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REGISTERED NUMBER: 04199960 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

RETAIL GATEWAY LIMITED

RETAIL GATEWAY LIMITED (REGISTERED NUMBER: 04199960)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


RETAIL GATEWAY LIMITED

Company Information
for the year ended 31 December 2023







Director: Mr F O Dawood





Secretary: Mrs N Dawood





Registered office: Unit 3
Redwing Court Business Centre
Ashton Road
Romford
Essex
RM3 8QQ





Registered number: 04199960 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

RETAIL GATEWAY LIMITED (REGISTERED NUMBER: 04199960)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 2,302 3,305

Current assets
Debtors 5 119,686 190,195
Cash at bank and in hand 8,399 4,185
128,085 194,380
Creditors
Amounts falling due within one year 6 449,979 495,734
Net current liabilities (321,894 ) (301,354 )
Total assets less current liabilities (319,592 ) (298,049 )

Creditors
Amounts falling due after more than one
year

7

16,667

26,667
Net liabilities (336,259 ) (324,716 )

Capital and reserves
Called up share capital 8 100 100
Retained earnings 9 (336,359 ) (324,816 )
Shareholders' funds (336,259 ) (324,716 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 26 September 2024 and were signed by:





Mr F O Dawood - Director


RETAIL GATEWAY LIMITED (REGISTERED NUMBER: 04199960)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Retail Gateway Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 historical cost convention.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

RETAIL GATEWAY LIMITED (REGISTERED NUMBER: 04199960)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Going concern
The financial statements have been prepared on a going concern basis. The company continues to be supported by the director and its parent company.

3. Employees and directors

The average number of employees during the year was 3 (2022 - 3 ) .

4. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 January 2023
and 31 December 2023 392,936 8,850 77,720 479,506
Depreciation
At 1 January 2023 390,336 8,850 77,015 476,201
Charge for year 768 - 235 1,003
At 31 December 2023 391,104 8,850 77,250 477,204
Net book value
At 31 December 2023 1,832 - 470 2,302
At 31 December 2022 2,600 - 705 3,305

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 59,364 64,541
Other debtors 60,322 125,654
119,686 190,195

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 21,949 24,510
Trade creditors 33,310 43,889
Taxation and social security 1,741 5,061
Other creditors 392,979 422,274
449,979 495,734

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 16,667 26,667

RETAIL GATEWAY LIMITED (REGISTERED NUMBER: 04199960)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. Reserves
Retained
earnings
£   

At 1 January 2023 (324,816 )
Deficit for the year (11,543 )
At 31 December 2023 (336,359 )