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REGISTERED NUMBER: 12047584 (England and Wales)















Stop Gap Market Limited

Unaudited Financial Statements

for the Year Ended 30 September 2023






Stop Gap Market Limited (Registered number: 12047584)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Stop Gap Market Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: Mr T Osborne



REGISTERED OFFICE: 3 Celtic House
Harbour Head
Porthleven
Helston
Cornwall
TR13 9FF



REGISTERED NUMBER: 12047584 (England and Wales)



ACCOUNTANTS: Atkins Ferrie Chartered Accountants
Lakeside Offices
The Old Cattle Market
Coronation Park
Helston
Cornwall
TR13 0SR



BANKERS: National Westminster Bank plc
29 Meneage Street
Helston
Cornwall
TR13 8AZ

Stop Gap Market Limited (Registered number: 12047584)

Balance Sheet
30 September 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - 791
Tangible assets 5 - 27,171
- 27,962

CURRENT ASSETS
Debtors 6 792 -
Cash at bank 745 14,226
1,537 14,226
CREDITORS
Amounts falling due within one year 7 987 10,525
NET CURRENT ASSETS 550 3,701
TOTAL ASSETS LESS CURRENT LIABILITIES 550 31,663

PROVISIONS FOR LIABILITIES - 2,177
NET ASSETS 550 29,486

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 549 29,485
550 29,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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.

The financial statements were approved by the director and authorised for issue on 8 March 2024 and were signed by:





Mr T Osborne - Director


Stop Gap Market Limited (Registered number: 12047584)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Stop Gap Market 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The company ceased to trade on 23rd September 2023 and the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company's assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date. No provision has been made for the future costs of terminating the business such as costs of winding down the business (e.g. liquidation fees) unless such costs were committed at the reporting date.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised on a 25% reducing balance basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

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 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.

Going concern
The company ceased to trade on 23 September 2023 and the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company's assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date. No provision has been made for the future costs of terminating the business such as costs of winding down the business (e.g. liquidation fees) unless such costs were committed at the reporting date such as the costs of redundancies as a contractive obligation was created by the reporting date.



Stop Gap Market Limited (Registered number: 12047584)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 October 2022 1,500
Disposals (1,500 )
At 30 September 2023 -
AMORTISATION
At 1 October 2022 709
Eliminated on disposal (709 )
At 30 September 2023 -
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 791

5. TANGIBLE FIXED ASSETS
Fixtures
Improvements and
to property fittings Totals
£ £ £
COST
At 1 October 2022 45,260 6,189 51,449
Disposals (45,260 ) (6,189 ) (51,449 )
At 30 September 2023 - - -
DEPRECIATION
At 1 October 2022 20,503 3,775 24,278
Eliminated on disposal (20,503 ) (3,775 ) (24,278 )
At 30 September 2023 - - -
NET BOOK VALUE
At 30 September 2023 - - -
At 30 September 2022 24,757 2,414 27,171

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 792 -

Stop Gap Market Limited (Registered number: 12047584)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors - 6,393
Taxation and social security - 3,085
Other creditors 987 1,047
987 10,525