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REGISTERED NUMBER: 01440296 (England and Wales)









Financial Statements

for the Year Ended

30 September 2024

for

Gate of Barbican Limited

Gate of Barbican Limited (Registered number: 01440296)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Gate of Barbican Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mrs R J Leigh
D S Leigh





SECRETARY: Mrs R J Leigh





REGISTERED OFFICE: 28 Rosecroft Avenue
London
NW3 7QB





REGISTERED NUMBER: 01440296 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
Suite 301, Stanmore Business
and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW

Gate of Barbican Limited (Registered number: 01440296)

Statement of Financial Position
30 September 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Inventories 3,821,850 7,321,850
Debtors 4 3,030 41,133
Cash at bank 4,555,294 974,202
8,380,174 8,337,185
CREDITORS
Amounts falling due within one year 5 64,328 173,303
NET CURRENT ASSETS 8,315,846 8,163,882
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,315,846

8,163,882

CREDITORS
Amounts falling due after more than one
year

6

8,908,804

8,908,804
NET LIABILITIES (592,958 ) (744,922 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (592,960 ) (744,924 )
SHAREHOLDERS' FUNDS (592,958 ) (744,922 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by:





D S Leigh - Director


Gate of Barbican Limited (Registered number: 01440296)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Gate of Barbican 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue
Turnover represents rents receivable, excluding value added tax. Rental income is recognised on an accruals basis.

Investment property
Initial measurement
Investment properties are initially measured at cost.

Subsequent measurement
Investment properties are measured at fair value at each reporting date with changes in fair values recognised in profit or loss. No depreciation is provided in respect of investment properties.

At the year end, the company's properties were appropriated to trading stock at fair value. The directors will seek to sell them opportunistically.

Stocks
Inventories 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
At the balance sheet date the company had net liabilities of £744,911 (2023: £744,922) and owed its directors £8,908,804. The directors' loan has no formal repayment date and it is their intention not to seek repayment until such time the company has sufficient liquid funds available.

3. EMPLOYEES AND DIRECTORS

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

Gate of Barbican Limited (Registered number: 01440296)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments & accrued income 3,030 41,133

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,847 -
Tax 49,688 36,696
Value added tax 5,759 15,093
Accruals & deferred income 3,034 121,514
64,328 173,303

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Directors' loan accounts 8,908,804 8,908,804

Interest of £Nil (2023: £66,250) was charged on the loan from the directors.