1 April 2023 false No description of principal activity Taxfiler 2024.5 07210701business:PrivateLimitedCompanyLtd2023-04-012024-03-31 072107012023-03-31 072107012023-04-012024-03-31 07210701business:AuditExemptWithAccountantsReport2023-04-012024-03-31 07210701business:AbridgedAccounts2023-04-012024-03-31 072107012024-03-31 072107012023-03-31 07210701core:WithinOneYear2024-03-31 07210701core:WithinOneYear2023-03-31 07210701core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 07210701core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 07210701core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 07210701core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 07210701core:PreviouslyStatedAmount2024-03-31 07210701core:PreviouslyStatedAmount2023-03-31 07210701business:SmallEntities2023-04-012024-03-31 07210701business:Director12023-04-012024-03-31 07210701countries:EnglandWales2023-04-012024-03-31 07210701business:RegisteredOffice2023-04-012024-03-31 07210701core:PlantMachinery2023-04-012024-03-31 072107012022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 07210701 (England and Wales)
Gateway OHS Ltd Unaudited accounts for the year ended 31 March 2024
Gateway OHS Ltd Unaudited accounts Contents
Page
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Gateway OHS Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
42,679 
36,395 
Current assets
Inventories
10,000 
8,000 
Debtors
62,193 
61,171 
Cash at bank and in hand
289,766 
447,812 
361,959 
516,983 
Creditors: amounts falling due within one year
(23,561)
(43,904)
Net current assets
338,398 
473,079 
Total assets less current liabilities
381,077 
509,474 
Provisions for liabilities
Deferred tax
(10,115)
(11,328)
Net assets
370,962 
498,146 
Capital and reserves
Called up share capital
101 
101 
Profit and loss account
370,861 
498,045 
Shareholders' funds
370,962 
498,146 
For the year ending 31 March 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by
George Warmisham Director Company Registration No. 07210701
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Gateway OHS Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Gateway OHS Ltd is a private company, limited by shares, registered in England and Wales, registration number 07210701. The registered office is 44 Cross Street, Abergavenny, Gwent, NP7 5ER.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Income recognition
Income is recognised when goods and services have been delivered to customers such that risks and rewards of ownership have transferred to them.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
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Gateway OHS Ltd Notes to the Accounts for the year ended 31 March 2024
Employee Benefit Trust
On the 28 October 2016 the entire issued share capital of Gateway OHS Ltd was sold and is now an "employee owned" company. To achieve this aim a new trustee company named Gateway EOT Limited was incorporated which acts as trustee of the Gateway Employee Ownership Trust ("EOT"). The EOT now owns approximately 99% of the share capital of Gateway OHS Ltd. It has been determined that the EOT has the legal and beneficial ownership of the shares of Gateway OHS Ltd as a result of the influence that it has over the future direction of the company. As a result of this fact the above loans have not been recognised as a liability within the Gateway OHS Ltd accounts.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 April 2023
400,000 
At 31 March 2024
400,000 
Amortisation
At 1 April 2023
400,000 
At 31 March 2024
400,000 
Net book value
At 31 March 2024
- 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2023
65,427 
Additions
22,219 
Disposals
(12,798)
At 31 March 2024
74,848 
Depreciation
At 1 April 2023
29,032 
Charge for the year
15,935 
On disposals
(12,798)
At 31 March 2024
32,169 
Net book value
At 31 March 2024
42,679 
At 31 March 2023
36,395 
6
Average number of employees
During the year the average number of employees was 18 (2023: 13).
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