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Registered number: 04656526
THAMES GATEWAY BUSINESS SERVICES LIMITED
Unaudited Financial Statements
For The Year Ended 30 June 2024
Ian Watt Accounting Services Ltd
48 Bardsway Avenue
BLACKPOOL
LANCASHIRE
FY3 8JR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04656526
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,070 1,427
1,070 1,427
CURRENT ASSETS
Debtors 5 8,671 13,998
8,671 13,998
Creditors: Amounts Falling Due Within One Year 6 (9,524 ) (14,648 )
NET CURRENT ASSETS (LIABILITIES) (853 ) (650 )
TOTAL ASSETS LESS CURRENT LIABILITIES 217 777
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (193 ) (257 )
NET ASSETS 24 520
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 22 518
SHAREHOLDERS' FUNDS 24 520
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr ROLAND BEAUMONT
Director
3rd September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
THAMES GATEWAY BUSINESS SERVICES LIMITED Registered number 04656526 is a limited by shares company incorporated in England & Wales. The Registered Office is 6 ROCHESTER COURT, ANTHONY'S WAY, ROCHESTER, KENT, ME2 4NW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 July 2023 4,183
As at 30 June 2024 4,183
Depreciation
As at 1 July 2023 2,756
Provided during the period 357
As at 30 June 2024 3,113
Net Book Value
As at 30 June 2024 1,070
As at 1 July 2023 1,427
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 125 5,587
Directors' loan accounts 8,546 8,411
8,671 13,998
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 175 404
Bank loans and overdrafts 6,338 6,466
Corporation tax 1,898 2,991
Other taxes and social security 3 14
Company credit card 504 643
Accruals and deferred income 606 4,130
9,524 14,648
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 193 257
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8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 July 2023 257 257
Deferred taxation (64 ) (64 )
Balance at 30 June 2024 193 193
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr ROLAND BEAUMONT 4,211 35,427 35,139 - 4,499
Mrs KATHERINE BEAUMONT 4,200 4,047 4,200 - 4,047
Dividends paid to directors
2024 2023
£ £
Mr ROLAND BEAUMONT 1,000 4,000
Mrs KATHERINE BEAUMONT 1,000 4,000
11. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 2,000 8,000
12. Related Party Transactions
Information Technology Support Service LtdDirector in commonSales in the year amounting to £45,553 (2023 - £48,750) and purchases of £1,200 (2023 - £1,000l). The balance at 30th June 2024 was £nil (20232 - £nil)

Information Technology Support Service Ltd

Director in common

Sales in the year amounting to £45,553 (2023 - £48,750) and purchases of £1,200 (2023 - £1,000l). The balance at 30th June 2024 was £nil (20232 - £nil)

From February 2023, the company rented office space from Informtaion Teachnology Support Service Ltd at £200 per month. This rental ceased in Novmerber 2023
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