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Registered number: 11687646














EUROPEAN GATEWAY LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 NOVEMBER 2023

 
EUROPEAN GATEWAY LIMITED
REGISTERED NUMBER: 11687646

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note

  

Current assets
  

Debtors: amounts falling due within one year
 4 
100
100

Cash at bank and in hand
 5 
6,261
7,308

  
6,361
7,408

Creditors: amounts falling due within one year
 6 
(66,478)
(66,606)

Net current liabilities
  
 
 
(60,117)
 
 
(59,198)

  

Net liabilities
  
£(60,117)
£(59,198)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(60,217)
(59,298)

  
£(60,117)
£(59,198)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2024.




Mr W Ray
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
EUROPEAN GATEWAY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

European Gateway Limited is a private company incorporated in England and Wales. 
The company is limited by shares and the address of the registered office is Henwood House, Henwood, Ashford, Kent, TN24 8DH. 
The principal place of business is Charles Anthony House, Manston Road, Margate, Kent, CT9 4JW.
The registered number of the company is 11687646.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Page 2

 
EUROPEAN GATEWAY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.5
Financial instruments (continued)

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 -2).


4.


Debtors

2023
2022


Other debtors
100
100

£100
£100



5.


Cash and cash equivalents

2023
2022

Cash at bank and in hand
6,261
7,308

£6,261
£7,308


Page 3

 
EUROPEAN GATEWAY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022

Other creditors
65,723
65,723

Accruals and deferred income
755
883

£66,478
£66,606



7.


Financial instruments

2023
2022

Financial assets


Financial assets measured at fair value through profit or loss
£6,261
£7,308




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


8.


Share capital

2023
2022
Allotted, called up and fully paid



30 (2022 -30) ordinary shares of £1.00 each
30
30
30 (2022 -30) ordinary A shares of £1.00 each
30
30
30 (2022 -30) ordinary B shares of £1.00 each
30
30
10 (2022 -10) ordinary C shares of £1.00 each
10
10

£100

£100



Page 4