Company registration number SC305527 (Scotland)
GATEWAY FALKIRK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
GATEWAY FALKIRK LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 6
GATEWAY FALKIRK LIMITED
COMPANY INFORMATION
- 1 -
Directors
R G Jack
D R Spiller
J S Richards
Secretary
Addleshaw Goddard (Scotland) Secreterial Limited
Company number
SC305527
Registered office
Exchange Tower
19 Canning Street
Edinburgh
Midlothian
Scotland
EH3 8EH
Auditor
Consilium Audit Limited
169 West George Street
Glasgow
Scotland
G2 2LB
Business address
Pirnhall Business Park
200 Glasgow Road
Stirling
Scotland
FK7 8ES
Solicitors
Addleshaw Goddard (Scotland) Secretarial Limited
Exchange Tower
19 Canning Street
Edinburgh
Midlothian
Scotland
EH3 8EH
GATEWAY FALKIRK LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
62
62
Current assets
Debtors
4
16,993
8,518
Cash at bank and in hand
79,413
53,955
96,406
62,473
Creditors: amounts falling due within one year
5
(78,637)
(44,301)
Net current assets
17,769
18,172
Net assets
17,831
18,234
Capital and reserves
Called up share capital
6
9,667
9,667
Capital redemption reserve
2,083
2,083
Profit and loss reserves
6,081
6,484
Total equity
17,831
18,234

The notes on pages 3 to 6 form part of these financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 1 October 2024 and are signed on its behalf by:
D R Spiller
Director
Company Registration No. SC305527
GATEWAY FALKIRK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Gateway Falkirk Limited is a private company limited by shares incorporated in Scotland. The registered office is Addleshaw Godddard (Scotland) Secretarial Limited, Exchange Tower, 19 Canning Street, Edinburgh, Midlothian, Scotland, EH3 8EH. The company's registration number is SC305527.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

The Turnover shown in the profit and loss account represents the value of all management fees invoiced in the year, exclusive of Value Added Tax. Sales are recognised at the point at which the Company has fulfilled its contractual obligations to the customer.

1.3
Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

 

Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, according to the substance of the contractual agreement.

 

Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the outstanding balance and are amortised over the period to the due date for repayment of the financial liability.

 

An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated financial instrument.

 

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

GATEWAY FALKIRK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5

Operating lease agreements

Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged against profits on a straight line basis over the period of the lease.

1.6

Pension costs

The Company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Company.

1.7

Fixed asset investments

Investments are stated at cost less provision for any diminution of value, if such reduction is deemed to be of a permanent nature.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Total
2
2
3
Fixed asset investments
2024
2023
£
£
Other investments
62
62

Investments comprise shares in unlisted companies.

GATEWAY FALKIRK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
3
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Other investments
£
Cost or valuation
At 1 April 2023 & 31 March 2024
62
Carrying amount
At 31 March 2024
62
At 31 March 2023
62
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
3,600
Other debtors
16,993
4,918
16,993
8,518
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
15,028
68
Taxation and social security
50,088
33,670
Other creditors
13,521
10,563
78,637
44,301
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
4,166 A Ordinary of £1
4,166
4,166
5,000 B Ordinary of £1
5,000
5,000
501 C Ordinary of £1
501
501
9,667
9,667

All classes of ordinary shares rank pari passu in all respects.

GATEWAY FALKIRK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
David Holt
Statutory Auditor:
Consilium Audit Limited
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
22,111
38,949
9
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

2024
2023
£
£
Sales to company under common ownership
274,586
241,214
Sales to company in which Gateway Falkirk limited holds an investment
6,000
4,500
Management fee income from company under common ownership
41,400
36,980

No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

10
Ultimate controlling party

The Company was under the control of the holders of the ordinary shares throughout the current and prior year. No individual shareholder has a controlling interest in the Company.

2024-03-312023-04-01false02 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedR G JackD R SpillerJ S RichardsAddleshaw Goddard (Scotland) Secreterial LimitedfalsefalseSC3055272023-04-012024-03-31SC305527bus:Director12023-04-012024-03-31SC305527bus:Director22023-04-012024-03-31SC305527bus:Director32023-04-012024-03-31SC305527bus:CompanySecretary12023-04-012024-03-31SC305527bus:RegisteredOffice2023-04-012024-03-31SC305527bus:Agent12023-04-012024-03-31SC3055272024-03-31SC3055272023-03-31SC305527core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-31SC305527core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-31SC305527core:CurrentFinancialInstruments2024-03-31SC305527core:CurrentFinancialInstruments2023-03-31SC305527core:ShareCapital2024-03-31SC305527core:ShareCapital2023-03-31SC305527core:CapitalRedemptionReserve2024-03-31SC305527core:CapitalRedemptionReserve2023-03-31SC305527core:RetainedEarningsAccumulatedLosses2024-03-31SC305527core:RetainedEarningsAccumulatedLosses2023-03-31SC305527core:ShareCapitalOrdinaryShares2024-03-31SC305527core:ShareCapitalOrdinaryShares2023-03-31SC3055272022-04-012023-03-31SC305527core:WithinOneYear2024-03-31SC305527core:WithinOneYear2023-03-31SC305527bus:PrivateLimitedCompanyLtd2023-04-012024-03-31SC305527bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC305527bus:FRS1022023-04-012024-03-31SC305527bus:Audited2023-04-012024-03-31SC305527bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP