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REGISTERED NUMBER: 14663477 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 15 FEBRUARY 2023 TO 29 FEBRUARY 2024

FOR

RAISE GATE LIMITED

RAISE GATE LIMITED (REGISTERED NUMBER: 14663477)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 15 FEBRUARY 2023 TO 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


RAISE GATE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 15 FEBRUARY 2023 TO 29 FEBRUARY 2024







DIRECTOR: Ms A J Patel





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 14663477 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

RAISE GATE LIMITED (REGISTERED NUMBER: 14663477)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

Notes £    £   
FIXED ASSETS
Investment property 4 1,045,237

CURRENT ASSETS
Debtors 5 16,170
Cash at bank 126
16,296
CREDITORS
Amounts falling due within one year 6 232,182
NET CURRENT LIABILITIES (215,886 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

829,351

CREDITORS
Amounts falling due after more than one
year

7

915,750
NET LIABILITIES (86,399 )

CAPITAL AND RESERVES
Called up share capital 9 100
Retained earnings (86,499 )
SHAREHOLDERS' FUNDS (86,399 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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

The financial statements were approved by the director and authorised for issue on 16 December 2024 and were signed by:





Ms A J Patel - Director


RAISE GATE LIMITED (REGISTERED NUMBER: 14663477)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 15 FEBRUARY 2023 TO 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Raise Gate 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the value of rental income chargeable in respect of the company's investment property. Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the reporting date.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the period 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 statement of financial position date.


RAISE GATE LIMITED (REGISTERED NUMBER: 14663477)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15 FEBRUARY 2023 TO 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 15 February 2023
and 29 February 2024 1,045,237
NET BOOK VALUE
At 29 February 2024 1,045,237
At 14 February 2023 1,045,237

Investment properties were valued on an open market basis on 29 February 2024 by the director of the company.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 15,000
Other debtors 1,170
16,170

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 660
Other creditors 231,522
232,182

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Bank loans 915,750

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 915,750

RAISE GATE LIMITED (REGISTERED NUMBER: 14663477)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15 FEBRUARY 2023 TO 29 FEBRUARY 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loans 915,750

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
249,990 A Ordinary 0.00010 25
750,010 B Ordinary 0.00010 75
100

10. RELATED PARTY DISCLOSURES

Included in the other debtors less than one year is an amount of £70 due from the shareholders of the company.The amount is interest free and repayable on demand.

Included in the other creditors less than one year is an amount of £209,195 due to connected companies under common directorship.The amount is interest free and repayable on demand.