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REGISTERED NUMBER: 05600787 (England and Wales)











Greengate Metals Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024






Greengate Metals Limited (Registered number: 05600787)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Greengate Metals Limited

Company Information
for the Year Ended 31 July 2024







Director: D C Day





Secretary: D C Day





Registered office: Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ





Registered number: 05600787 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Greengate Metals Limited (Registered number: 05600787)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £   
Fixed assets
Tangible assets 4 384,852 459,234

Current assets
Stocks 35,000 75,000
Debtors 5 275,308 193,597
Cash at bank 342,865 118,210
653,173 386,807
Creditors
Amounts falling due within one year 6 (402,153 ) (232,746 )
Net current assets 251,020 154,061
Total assets less current liabilities 635,872 613,295

Creditors
Amounts falling due after more than one
year

7

(164,943

)

(225,634

)

Provisions for liabilities (89,177 ) (107,011 )
Net assets 381,752 280,650

Capital and reserves
Called up share capital 4 4
Retained earnings 381,748 280,646
Shareholders' funds 381,752 280,650

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Greengate Metals Limited (Registered number: 05600787)

Balance Sheet - continued
31 July 2024


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 17 April 2025 and were signed by:





D C Day - Director


Greengate Metals Limited (Registered number: 05600787)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. Statutory information

Greengate Metals 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 5% on cost
Plant and machinery etc - 25% on reducing balance and 5% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Greengate Metals Limited (Registered number: 05600787)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. Accounting policies - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 13 (2023 - 12 ) .

4. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 August 2023 30,275 1,188,897 1,219,172
Additions - 77,238 77,238
Disposals - (130,258 ) (130,258 )
At 31 July 2024 30,275 1,135,877 1,166,152
Depreciation
At 1 August 2023 24,602 735,336 759,938
Charge for year 1,514 120,492 122,006
Eliminated on disposal - (100,644 ) (100,644 )
At 31 July 2024 26,116 755,184 781,300
Net book value
At 31 July 2024 4,159 380,693 384,852
At 31 July 2023 5,673 453,561 459,234

Greengate Metals Limited (Registered number: 05600787)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
Cost
At 1 August 2023
and 31 July 2024 385,178
Depreciation
At 1 August 2023 172,499
Charge for year 53,170
At 31 July 2024 225,669
Net book value
At 31 July 2024 159,509
At 31 July 2023 212,679

5. Debtors: amounts falling due within one year
31.7.24 31.7.23
£    £   
Trade debtors 35,661 62,730
Amounts owed by associates 156,541 109,194
Other debtors 83,106 21,673
275,308 193,597

6. Creditors: amounts falling due within one year
31.7.24 31.7.23
£    £   
Hire purchase contracts 70,159 55,689
Trade creditors 92,593 9,020
Taxation and social security 226,835 152,930
Other creditors 12,566 15,107
402,153 232,746

7. Creditors: amounts falling due after more than one year
31.7.24 31.7.23
£    £   
Hire purchase contracts 164,943 225,634

Greengate Metals Limited (Registered number: 05600787)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. Creditors: amounts falling due after more than one year - continued
31.7.24 31.7.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 50,739 42,847

8. Other financial commitments

The company had operating lease commitments amounting to £29,246 at the balance sheet date.

9. Related party disclosures

At the balance sheet date a sum of £37,416 (2023 £30,606) was owed to the company by Quick Cash Payment Solutions Limited, a company in which DC Day is materially interested as a director and shareholder.

The company recharged costs to the sum of £87,000 (2023 £80,000) to Greengate Autoparts Limited. At the balance sheet date a sum of £118,172 (2023 £78,473) was owed to the company by Greengate Autoparts Limited. Greengate Autoparts Limited is a company in which DC Day is materially interested as a director and shareholder.