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REGISTERED NUMBER: SC177224 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 30 DECEMBER 2022 TO 31 DECEMBER 2023

FOR

GATEWAY CONTROL SYSTEMS LIMITED

GATEWAY CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: SC177224)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 30 December 2022 to 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GATEWAY CONTROL SYSTEMS LIMITED

COMPANY INFORMATION
for the Period 30 December 2022 to 31 December 2023







DIRECTOR: A Warren





SECRETARY: Mrs S Warren





REGISTERED OFFICE: Gateway House
Enzie
Buckie
Morayshire
AB56 5BL





REGISTERED NUMBER: SC177224 (Scotland)





ACCOUNTANTS: John M Taylor & Co
Chartered Accountants
9 Glasgow Road
PAISLEY
Renfrewshire
PA1 3QS

GATEWAY CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: SC177224)

BALANCE SHEET
31 December 2023

29.12.22 31.12.23
£ £ Notes £
FIXED ASSETS
167,054 Tangible assets 5 147,372

CURRENT ASSETS
3,500 Stocks 3,000
565,032 Debtors 6 510,631
2,735 Cash at bank and in hand 52,918
571,267 566,549
CREDITORS
177,126 Amounts falling due within one year 7 231,142
394,141 NET CURRENT ASSETS 335,407
561,195 TOTAL ASSETS LESS CURRENT
LIABILITIES

482,779

CREDITORS
(32,221 ) Amounts falling due after more than one
year

8

(15,833

)

(21,984 ) PROVISIONS FOR LIABILITIES 10 (18,616 )
506,990 NET ASSETS 448,330

CAPITAL AND RESERVES
1,000 Called up share capital 11 1,000
505,990 Retained earnings 447,330
506,990 SHAREHOLDERS' FUNDS 448,330

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 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.

GATEWAY CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: SC177224)

BALANCE SHEET - continued
31 December 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 May 2025 and were signed by:





A Warren - Director


GATEWAY CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: SC177224)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 30 December 2022 to 31 December 2023

1. STATUTORY INFORMATION

Gateway Control Systems Limited is a private company, limited by shares , registered in Scotland. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared under the historical cost convention.

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

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the cost at the balance sheet date plus a contribution to profit dependent on the status of services completed. Contract revenue is recognised when and to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 4% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

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


GATEWAY CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: SC177224)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 30 December 2022 to 31 December 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period which the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand as well as deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 (2022 - 15 ) .

GATEWAY CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: SC177224)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 30 December 2022 to 31 December 2023

5. TANGIBLE FIXED ASSETS
Freehold Improvements
Totals property to property
£ £ £
COST
At 30 December 2022 460,483 45,804 37,420
Additions 12,894 - -
At 31 December 2023 473,377 45,804 37,420
DEPRECIATION
At 30 December 2022 293,429 1,832 30,045
Charge for period 32,576 458 1,497
At 31 December 2023 326,005 2,290 31,542
NET BOOK VALUE
At 31 December 2023 147,372 43,514 5,878
At 29 December 2022 167,054 43,972 7,375

Fixtures
and Motor Computer
fittings vehicles equipment
£ £ £
COST
At 30 December 2022 110,119 228,990 38,150
Additions 1,652 - 11,242
At 31 December 2023 111,771 228,990 49,392
DEPRECIATION
At 30 December 2022 99,291 127,029 35,232
Charge for period 1,790 25,979 2,852
At 31 December 2023 101,081 153,008 38,084
NET BOOK VALUE
At 31 December 2023 10,690 75,982 11,308
At 29 December 2022 10,828 101,961 2,918

GATEWAY CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: SC177224)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 30 December 2022 to 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 30 December 2022
and 31 December 2023 165,586
DEPRECIATION
At 30 December 2022 88,156
Charge for period 19,357
At 31 December 2023 107,513
NET BOOK VALUE
At 31 December 2023 58,073
At 29 December 2022 77,430

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 29.12.22
£ £
Trade debtors 426,053 494,301
Directors' loan accounts - 36,537
VAT 68,486 34,194
Prepayments 16,092 -
510,631 565,032

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 29.12.22
£ £
Bank loans and overdrafts 10,000 86,459
Hire purchase contracts 6,388 12,045
Trade creditors 65,058 16,200
Corporation Tax 14,379 15,551
Social security and other taxes 22,601 32,299
Directors' loan accounts 105,799 -
Accrued expenses 6,917 14,572
231,142 177,126

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 29.12.22
£ £
Bank loans - 2-5 years 15,000 25,000
Hire purchase contracts 833 7,221
15,833 32,221

GATEWAY CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: SC177224)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 30 December 2022 to 31 December 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 29.12.22
£ £
Bank overdraft - 76,459
Hire purchase contracts 7,221 19,266
7,221 95,725

Obligations under hire purchase contracts are secured over the assets to which they relate.

Bank borrowing is secured by a bond and floating charge over the assets of the company in favour of the Bank of Scotland PLC.

10. PROVISIONS FOR LIABILITIES
31.12.23 29.12.22
£ £
Deferred tax 18,616 21,984

Deferred tax
£
Balance at 30 December 2022 21,984
Provided during period (3,368 )
Provision movement
Balance at 31 December 2023 18,616

This is in respect of accelerated capital allowances.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 29.12.22
value: £ £
600 Ordinary A £1 600 600
400 Ordinary B £1 400 400
1,000 1,000

12. ULTIMATE CONTROLLING PARTY

A Warren, the director, controls the company as a result of controlling directly 60% of the issued share capital.