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Registered number: 07951315
Gadus Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Mac Kotecha & Company
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07951315
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,889 3,145
3,889 3,145
CURRENT ASSETS
Debtors 5 26,235 20,085
Cash at bank and in hand 98,568 71,809
124,803 91,894
Creditors: Amounts Falling Due Within One Year 6 (41,434 ) (27,290 )
NET CURRENT ASSETS (LIABILITIES) 83,369 64,604
TOTAL ASSETS LESS CURRENT LIABILITIES 87,258 67,749
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (972 ) (597 )
NET ASSETS 86,286 67,152
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 86,186 67,052
SHAREHOLDERS' FUNDS 86,286 67,152
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Caroline O'Driscoll
Director
13/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Gadus Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07951315 . The registered office is 91 Mews House, 50 Kensington Gardens Square, London, W2 4BA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 1,310 13,553 14,863
Additions - 2,040 2,040
As at 31 March 2024 1,310 15,593 16,903
Depreciation
As at 1 April 2023 1,182 10,536 11,718
Provided during the period 32 1,264 1,296
As at 31 March 2024 1,214 11,800 13,014
Net Book Value
As at 31 March 2024 96 3,793 3,889
As at 1 April 2023 128 3,017 3,145
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 15,960 18,060
Other debtors 10,275 2,025
26,235 20,085
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 10,577 8,539
Taxation and social security 30,857 18,751
41,434 27,290
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 972 597
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 80,970 85,000
Included in total dividends paid of £80,970 (2023: £85,000) were dividends paid to the following director:
Ms Caroline O'Driscoll: £80,970 (2023: £85,000)
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