Company registration number: 07438290
Unaudited financial statements
for the year ended 30 November 2023
for
MODELGATE LIMITED
Pages for filing with the Registrar
Company registration number: 07438290
MODELGATE LIMITED
Balance sheet
as at 30 November 2023
2023 2022
Note £ £ £ £
Fixed assets
Investment property 4 580,000 580,000
580,000 580,000
Current assets
Debtors 363,024 363,025
Cash at bank and in hand 1 306
363,025 363,331
Creditors: amounts falling due within
one year
(335,030) (334,500)
Net current assets 27,995 28,831
Total assets less current liabilities 607,995 608,831
NET ASSETS 607,995 608,831
Capital and reserves
Called up share capital 100 100
Profit and loss account 607,895 608,731
TOTAL EQUITY 607,995 608,831
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 November 2023.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 07438290
MODELGATE LIMITED
Balance sheet - continued
as at 30 November 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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr R Thompson, Director
8 August 2024
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MODELGATE LIMITED
Notes to the financial statements
for the year ended 30 November 2023
1 Company information
The company is registered in England and Wales. Its registered number is 07438290. The company is limited by shares. Its registered office is I O N, Unit 1, London, London, NW10 6AW.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Investment property
Investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
3 Average number of employees
During the year the average number of employees was Nil (2022 - Nil).
4 Investment property
£
Valuation
At 1 December 2022 580,000
At 30 November 2023 580,000
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