Gates Farming Ltd 12410993 true 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is that of a dormant company Digita Accounts Production Advanced 6.30.9574.0 true K. G. Gates J. A. Gates N. A. Gates false 12410993 2023-02-01 2024-01-31 12410993 2024-01-31 12410993 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-01-31 12410993 core:ShareCapital 2024-01-31 12410993 core:CurrentFinancialInstruments 2024-01-31 12410993 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 12410993 bus:FRS102 2023-02-01 2024-01-31 12410993 bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12410993 bus:FullAccounts 2023-02-01 2024-01-31 12410993 bus:RegisteredOffice 2023-02-01 2024-01-31 12410993 bus:Director1 2023-02-01 2024-01-31 12410993 bus:Director2 2023-02-01 2024-01-31 12410993 bus:Director3 2023-02-01 2024-01-31 12410993 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-02-01 2024-01-31 12410993 bus:EntityHasNeverTraded 2023-02-01 2024-01-31 12410993 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12410993 core:ShareCapital 2023-02-01 2024-01-31 12410993 1 2023-02-01 2024-01-31 12410993 countries:EnglandWales 2023-02-01 2024-01-31 12410993 2023-01-31 12410993 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-01-31 12410993 core:ShareCapital 2023-01-31 12410993 core:CurrentFinancialInstruments 2023-01-31 12410993 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12410993

Gates Farming Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Gates Farming Ltd

(Registration number: 12410993)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Current assets

 

Debtors

3

100

100

Cash at bank and in hand

 

7

18

 

107

118

Creditors: Amounts falling due within one year

5

(7)

(18)

Net assets

 

100

100

Capital and reserves

 

Called up share capital

6

100

100

Shareholders' funds

 

100

100

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 20 January 2025 and signed on its behalf by:
 

.........................................
N. A. Gates
Director

 

Gates Farming Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

These financial statements were authorised for issue by the Board on 20 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtor.

 

Gates Farming Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business. Creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Debtors

Current

2024
£

2023
£

Other debtors

100

100

4

Cash and cash equivalents

2024
£

2023
£

Cash at bank

7

18

5

Creditors

2024
£

2023
£

Due within one year

 

Amounts due to related parties

7

18

 

Gates Farming Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

Rights, preferences and restrictions

Ordinary shares have the following rights, preferences and restrictions:
There are no restrictions on the distribution of dividends and the repayment of capital.

7

Reserves

Share capital

There is a single class of ordinary shares. All the shares hold full voting rights.

8

Parent and ultimate parent undertaking

The company's immediate parent is Gates Family Holdings Ltd, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is Gates Family Holdings Ltd. These financial statements are available upon request from the registered office which is situated at Westwood House, 78 Loughborough Road, Quorn, Loughborough, Leicestershire, LE12 8DX.