Registered number
10922768
White Gateaway Ltd
Filleted Accounts
30 November 2023
White Gateaway Ltd
Registered number: 10922768
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 466 583
Current assets
Debtors 4 112,572 96,585
Barclaycard (1,595) (1,627)
Cash at bank and in hand 116 2,047
111,093 97,005
Creditors: amounts falling due within one year 5 (90,890) (59,330)
Net current assets 20,203 37,675
Total assets less current liabilities 20,669 38,258
Creditors: amounts falling due after more than one year 6 (9,199) (13,695)
Net assets 11,470 24,563
Capital and reserves
Called up share capital 100 100
Profit and loss account 11,370 24,463
Shareholder's funds 11,470 24,563
The director is 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 director acknowledges his 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 Bedrettin Ekdi
Director
Approved by the board on 29 August 2024
White Gateaway Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 1,501
At 30 November 2023 1,501
Depreciation
At 1 December 2022 918
Charge for the year 117
At 30 November 2023 1,035
Net book value
At 30 November 2023 466
At 30 November 2022 583
4 Debtors 2023 2022
£ £
Net VAT due 5,227 3,540
Bedrettin Ekdi - 1,400
Loan - 3,500
Trade debtors 107,345 88,145
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,200 9,000
Taxation and social security costs 36,629 35,893
Other creditors 44,061 14,437
90,890 59,330
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 9,199 13,695
7 Other information
White Gateaway Ltd is a private company limited by shares and incorporated in England. Its registered office is:
565 Green Lanes
Haringey
London
N8 0RL
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