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REGISTERED NUMBER: 01306816 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

FIRGATE LIMITED

FIRGATE LIMITED (Registered number: 01306816)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIRGATE LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M Bodner
S Bodner
Mrs F Bodner
Mrs M Bodner





REGISTERED OFFICE: 45 Grasmere Street
Gateshead
Tyne and Wear
NE8 1TS





REGISTERED NUMBER: 01306816 (England and Wales)





ACCOUNTANTS: Rosenthal & Co
Chartered Accountants
74 Whitehall Road
Gateshead
Tyne and Wear
NE8 4ET

FIRGATE LIMITED (Registered number: 01306816)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 90,219 84,649

CURRENT ASSETS
Stocks 1,200,865 1,621,217
Debtors 5 5,092,362 5,169,730
Cash at bank 1,582,055 1,543,180
7,875,282 8,334,127
CREDITORS
Amounts falling due within one year 6 1,600,995 2,416,420
NET CURRENT ASSETS 6,274,287 5,917,707
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,364,506

6,002,356

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 6,364,502 6,002,352
SHAREHOLDERS' FUNDS 6,364,506 6,002,356

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 directors acknowledge their 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.

FIRGATE LIMITED (Registered number: 01306816)

Balance Sheet - continued
31 March 2023


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 Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





M Bodner - Director


FIRGATE LIMITED (Registered number: 01306816)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

FIRGATE 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.

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.

Judgements and key sources of estimation uncertainty
There are no judgements,estimates or assumptions that affect the amounts reported.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

FIRGATE LIMITED (Registered number: 01306816)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2022 - 39 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 215,752
Additions 27,936
At 31 March 2023 243,688
DEPRECIATION
At 1 April 2022 131,103
Charge for year 22,366
At 31 March 2023 153,469
NET BOOK VALUE
At 31 March 2023 90,219
At 31 March 2022 84,649

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 2,804,608 2,962,202
Other debtors 2,287,754 2,207,528
5,092,362 5,169,730

FIRGATE LIMITED (Registered number: 01306816)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 207,684 281,161
Trade creditors 995,989 1,853,348
Taxation and social security 259,724 72,642
Other creditors 137,598 209,269
1,600,995 2,416,420