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REGISTERED NUMBER: 07418509 (Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

GATE 2 PLATE FARMSHOP LTD

GATE 2 PLATE FARMSHOP LTD (REGISTERED NUMBER: 07418509)

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


GATE 2 PLATE FARMSHOP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Mrs A V Llewellin
Mrs V James





SECRETARY: The William Marshall Partnership Limited





REGISTERED OFFICE: Park View House
Ropewalk
Fishguard
Pembrokeshire
SA65 9BT





REGISTERED NUMBER: 07418509 (Wales)





ACCOUNTANTS: William Marshall & Co
Financial Accountants
Park View House
Ropewalk
Fishguard
Pembrokeshire
SA65 9BT

GATE 2 PLATE FARMSHOP LTD (REGISTERED NUMBER: 07418509)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,515 13,869

CURRENT ASSETS
Stocks 5 13,000 12,500
Debtors 6 2,671 7,020
Cash at bank and in hand 41,628 105,241
57,299 124,761
CREDITORS
Amounts falling due within one year 7 84,790 94,094
NET CURRENT (LIABILITIES)/ASSETS (27,491 ) 30,667
TOTAL ASSETS LESS CURRENT
LIABILITIES

(13,976

)

44,536

CREDITORS
Amounts falling due after more than one year 8 - 20,000
NET (LIABILITIES)/ASSETS (13,976 ) 24,536

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 10 (14,176 ) 24,336
SHAREHOLDERS' FUNDS (13,976 ) 24,536

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 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.

GATE 2 PLATE FARMSHOP LTD (REGISTERED NUMBER: 07418509)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:




Mrs A V Llewellin - Director



Mrs V James - Director


GATE 2 PLATE FARMSHOP LTD (REGISTERED NUMBER: 07418509)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Gate 2 Plate Farmshop Ltd is a private company, limited by shares , registered in 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.
Plant and machinery - 20% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 11,710 13,934 25,644
DEPRECIATION
At 1 November 2022 - 11,775 11,775
Charge for year - 354 354
At 31 October 2023 - 12,129 12,129
NET BOOK VALUE
At 31 October 2023 11,710 1,805 13,515
At 31 October 2022 11,710 2,159 13,869

5. STOCKS
2023 2022
£    £   
Stocks 13,000 12,500

GATE 2 PLATE FARMSHOP LTD (REGISTERED NUMBER: 07418509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Tax - 3,355
VAT 2,260 1,535
Prepayments 411 334
2,671 5,224

Amounts falling due after more than one year:
Tax - 1,796

Aggregate amounts 2,671 7,020

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 39,440 64,088
Other creditors 4,123 6,074
Directors' current accounts 41,227 23,932
84,790 94,094

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Directors' loan accounts - 20,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 "A" ordinary £1.00 100 100
10 "B" Ordinary £1.00 10 10
90 "C" Ordinary £1.00 90 90
200 200

GATE 2 PLATE FARMSHOP LTD (REGISTERED NUMBER: 07418509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


10. RESERVES
Retained
earnings
£   

At 1 November 2022 24,336
Deficit for the year (38,512 )
At 31 October 2023 (14,176 )