Registered number
07074320
Gateway Environmental Services Limited
Unaudited Filleted Accounts
30 November 2023
Gateway Environmental Services Limited
Registered number: 07074320
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 179,343 57,556
Investments 4 250 250
179,593 57,806
Current assets
Debtors 5 539,693 503,357
Cash at bank and in hand 712,660 552,249
1,252,353 1,055,606
Creditors: amounts falling due within one year 6 (384,458) (260,567)
Net current assets 867,895 795,039
Total assets less current liabilities 1,047,488 852,845
Creditors: amounts falling due after more than one year 7 (48,488) (66,667)
Provisions for liabilities (20,690) (3,653)
Net assets 978,310 782,525
Capital and reserves
Called up share capital 100 100
Profit and loss account 978,210 782,425
Shareholders' funds 978,310 782,525
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T. Davis
Director
Approved by the board on 29 February 2024
Gateway Environmental Services Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 25% on reducing balance
Motor vehicles 25% on reducing balance
Plant and machinery 25% on reducing balance
Fixtures and fittings 25% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 21 16
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 158,354
Additions 181,567
At 30 November 2023 339,921
Depreciation
At 1 December 2022 100,798
Charge for the year 59,780
At 30 November 2023 160,578
Net book value
At 30 November 2023 179,343
At 30 November 2022 57,556
4 Investments
Other
investments
£
Cost
At 1 December 2022 250
At 30 November 2023 250
Details of investment holdings are as follows:
Company Activity % Ownership
Vantage Yorkshire 1 Ltd Dormant 51%
(Previously:Vantage Industrial Cleaning South East 1 Ltd)
Vantage Commercial Cleaning Limited Dormant 100%
Vantage Industrial Cleaning East Midlands Ltd Industrial Cleaning 25%
Vantage Industrial Cleaning South East 3 Limited Industrial Cleaning 100%
5 Debtors 2023 2022
£ £
Trade debtors 492,387 415,628
Other debtors 47,306 87,729
539,693 503,357
Amounts due after more than one year included above - 40,000
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 154,940 88,932
Taxation and social security costs 117,156 92,265
Other creditors 112,362 79,370
384,458 260,567
7 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 48,488 66,667
8 Other information
Gateway Environmental Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
21 Timber Lane
Caterham
Surrey
CR3 6LZ
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