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REGISTERED NUMBER: 03051720 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Easygates Limited

Easygates Limited (Registered number: 03051720)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Easygates Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: T D Daniels-Gooding
S P Gooding
D M Gooding





SECRETARY: S I Gooding





REGISTERED OFFICE: Unit 16
James Scott Road
Halesowen
West Midlands
B63 2QT





REGISTERED NUMBER: 03051720 (England and Wales)





ACCOUNTANTS: Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL

Easygates Limited (Registered number: 03051720)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 45,000
Tangible assets 5 190,962 586,586
Investments 6 276,106 -
497,068 631,586

CURRENT ASSETS
Stocks 2,790,450 2,371,451
Debtors 1,198,633 1,139,545
Cash at bank 151,981 477,479
4,141,064 3,988,475
CREDITORS
Amounts falling due within one year 1,289,754 1,002,535
NET CURRENT ASSETS 2,851,310 2,985,940
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,348,378

3,617,526

CREDITORS
Amounts falling due after more than one year (13,333 ) (81,222 )

PROVISIONS FOR LIABILITIES (47,512 ) (50,412 )
NET ASSETS 3,287,533 3,485,892

CAPITAL AND RESERVES
Called up share capital 95 95
Capital redemption reserve 5 5
Retained earnings 3,287,433 3,485,792
3,287,533 3,485,892

Easygates Limited (Registered number: 03051720)

Abridged Balance Sheet - continued
31 March 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





T D Daniels-Gooding - Director


Easygates Limited (Registered number: 03051720)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Easygates 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on cost and 2% on reducing balance
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance, 20% on cost and 4% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Easygates Limited (Registered number: 03051720)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2023 - 48 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 185,000
AMORTISATION
At 1 April 2023 140,000
Amortisation for year 15,000
At 31 March 2024 155,000
NET BOOK VALUE

At 31 March 2024 30,000
At 31 March 2023 45,000

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years, which is considered appropriate by the directors in which income will be generated from this acquisition for at least ten years.

Easygates Limited (Registered number: 03051720)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 947,278
Additions 33,573
Disposals (449,864 )
At 31 March 2024 530,987
DEPRECIATION
At 1 April 2023 360,692
Charge for year 49,658
Eliminated on disposal (70,325 )
At 31 March 2024 340,025
NET BOOK VALUE
At 31 March 2024 190,962
At 31 March 2023 586,586

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
Additions 853,614
At 31 March 2024 853,614
PROVISIONS
Impairments 577,508
At 31 March 2024 577,508
NET BOOK VALUE
At 31 March 2024 276,106

7. CONTINGENT LIABILITIES

There are no contingent liabilities

Easygates Limited (Registered number: 03051720)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
T D Daniels-Gooding
Balance outstanding at start of year (8,798 ) 50,059
Amounts advanced 154,426 125,060
Amounts repaid (183,917 ) (183,917 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (38,289 ) (8,798 )

D M Gooding
Balance outstanding at start of year (13,430 ) (412 )
Amounts advanced 18,022 19,294
Amounts repaid (11,262 ) (32,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,670 ) (13,430 )

S P Gooding
Balance outstanding at start of year (73,378 ) (15,322 )
Amounts advanced 116,685 95,766
Amounts repaid (110,472 ) (153,822 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (67,165 ) (73,378 )

9. POST BALANCE SHEET EVENTS

There are no material post balance sheet events

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Easygates Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Easygates Limited for the year ended 31 March 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Easygates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Easygates Limited and state those matters that we have agreed to state to the Board of Directors of Easygates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Easygates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Easygates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Easygates Limited. You consider that Easygates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Easygates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL


13 September 2024