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REGISTERED NUMBER: 03819062 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Parts Gateway Limited

Parts Gateway Limited (Registered number: 03819062)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Parts Gateway Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: M Pendlebury
J N Dickinson





REGISTERED OFFICE: Unit C2 Otley Mills
Ilkley Road
Otley
Leeds
West Yorkshire
LS21 1QS





REGISTERED NUMBER: 03819062 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Parts Gateway Limited (Registered number: 03819062)

Statement of Financial Position
31 August 2023

31.8.23 31.8.22
Notes £    £   
CURRENT ASSETS
Stocks 6,125 6,125
Debtors 6 152,348 145,774
Cash at bank 77,592 98,016
236,065 249,915
CREDITORS
Amounts falling due within one year 7 (177,114 ) (156,271 )
NET CURRENT ASSETS 58,951 93,644
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,951

93,644

CREDITORS
Amounts falling due after more than one
year

8

(56,736

)

(91,969

)
NET ASSETS 2,215 1,675

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,215 675
SHAREHOLDERS' FUNDS 2,215 1,675

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

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

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 Statement of Income and Retained Earnings has not been delivered.

Parts Gateway Limited (Registered number: 03819062)

Statement of Financial Position - continued
31 August 2023



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 Pendlebury - Director


Parts Gateway Limited (Registered number: 03819062)

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

1. STATUTORY INFORMATION

Parts Gateway 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

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 - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Parts Gateway Limited (Registered number: 03819062)

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

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 19,584 1,149 20,733
DEPRECIATION
At 1 September 2022
and 31 August 2023 19,584 1,149 20,733
NET BOOK VALUE
At 31 August 2023 - - -
At 31 August 2022 - - -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 47,058 45,399
Directors' current accounts 105,290 100,375
152,348 145,774

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 35,233 32,219
Tax 71,129 65,282
Social security and other taxes 14,002 15,770
Other creditors 54,000 40,500
Accrued expenses 2,750 2,500
177,114 156,271

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans - 1-2 years 38,788 33,037
Bank loans - 2-5 years 17,948 58,932
56,736 91,969

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Loan 64,469 86,688

Parts Gateway Limited (Registered number: 03819062)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
M Pendlebury
Balance outstanding at start of year 44,589 27,999
Amounts advanced 50,107 74,073
Amounts repaid (47,971 ) (57,483 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,725 44,589

J N Dickinson
Balance outstanding at start of year 55,786 52,950
Amounts advanced 50,125 58,108
Amounts repaid (47,346 ) (55,272 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 58,565 55,786

11. ULTIMATE CONTROLLING PARTY

The directors being shareholders control the company.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Parts Gateway Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Parts Gateway Limited for the year ended 31 August 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Parts Gateway Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Parts Gateway Limited and state those matters that we have agreed to state to the Board of Directors of Parts Gateway Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parts Gateway Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Parts Gateway Limited 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 profit of Parts Gateway Limited. You consider that Parts Gateway Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Parts Gateway Limited. 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.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


31 January 2024