Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr N P Drayton 23/05/2002 Mr D R Moses 27/02/2002 15 August 2024 The principal activity of the Company during the financial year was the supply of electronic imaging. 04383040 2023-12-31 04383040 bus:Director1 2023-12-31 04383040 bus:Director2 2023-12-31 04383040 2022-12-31 04383040 core:CurrentFinancialInstruments 2023-12-31 04383040 core:CurrentFinancialInstruments 2022-12-31 04383040 core:Non-currentFinancialInstruments 2023-12-31 04383040 core:Non-currentFinancialInstruments 2022-12-31 04383040 core:ShareCapital 2023-12-31 04383040 core:ShareCapital 2022-12-31 04383040 core:CapitalRedemptionReserve 2023-12-31 04383040 core:CapitalRedemptionReserve 2022-12-31 04383040 core:RetainedEarningsAccumulatedLosses 2023-12-31 04383040 core:RetainedEarningsAccumulatedLosses 2022-12-31 04383040 core:Goodwill 2022-12-31 04383040 core:Goodwill 2023-12-31 04383040 core:LeaseholdImprovements 2022-12-31 04383040 core:Vehicles 2022-12-31 04383040 core:FurnitureFittings 2022-12-31 04383040 core:OfficeEquipment 2022-12-31 04383040 core:LeaseholdImprovements 2023-12-31 04383040 core:Vehicles 2023-12-31 04383040 core:FurnitureFittings 2023-12-31 04383040 core:OfficeEquipment 2023-12-31 04383040 bus:OrdinaryShareClass1 2023-12-31 04383040 2023-01-01 2023-12-31 04383040 bus:FilletedAccounts 2023-01-01 2023-12-31 04383040 bus:SmallEntities 2023-01-01 2023-12-31 04383040 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04383040 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04383040 bus:Director1 2023-01-01 2023-12-31 04383040 bus:Director2 2023-01-01 2023-12-31 04383040 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 04383040 core:LeaseholdImprovements core:TopRangeValue 2023-01-01 2023-12-31 04383040 core:Vehicles core:TopRangeValue 2023-01-01 2023-12-31 04383040 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 04383040 core:OfficeEquipment core:BottomRangeValue 2023-01-01 2023-12-31 04383040 core:OfficeEquipment core:TopRangeValue 2023-01-01 2023-12-31 04383040 2022-01-01 2022-12-31 04383040 core:LeaseholdImprovements 2023-01-01 2023-12-31 04383040 core:Vehicles 2023-01-01 2023-12-31 04383040 core:FurnitureFittings 2023-01-01 2023-12-31 04383040 core:OfficeEquipment 2023-01-01 2023-12-31 04383040 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 04383040 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 04383040 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04383040 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04383040 (England and Wales)

GATEWAY BUREAU SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

GATEWAY BUREAU SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

GATEWAY BUREAU SERVICES LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
GATEWAY BUREAU SERVICES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr N P Drayton
Mr D R Moses
SECRETARY Ms W A Moses
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 04383040 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
GATEWAY BUREAU SERVICES LIMITED

BALANCE SHEET

As at 31 December 2023
GATEWAY BUREAU SERVICES LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 181,938 246,246
181,938 246,246
Current assets
Stocks 12,000 16,000
Debtors 5 405,651 516,940
Cash at bank and in hand 57,238 85,574
474,889 618,514
Creditors: amounts falling due within one year 6 ( 191,165) ( 240,933)
Net current assets 283,724 377,581
Total assets less current liabilities 465,662 623,827
Creditors: amounts falling due after more than one year 7 ( 28,926) ( 86,586)
Provision for liabilities 0 ( 8,000)
Net assets 436,736 529,241
Capital and reserves
Called-up share capital 8 145 145
Capital redemption reserve 59,855 59,855
Profit and loss account 376,736 469,241
Total shareholders' funds 436,736 529,241

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Gateway Bureau Services Limited (registered number: 04383040) were approved and authorised for issue by the Board of Directors on 15 August 2024. They were signed on its behalf by:

Mr N P Drayton
Director
GATEWAY BUREAU SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
GATEWAY BUREAU SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gateway Bureau Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office is
Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom

The principal place of business is:
Unit 11-12
Northern Way
Cropmead
Crewkerne
Somerset
TA18 7HJ

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS 102.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The company has made an operational loss in the year to 31 December 2023. Whilst the balance sheet is still positive and the company retains significant cash balances, the directors are continuously reviewing the company’s ability to continue trading. The directors are satisfied that the company will continue to be able to operate within available facilities for the foreseeable future. Consequently, the accounts have therefore been drawn up on a going concern basis.

Turnover

Turnover is stated net of VAT and trade discounts and adjusted for work undertaken, not yet invoiced and amounts invoiced in advance. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as below. The leasehold improvements are depreciated over 10% straight line or over the life of the lease, whichever is the shortest.

Leasehold improvements 10 years straight line
Vehicles 5 years straight line
Fixtures and fittings 10 years straight line
Office equipment 3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised in other income on a systematic basis over the period in which the entity recognises the related costs for which the grant is intended to compensate. During the year, the company received the following income from the government:-

Covid Job Retention Scheme Grant - £nil (2022 - £931)

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 86 86

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 38,335 38,335
At 31 December 2023 38,335 38,335
Accumulated amortisation
At 01 January 2023 38,335 38,335
At 31 December 2023 38,335 38,335
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

4. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 January 2023 204,582 44,538 114,534 874,388 1,238,042
Additions 0 0 0 13,213 13,213
At 31 December 2023 204,582 44,538 114,534 887,601 1,251,255
Accumulated depreciation
At 01 January 2023 180,366 40,743 92,265 678,422 991,796
Charge for the financial year 2,703 1,897 3,139 69,782 77,521
At 31 December 2023 183,069 42,640 95,404 748,204 1,069,317
Net book value
At 31 December 2023 21,513 1,898 19,130 139,397 181,938
At 31 December 2022 24,216 3,795 22,269 195,966 246,246

5. Debtors

2023 2022
£ £
Trade debtors 269,779 283,327
Prepayments and accrued income 120,116 218,784
Other debtors 15,756 14,829
405,651 516,940

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,035 9,787
Trade creditors 57,449 52,972
Amounts owed to directors 11,873 494
Accruals 4,650 4,400
Other taxation and social security 85,581 114,622
Obligations under finance leases and hire purchase contracts (secured) 17,274 43,162
Other creditors 4,303 15,496
191,165 240,933

The hire purchase contracts are secured over the respective assets.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 19,062 29,097
Obligations under finance leases and hire purchase contracts (secured) 9,864 57,489
28,926 86,586

The hire purchase contracts are secured over the respective assets.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
145 Ordinary shares shares of £ 1.00 each 145 145

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 81,327 73,177