Registered number
08163781
GATEWAY TICKETING SYSTEMS UK LIMITED
Unaudited Filleted Accounts
31 December 2023
GATEWAY TICKETING SYSTEMS UK LIMITED
Company Information
Directors
Mr M Andre
Mr J Marshall
Accountants
Key Business Consultants LLP
13 Whitchurch Lane
Edgware
HA8 6JZ
Bankers
Barclays Bank UK PLC
Registered office
The Foundry
77 Fulham Palace Road
London
W6 8AF
Registered number
08163781
GATEWAY TICKETING SYSTEMS UK LIMITED
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of GATEWAY TICKETING SYSTEMS UK LIMITED for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of GATEWAY TICKETING SYSTEMS UK LIMITED for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet 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, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Key Business Consultants LLP
Chartered Accountants
13 Whitchurch Lane
Edgware
HA8 6JZ
20 August 2024
GATEWAY TICKETING SYSTEMS UK LIMITED
Registered number: 08163781
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,891 11,118
Current assets
Debtors 4 301,563 398,019
Cash at bank and in hand 995,049 1,072,297
1,296,612 1,470,316
Creditors: amounts falling due within one year 5 (446,604) (429,498)
Net current assets 850,008 1,040,818
Total assets less current liabilities 866,899 1,051,936
Creditors: amounts falling due after more than one year 6 (572,551) (900,670)
Provisions for liabilities (3,209) -
Net assets 291,139 151,266
Capital and reserves
Called up share capital 720,000 720,000
Profit and loss account (428,861) (568,734)
Shareholder's funds 291,139 151,266
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Andre
Director
Approved by the board on 20 August 2024
GATEWAY TICKETING SYSTEMS UK LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer and office equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
1 Accounting policies (cont.)
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 8
3 Tangible fixed assets
Computer and office equipment
£
Cost
At 1 January 2023 15,599
Additions 8,569
At 31 December 2023 24,168
Depreciation
At 1 January 2023 4,481
Charge for the year 2,796
At 31 December 2023 7,277
Net book value
At 31 December 2023 16,891
At 31 December 2022 11,118
4 Debtors 2023 2022
£ £
Trade debtors 195,846 201,076
Deferred tax asset - 122,724
Other debtors 105,717 74,219
301,563 398,019
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 29,373 53,014
Taxation and social security costs 36,476 36,501
Other creditors 380,755 339,983
446,604 429,498
6 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings 572,551 900,670
7 Related party transactions
During the year, the company invoiced for services worth £105,618 (2022: £238,277) and
purchased services worth £231,446 (2022: £199,780) from Gateway Ticketing Systems Inc., its parent company incorporated in the United States of America.

At the year end, the company owed Gateway Ticketing Systems Inc. £572,551 (2022: £900,670).
8 Controlling party
The ultimate controlling party is Gateway Ticketing Systems Inc., a company incorporated in the United States of America.
9 Other information
GATEWAY TICKETING SYSTEMS UK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
The Foundry
77 Fulham Palace Road
London
W6 8AF
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