Company registration number 07362673 (England and Wales)
GATEHOUSE ADVISORY PARTNERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GATEHOUSE ADVISORY PARTNERS LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
GATEHOUSE ADVISORY PARTNERS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
6
45,748
60,991
Current assets
Trade and other receivables
7
268,234
335,269
Cash and cash equivalents
626,511
1,144,345
894,745
1,479,614
Current liabilities
8
(256,961)
(607,320)
Net current assets
637,784
872,294
Total assets less current liabilities
683,532
933,285
Provisions for liabilities
9
(1,549)
-
0
Net assets
681,983
933,285
Equity
Called up share capital
2,066
2,066
Share premium account
63,268
63,268
Retained earnings
616,649
867,951
Total equity
681,983
933,285

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 May 2025 and are signed on its behalf by:
Mr N J J Greenstock
Director
Company registration number 07362673 (England and Wales)
GATEHOUSE ADVISORY PARTNERS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Share premium account
Other reserves
Retained earnings
Total
Notes
£
£
£
£
£
Balance at 1 January 2023
2,000
-
0
74,000
825,906
901,906
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
-
192,045
192,045
Dividends
-
-
-
(150,000)
(150,000)
Transfers
-
-
(37,000)
-
0
(37,000)
Other movements
66
63,268
(37,000)
-
26,334
Balance at 31 December 2023
2,066
63,268
-
867,951
933,285
Year ended 31 December 2024:
Loss and total comprehensive income
-
-
-
(101,302)
(101,302)
Dividends
-
-
-
(150,000)
(150,000)
Balance at 31 December 2024
2,066
63,268
-
616,649
681,983
GATEHOUSE ADVISORY PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Gatehouse Advisory Partners Limited is a private company limited by shares incorporated in England and Wales. Registered number 07362673. The registered office is 48 Streathbourne Road, London, United Kingdom, SW17 8QX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover is recognised at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Turnover from the rendering of services is recognized by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognized to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computers
25% straightline
Motor vehicles
25% straightline
1.4
Taxation

Income tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

GATEHOUSE ADVISORY PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Share-based payments

The cost of equity-settled transactions with employees is measured by reference to the fair value of the equity instruments granted at the date at which they are granted and is recognised as an expense over the vesting period, which ends on the date on which the relevant employees become fully entitled to the award.

Fair value is determined by the directors, using an appropriate pricing model. In valuing equity settled transactions, no account is taken of any vesting conditions, other than conditions linked to the price of the shares of the company (market conditions) and non-vesting conditions. No expense is recognised for awards that do not ultimately vest, except for awards where vesting is conditional upon a market or non-vesting condition, which are treated as vesting irrespective of whether or not the market or non-vesting condition is satisfied, provided that all other performance conditions are satisfied.

 

At each balance sheet date before vesting, the cumulative expense is calculated, representing the extent to which the vesting period has expired and management's best estimate of the achievement or otherwise of non-market conditions and of the number of equity instruments that will ultimately vest or in the case of an instrument subject to a market condition, be treated as vesting as described above. The movement in cumulative expense since the previous balance sheet date is recognised in the income statement, with a corresponding entry in equity.

 

Where the terms of equity-settled award are modified or a new award is designated as replacing a cancelled or settled award, the cost based on the original award terms continues to be recognised over the original vesting period. In addition, an expense is recognised over the remainder of the new vesting period for the incremental fair value of any modification, based on the difference between the fair value of the original award and the fair value of the modified award, both as measured on the date of the modification. No reduction is recognised if this difference is negative.

 

Where an equity-settled award is cancelled, it is treated as if it had vested on the date of cancellation, and any cost not yet recognised in the profit and loss account for the award is expensed immediately. Any compensation paid up to the fair value of the award at the cancellation or settlement date is deducted from equity, with any excess over fair value expensed in the profit and loss account.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

GATEHOUSE ADVISORY PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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 considered to be 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
24
23
4
Directors' remuneration and dividends
2024
2023
£
£
Remuneration paid to directors
235,191
242,504
Dividends paid to directors
143,760
143,756
5
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
(45,259)
64,427
Deferred tax
Origination and reversal of timing differences
15,862
3,077
Total tax (credit)/charge
(29,397)
67,504
GATEHOUSE ADVISORY PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 January 2024
100,340
Additions
8,785
Disposals
(9,230)
At 31 December 2024
99,895
Depreciation and impairment
At 1 January 2024
39,349
Depreciation charged in the year
24,028
Eliminated in respect of disposals
(9,230)
At 31 December 2024
54,147
Carrying amount
At 31 December 2024
45,748
At 31 December 2023
60,991
7
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
111,002
220,579
Corporation tax recoverable
45,259
-
0
Other receivables
111,973
100,376
268,234
320,955
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
14,314
Total debtors
268,234
335,269
GATEHOUSE ADVISORY PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
8
Current liabilities
2024
2023
£
£
Corporation tax
-
0
64,427
Other taxation and social security
119,309
187,266
Other payables
137,652
355,627
256,961
607,320
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Balances:
£
£
£
£
Accelerated capital allowances
1,549
-
-
(3,187)
Share based payments
-
-
-
17,501
1,549
-
-
14,314
2024
Movements in the year:
£
Asset at 1 January 2024
(14,314)
Charge to profit or loss
15,863
Liability at 31 December 2024
1,549

The deferred tax liability set out above is expected to reverse within [12 months] and relates to accelerated capital allowances that are expected to mature within the same period.

10
Ultimate control

The company is controlled by the directors.

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