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COMPANY REGISTRATION NUMBER: 03155688
GATEWAY HOMES UK LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
25 March 2023
GATEWAY HOMES UK LIMITED
FINANCIAL STATEMENTS
PERIOD FROM 27 MARCH 2022 TO 25 MARCH 2023
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
GATEWAY HOMES UK LIMITED
STATEMENT OF FINANCIAL POSITION
25 March 2023
25 Mar 23
26 Mar 22
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
510,675
510,734
CURRENT ASSETS
Stocks
36,002
36,002
Debtors
6
348,819
286,359
Cash at bank and in hand
49,585
3,931
---------
---------
434,406
326,292
CREDITORS: amounts falling due within one year
7
( 98,228)
( 65,986)
---------
---------
NET CURRENT ASSETS
336,178
260,306
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
846,853
771,040
CREDITORS: amounts falling due after more than one year
8
( 1,182,521)
( 1,259,135)
------------
------------
NET LIABILITIES
( 335,668)
( 488,095)
------------
------------
CAPITAL AND RESERVES
Called up share capital
6
6
Profit and loss account
( 335,674)
( 488,101)
---------
---------
SHAREHOLDERS DEFICIT
( 335,668)
( 488,095)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 25 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GATEWAY HOMES UK LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
25 March 2023
These financial statements were approved by the board of directors and authorised for issue on 13 March 2024 , and are signed on behalf of the board by:
N C Statman
Director
Company registration number: 03155688
GATEWAY HOMES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 27 MARCH 2022 TO 25 MARCH 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, LS1 4DJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements have been prepared on the going concern basis. The director considers the going concern basis to be appropriate as he has confirmed his ongoing support of the company. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents amounts receivable for property transactions and services, or rents receivable net of VAT.
Tangible assets
All fixed assets are initially recorded at cost except for other investments, which represent equity in freehold properties, are stated at valuation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% reducing balance
Other investments - Not depreciated
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. TAX ON PROFIT
Major components of tax expense
Period from
27 Mar 22 to
Year to
25 Mar 23
26 Mar 22
£
£
Current tax:
UK current tax expense
8,182
Adjustments in respect of prior periods
381
-------
----
Total current tax
8,563
-------
----
-------
----
Tax on profit
8,563
-------
----
5. TANGIBLE ASSETS
Plant and machinery
Other investments
Total
£
£
£
Cost
At 27 March 2022 and 25 March 2023
24,752
510,507
535,259
--------
---------
---------
Depreciation
At 27 March 2022
24,525
24,525
Charge for the period
59
59
--------
---------
---------
At 25 March 2023
24,584
24,584
--------
---------
---------
Carrying amount
At 25 March 2023
168
510,507
510,675
--------
---------
---------
At 26 March 2022
227
510,507
510,734
--------
---------
---------
6. DEBTORS
25 Mar 23
26 Mar 22
£
£
Other debtors
348,819
286,359
---------
---------
7. CREDITORS: amounts falling due within one year
25 Mar 23
26 Mar 22
£
£
Bank loans and overdrafts
5,484
5,424
Trade creditors
4,296
3,420
Corporation tax
8,182
14,484
Amounts due to related companies
69,690
32,106
Other creditors
10,576
10,552
--------
--------
98,228
65,986
--------
--------
The bank overdraft is secured by a debenture over the assets of the company and legal first charges over various properties.
8. CREDITORS: amounts falling due after more than one year
25 Mar 23
26 Mar 22
£
£
Bank loans and overdrafts
923,002
1,024,229
Other creditors
259,519
234,906
------------
------------
1,182,521
1,259,135
------------
------------