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COMPANY REGISTRATION NUMBER: 03155688
GATEWAY HOMES UK LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
25 March 2024
GATEWAY HOMES UK LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 25 MARCH 2024
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
GATEWAY HOMES UK LIMITED
STATEMENT OF FINANCIAL POSITION
25 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
510,632
510,675
CURRENT ASSETS
Stocks
36,002
36,002
Debtors
6
547,162
348,819
Cash at bank and in hand
29,435
49,585
---------
---------
612,599
434,406
CREDITORS: amounts falling due within one year
7
( 97,093)
( 98,228)
---------
---------
NET CURRENT ASSETS
515,506
336,178
------------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,026,138
846,853
CREDITORS: amounts falling due after more than one year
8
( 1,349,519)
( 1,182,521)
------------
------------
NET LIABILITIES
( 323,381)
( 335,668)
------------
------------
CAPITAL AND RESERVES
Called up share capital
6
6
Profit and loss account
( 323,387)
( 335,674)
---------
---------
SHAREHOLDERS DEFICIT
( 323,381)
( 335,668)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 25 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GATEWAY HOMES UK LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
25 March 2024
These financial statements were approved by the board of directors and authorised for issue on 26 November 2024 , and are signed on behalf of the board by:
N C Statman
Director
Company registration number: 03155688
GATEWAY HOMES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 25 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, LS1 4DJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements have been prepared on the going concern basis. The director considers the going concern basis to be appropriate as he has confirmed his ongoing support of the company. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents amounts receivable for property transactions and services, or rents receivable net of VAT.
Tangible assets
All fixed assets are initially recorded at cost except for other investments, which represent equity in freehold properties, are stated at valuation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% reducing balance
Other investments - Not depreciated
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. TAX ON PROFIT
Major components of tax expense
Period from
Year to
27 Mar 22 to
25 Mar 24
25 Mar 23
£
£
Current tax:
UK current tax expense
13
8,182
Adjustments in respect of prior periods
381
----
-------
Total current tax
13
8,563
----
-------
----
-------
Tax on profit
13
8,563
----
-------
5. TANGIBLE ASSETS
Plant and machinery
Other investments
Total
£
£
£
Cost
At 26 March 2023 and 25 March 2024
24,752
510,507
535,259
--------
---------
---------
Depreciation
At 26 March 2023
24,584
24,584
Charge for the year
43
43
--------
---------
---------
At 25 March 2024
24,627
24,627
--------
---------
---------
Carrying amount
At 25 March 2024
125
510,507
510,632
--------
---------
---------
At 25 March 2023
168
510,507
510,675
--------
---------
---------
6. DEBTORS
2024
2023
£
£
Other debtors
547,162
348,819
---------
---------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,484
5,484
Trade creditors
4,296
Corporation tax
8,195
8,182
Amounts due to related companies
68,169
69,690
Other creditors
15,245
10,576
--------
--------
97,093
98,228
--------
--------
The bank overdraft is secured by a debenture over the assets of the company and legal first charges over various properties.
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,114,074
923,002
Other creditors
235,445
259,519
------------
------------
1,349,519
1,182,521
------------
------------