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Company Registration No. 03746704 (England and Wales)
Gasgain Limited Unaudited accounts for the year ended 30 April 2024
Gasgain Limited Unaudited accounts Contents
Page
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Gasgain Limited Company Information for the year ended 30 April 2024
Directors
P J Gibbons G J Chadburn
Secretary
P J Gibbons
Company Number
03746704 (England and Wales)
Registered Office
Unit 2 Century Buildings Moor Lane Mansfield Nottinghamshire NG18 5SF UK
Accountants
Net Accountancy Solutions Limited 35 Gripps Common Cotgrave Nottingham Nottinghamshire NG12 3TF
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Gasgain Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
546 
728 
Current assets
Debtors
188,766 
183,059 
Cash at bank and in hand
92,491 
142,941 
281,257 
326,000 
Creditors: amounts falling due within one year
(60,222)
(102,614)
Net current assets
221,035 
223,386 
Net assets
221,581 
224,114 
Capital and reserves
Called up share capital
499 
499 
Profit and loss account
221,082 
223,615 
Shareholders' funds
221,581 
224,114 
For the year ending 30 April 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.
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 24 October 2024 and were signed on its behalf by
P J Gibbons Director Company Registration No. 03746704
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Gasgain Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Gasgain Limited is a private company, limited by shares, registered in England and Wales, registration number 03746704. The registered office is Unit 2 Century Buildings, Moor Lane, Mansfield, Nottinghamshire, NG18 5SF, UK.
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 as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for courses provided, excluding discounts, rebates and value added tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities.
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:
Fixtures & fittings
25% reducing balance
Computer equipment
33.33% straight line
Other tangible fixed assets
10% straight line
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2023
59,205 
31,439 
1,248 
91,892 
At 30 April 2024
59,205 
31,439 
1,248 
91,892 
Depreciation
At 1 May 2023
59,205 
31,335 
624 
91,164 
Charge for the year
- 
- 
182 
182 
At 30 April 2024
59,205 
31,335 
806 
91,346 
Net book value
At 30 April 2024
- 
104 
442 
546 
At 30 April 2023
- 
104 
624 
728 
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Gasgain Limited Notes to the Accounts for the year ended 30 April 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
705 
- 
Other debtors
188,061 
183,059 
188,766 
183,059 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
478 
512 
Taxes and social security
8,277 
51,046 
Other creditors
51,467 
51,056 
60,222 
102,614 
7
Operating lease commitments
2024 
2023 
£ 
£ 
At 30 April 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
- 
646 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
The loan is repayable on demand. Interest is charged at a rate of 2% per year on outstanding balance
166,377 
13,797 
8,617 
171,557 
166,377 
13,797 
8,617 
171,557 
At the end of the year the director owed the company £171,557 (2023: £166,377). Part of this balance has arisen because the director is holding £116,000 on trust on behalf of the company. This money can be called on at any time to be repaid.
9
Transactions with related parties
G J Chadburn, director was owed £36,287 (2023: £33,581) by the company. The amount is interest free and is included under other creditors. The company occupies premises owned by the directors, P J Gibbons and G J Chadburn, personally and paid rent of £15,420 (2023: £15,420). No amounts were outstanding at the end of the year.
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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