Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3122false2022-04-01trueNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05408521 2022-04-01 2023-03-31 05408521 2021-04-01 2022-03-31 05408521 2023-03-31 05408521 2022-03-31 05408521 c:Director1 2022-04-01 2023-03-31 05408521 d:OfficeEquipment 2022-04-01 2023-03-31 05408521 d:OfficeEquipment 2023-03-31 05408521 d:OfficeEquipment 2022-03-31 05408521 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05408521 d:CurrentFinancialInstruments 2023-03-31 05408521 d:CurrentFinancialInstruments 2022-03-31 05408521 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05408521 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 05408521 d:ShareCapital 2023-03-31 05408521 d:ShareCapital 2022-03-31 05408521 d:RetainedEarningsAccumulatedLosses 2023-03-31 05408521 d:RetainedEarningsAccumulatedLosses 2022-03-31 05408521 c:OrdinaryShareClass1 2022-04-01 2023-03-31 05408521 c:OrdinaryShareClass1 2023-03-31 05408521 c:OrdinaryShareClass1 2022-03-31 05408521 c:FRS102 2022-04-01 2023-03-31 05408521 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 05408521 c:FullAccounts 2022-04-01 2023-03-31 05408521 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05408521









CHRIS GATES TRADING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
CHRIS GATES TRADING LIMITED
REGISTERED NUMBER: 05408521

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,721
8,658

Current assets
  

Debtors: amounts falling due within one year
 5 
4,010
4,010

Cash at bank and in hand
  
3,256,172
3,235,417

  
3,260,182
3,239,427

Creditors: amounts falling due within one year
 6 
(3,285,934)
(3,248,197)

Net current liabilities
  
 
 
(25,752)
 
 
(8,770)

  

Net liabilities
  
(11,031)
(112)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
(11,032)
(113)

  
(11,031)
(112)


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Dr B E Gates
Director

Date: 11 November 2023

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
CHRIS GATES TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Chris Gates Trading Limited ("the company") is a private company limited by shares, incorporated in England and Wales. Its registered number is 05408521. Its registered office is Leytonstone House, Leytonstone, London, E11 1GA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis.

 
2.3

Revenue

Revenue 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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
CHRIS GATES TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following annual bases:

Office equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

Page 3

 
CHRIS GATES TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.10

Taxation

Tax is recognised in the Statement of income and retained earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
CHRIS GATES TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Office equipment

£



Cost


At 1 April 2022
73,418


Additions
9,267



At 31 March 2023

82,685



Depreciation


At 1 April 2022
64,760


Charge for the year on owned assets
3,204



At 31 March 2023

67,964



Net book value



At 31 March 2023
14,721



At 31 March 2022
8,658


5.


Debtors

2023
2022
£
£


Other debtors
4,010
4,010



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
3,282,934
3,245,197

Accruals and deferred income
3,000
3,000

3,285,934
3,248,197


Page 5

 
CHRIS GATES TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1
1
1



8.


Related party transactions

At the balance sheet date, the company owed £3,282,934 (2022 - £3,245,197) to its ultimate controlling party.

 
Page 6