

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 181,790 170,137
SHAREHOLDERS' FUNDS 181,890 170,237

Bills Gates (UK) Limited (Registered number: 07864535)

Statement of Financial Position - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2023 and were signed by:





W C Burton - Director


Bills Gates (UK) Limited (Registered number: 07864535)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Bills Gates (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Bills Gates (UK) Limited (Registered number: 07864535)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 12,500
AMORTISATION
At 1 April 2022
and 31 March 2023 12,500
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Bills Gates (UK) Limited (Registered number: 07864535)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 94,817 6,534 101,351
Additions 24,915 1,623 26,538
Disposals (34,953 ) - (34,953 )
At 31 March 2023 84,779 8,157 92,936
DEPRECIATION
At 1 April 2022 45,997 4,570 50,567
Charge for year 6,335 638 6,973
Eliminated on disposal (1,563 ) - (1,563 )
At 31 March 2023 50,769 5,208 55,977
NET BOOK VALUE
At 31 March 2023 34,010 2,949 36,959
At 31 March 2022 48,820 1,964 50,784

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2022 29,903
Additions 24,915
Disposals (9,953 )
At 31 March 2023 44,865
DEPRECIATION
At 1 April 2022 14,482
Charge for year 3,844
At 31 March 2023 18,326
NET BOOK VALUE
At 31 March 2023 26,539
At 31 March 2022 15,421

Bills Gates (UK) Limited (Registered number: 07864535)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 37,085 14,165
Other debtors 35,343 4,637
72,428 18,802

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 5,356 3,604
Trade creditors 29,467 39,749
Taxation and social security 31,155 14,603
Other creditors 3,450 4,533
69,428 62,489

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 27,102 13,147

9. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax
Accelerated capital allowances 8,714 9,649

Deferred
tax
£   
Balance at 1 April 2022 9,649
Provided during year (935 )
Balance at 31 March 2023 8,714