Registration number:
Gain & Co UK Limited
trading as
for the Year Ended 31 December 2024
Pages for filing with Registrar
Gain & Co UK Limited
trading as Howtorobot
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Gain & Co UK Limited
trading as Howtorobot
Company Information
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Director |
S Hagensen Peters |
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Registered office |
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Registered number |
13504247 |
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Accountant |
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Gain & Co UK Limited
trading as Howtorobot
(Registration number: 13504247)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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600 |
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Share premium reserve |
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155,632 |
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Profit and loss account |
(418,668) |
(356,950) |
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Total equity |
(262,436) |
(200,718) |
Gain & Co UK Limited
trading as Howtorobot
(Registration number: 13504247)
Balance Sheet as at 31 December 2024
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised for issue by the
.........................................
Director
Gain & Co UK Limited
trading as Howtorobot
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The company's financial statements have been prepared on a going concern basis. The parent company has confirmed that it will continue to support the company for a period of at least twelve months from the date of approval of these financial statements via intercompany loans. The parent company has raised £2.5 million in debt finance during 2024.
Gain & Co UK Limited
trading as Howtorobot
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible fixed assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
The company's policy is to expense the cost of computers and so the depreciation charge has been accelerated to reflect this.
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Furniture and fixtures |
33% on cost |
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Computer Equipment |
33% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are recognised initially at the transaction price. They are subsequently measured at
amortised cost using the effective interest method, less provision for impairment. A provision for the
impairment of trade debtors is established when there is objective evidence that the company will not
be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are recognised at the transaction price.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Gain & Co UK Limited
trading as Howtorobot
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Gain & Co UK Limited
trading as Howtorobot
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Tangible fixed assets |
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Computer equipment |
Furniture and fixtures |
Total |
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Cost |
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At 1 January 2024 |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
- |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
- |
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At 31 December 2023 |
- |
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Debtors: amounts falling due within one year |
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2024 |
2023 |
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Prepayments |
8,876 |
- |
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Other debtors |
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Gain & Co UK Limited
trading as Howtorobot
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Creditors |
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Note |
2024 |
2023 |
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Amounts falling due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Accruals |
2,650 |
4,050 |
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The amounts owed to group undertakings are related to an unsecured loan for an indefinite length. The loan balance accrues interest based on Applicable Federal Rates published by the Internal Revenue Service in Denmark.
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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600 |
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600 |
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
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2024 |
2023 |
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- |
Gain & Co UK Limited
trading as Howtorobot
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Controlling party |
The company's immediate parent is Gain & Co. ApS, a company registered in Denmark, and is a wholly owned subsidiary of Gain & Co Holding ApS which is the ultimate parent company and controlling party, and is incorporated in Denmark. The registered office of the immediate parent is Dirch Passers Alle 27, 2000 Frederiksberg, Denmark.