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REGISTERED NUMBER: 09949986 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

GATH LIMITED

GATH LIMITED (REGISTERED NUMBER: 09949986)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Balance sheet 1

Notes to the financial statements 3


GATH LIMITED (REGISTERED NUMBER: 09949986)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 18,547 23,629
Investment property 5 1,780,000 1,780,000
1,798,547 1,803,629

Current assets
Debtors 6 4,037 3,031
Cash at bank 11,556 11,349
15,593 14,380
Creditors
Amounts falling due within one year 7 382,518 704,148
Net current liabilities (366,925 ) (689,768 )
Total assets less current liabilities 1,431,622 1,113,861

Provisions for liabilities 8 110,134 111,404
Net assets 1,321,488 1,002,457

Capital and reserves
Called up share capital 9 100 100
Fair value reserve 10 316,490 316,490
Retained earnings 1,004,898 685,867
Shareholders' funds 1,321,488 1,002,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GATH LIMITED (REGISTERED NUMBER: 09949986)

BALANCE SHEET - continued
31 JANUARY 2024


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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:




Mr N Taylor - Director



Mrs C Taylor - Director


GATH LIMITED (REGISTERED NUMBER: 09949986)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. Statutory information

GATH Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09949986. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is Old Dairy Cottage, Long Lane, Wimborne, Dorset, BH21 7AQ.

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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

Rental income
Rental income is recognised on an accruals basis for the long let investment properties. Income from the furnished holiday let is recognised on the same basis.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

GATH LIMITED (REGISTERED NUMBER: 09949986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 February 2023 41,929
Additions 1,100
At 31 January 2024 43,029
Depreciation
At 1 February 2023 18,300
Charge for year 6,182
At 31 January 2024 24,482
Net book value
At 31 January 2024 18,547
At 31 January 2023 23,629

5. Investment property
Total
£   
Fair value
At 1 February 2023
and 31 January 2024 1,780,000
Net book value
At 31 January 2024 1,780,000
At 31 January 2023 1,780,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2019 3,228
Valuation in 2020 154,207
Valuation in 2021 130,077
Valuation in 2022 147,000
Valuation in 2023 (12,524 )
Cost 1,358,012
1,780,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,358,012 1,358,012

Investment properties were valued on an open market basis on 31 January 2024 by the director .

GATH LIMITED (REGISTERED NUMBER: 09949986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


6. Debtors: amounts falling due within one year
2024 2023
£    £   
Tax 3,140 3,031
Prepayments and accrued income 897 -
4,037 3,031

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 551 393
Tax 6,962 -
Directors' current accounts 366,037 699,354
Accruals and deferred income 8,968 4,401
382,518 704,148

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax 110,134 111,404

Deferred
tax
£   
Balance at 1 February 2023 111,404
Credit to Income statement during year (1,270 )
Balance at 31 January 2024 110,134

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
98 Ordinary A £1 98 98
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
100 100

10. Reserves
Fair
value
reserve
£   
At 1 February 2023
and 31 January 2024 316,490

GATH LIMITED (REGISTERED NUMBER: 09949986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


11. Ultimate controlling party

The company is controlled by the directors, Mr N and Mrs C Taylor, by virtue of their 98% holding in the voting share capital.