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Company Registration No. 10747687 (England and Wales)
Shortgate Limited Unaudited Financial Statements for the year ended 31 May 2023
Shortgate Limited Unaudited Financial Statements Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
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Shortgate Limited Company Information for the year ended 31 May 2023
Director
Mrs Ayesha Nasim
Company Number
10747687 (England and Wales)
Registered Office
1/ 102 NETHERWOOD ROAD LONDON W14 0BQ England, UK
Accountants
Mission Accountants, Suite S7 Rays House North Circular Road London NW10 7XP
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Accountants' report on the preparation of the unaudited statutory statements of Shortgate Limited (The Company) for the year ended 31 May 2023
In order to assist you as the sole director to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the year ended 31 May 2023 which comprises of the profit and loss account, the balance sheet, and explanatory notes from the company's accounting records and from information and explanations which you have provided us with.
As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to you as the sole director of the company, in accordance with the terms of our letter of engagement dated 16 August 2022. Our work has been undertaken solely to prepare for your approval the financial statements of the company, and state those matters that we have agreed to state to you, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and you as the sole director for our work or for this report.
It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and financial performance of the company. You consider that the company is exempt from the statutory audit requirement for the year ended 31 May 2023.
We have not been instructed to carry out any assurance service on the financial statements of the company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Mission Accountants, Financial Accountants Suite S7 Rays House North Circular Road London NW10 7XP 20 September 2023
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Shortgate Limited Statement of financial position as at 31 May 2023
2023
2022
Notes
£
£
Fixed assets
Tangible assets
4
325,000
325,000
Current assets
Cash at bank and in hand
3,694
3,489
Creditors: amounts falling due within one year
5
(500)
(1,094)
Net current assets
3,194
2,395
Total assets less current liabilities
328,194
327,395
Creditors: amounts falling due after more than one year
6
(369,120)
(377,043)
Net liabilities
(40,926)
(49,648)
Capital and reserves
Called up share capital
100
100
Profit and loss account
(41,026)
(49,748)
Shareholders' funds
(40,926)
(49,648)
For the year ending 31 May 2023 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 September 2023 and were signed on its behalf by
Mrs Ayesha Nasim Director Company Registration No. 10747687
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Shortgate Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Shortgate Limited is a private company, limited by shares, registered in England and Wales, registration number 10747687. The registered office is 1/ 102 NETHERWOOD ROAD, LONDON, W14 0BQ, England, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
£
Cost or valuation
At cost
At 1 June 2022
325,000
At 31 May 2023
325,000
Depreciation
At 31 May 2023
-
Net book value
At 31 May 2023
325,000
At 31 May 2022
325,000
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
594
Accruals
500
500
500
1,094
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Shortgate Limited Notes to the Accounts for the year ended 31 May 2023
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
161,258
161,258
Taxes and social security
-
(100)
Loans from directors
207,862
215,885
369,120
377,043
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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