Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Current assets | ||||
| Debtors | 3 |
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| Cash at bank and in hand |
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| 42,245 | 19,803 | |||
| Creditors: amounts falling due within one year | 4 | (
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| Net current assets | 32,963 | 11,787 | ||
| Total assets less current liabilities | 32,963 | 11,787 | ||
| Accruals and deferred income | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Gearing Up UK Ltd (registered number:
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Dr D C Bristol
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Gearing Up UK Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House East Wing Ground, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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The company is run and administered by the directors for whom no contract of services are in place.
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| £ | £ | ||
| Trade debtors |
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| Other debtors |
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| £ | £ | ||
| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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Transactions with the entity's directors
Advances
During the year the directors maintained a loan account which is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.
During the year to 31 January 2025, the account was overdrawn by £16 and £16 was repaid in the year. The balance owed by the Directors as at 31 January 2025 was £nil.
During the year to 31 January 2024, the account was overdrawn by £725 and £709 was repaid in the year. The balance owed by the Directors as at 31 January 2024 was £16.