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REGISTERED NUMBER: 05590884 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

GNAT UK LIMITED

GNAT UK LIMITED (REGISTERED NUMBER: 05590884)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GNAT UK LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTOR: N A Turnbull



REGISTERED OFFICE: Unit 5 Jackson Court
Olympic Way
Richmond
North Yorkshire
DL10 4FD



REGISTERED NUMBER: 05590884 (England and Wales)



ACCOUNTANTS: Blaeford Gordon & Company Ltd
101 Galgate
Barnard Castle
Co. Durham
DL12 8ES



SOLICITORS: Gordon Brown Associates
Hadrian House
Higham Place
Newcastle
NE1 8AF

GNAT UK LIMITED (REGISTERED NUMBER: 05590884)

BALANCE SHEET
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 540,221 334,966

CURRENT ASSETS
Debtors 5 535,931 543,127
Cash at bank 1,256,615 1,114,913
1,792,546 1,658,040
CREDITORS
Amounts falling due within one year 6 539,039 379,445
NET CURRENT ASSETS 1,253,507 1,278,595
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,793,728

1,613,561

CREDITORS
Amounts falling due after more than one year 7 (70,956 ) (88,195 )

PROVISIONS FOR LIABILITIES 9 (134,501 ) (95,558 )
NET ASSETS 1,588,271 1,429,808

CAPITAL AND RESERVES
Called up share capital 1 1
Share premium 200,473 200,473
Other reserves 1 1
Retained earnings 1,387,796 1,229,333
SHAREHOLDERS' FUNDS 1,588,271 1,429,808

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

GNAT UK LIMITED (REGISTERED NUMBER: 05590884)

BALANCE SHEET - continued
31 October 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 director and authorised for issue on 31 January 2024 and were signed by:





N A Turnbull - Director


GNAT UK LIMITED (REGISTERED NUMBER: 05590884)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Gnat 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.

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.

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 - 33% on cost, 25% on cost and 20% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on 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 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.

GNAT UK LIMITED (REGISTERED NUMBER: 05590884)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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 27 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 2,344,023 8,810 105,885 8,468 2,467,186
Additions 335,149 - 30,999 - 366,148
Disposals (59,500 ) - (19,600 ) - (79,100 )
At 31 October 2023 2,619,672 8,810 117,284 8,468 2,754,234
DEPRECIATION
At 1 November 2022 2,071,977 8,810 43,635 7,798 2,132,220
Charge for year 118,940 - 24,750 461 144,151
Eliminated on disposal (59,500 ) - (2,858 ) - (62,358 )
At 31 October 2023 2,131,417 8,810 65,527 8,259 2,214,013
NET BOOK VALUE
At 31 October 2023 488,255 - 51,757 209 540,221
At 31 October 2022 272,046 - 62,250 670 334,966

GNAT UK LIMITED (REGISTERED NUMBER: 05590884)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 125,000 70,853 195,853
Additions 335,149 30,999 366,148
At 31 October 2023 460,149 101,852 562,001
DEPRECIATION
At 1 November 2022 43,916 26,570 70,486
Charge for year 64,697 23,525 88,222
At 31 October 2023 108,613 50,095 158,708
NET BOOK VALUE
At 31 October 2023 351,536 51,757 403,293
At 31 October 2022 81,084 44,283 125,367

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 395,214 429,084
VAT - 17,997
Prepayments and accrued income 140,717 96,046
535,931 543,127

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 296,605 57,242
Trade creditors 162,986 206,965
Tax - 37,777
Social security and other taxes 48,522 49,533
VAT 3,257 -
Accruals and deferred income 27,669 27,928
539,039 379,445

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 70,956 88,195

GNAT UK LIMITED (REGISTERED NUMBER: 05590884)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Hire purchase contracts 367,561 145,437

Amounts due under hire purchase contracts are secured by the assets to which they relate.

9. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 134,501 95,558

Deferred
tax
£   
Balance at 1 November 2022 95,558
Provided during year 38,943
Balance at 31 October 2023 134,501

10. ULTIMATE CONTROLLING PARTY

The controlling party of GNAT UK Limited is Mr N Turnbull.