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Company No: 12224773 (England and Wales)

WE ARE GABBA LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

WE ARE GABBA LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

WE ARE GABBA LTD

BALANCE SHEET

As at 30 September 2024
WE ARE GABBA LTD

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Current assets
Debtors 3 93,129 55,578
Cash at bank and in hand 3,332 3,603
96,461 59,181
Creditors: amounts falling due within one year 4 ( 39,480) ( 37,548)
Net current assets 56,981 21,633
Total assets less current liabilities 56,981 21,633
Creditors: amounts falling due after more than one year 5 ( 26,170) ( 26,170)
Net assets/(liabilities) 30,811 ( 4,537)
Capital and reserves
Called-up share capital 2 2
Profit and loss account 30,809 ( 4,539 )
Total shareholders' funds/(deficit) 30,811 ( 4,537)

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of We Are Gabba Ltd (registered number: 12224773) were approved and authorised for issue by the Director on 25 July 2025. They were signed on its behalf by:

N Smith
Director
WE ARE GABBA LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
WE ARE GABBA LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

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.

General information and basis of accounting

We Are Gabba 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 9 The Avenue, Alsager, Stoke-On-Trent, England, ST7 2AN, 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

**Rendering of Services**

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Debtors

2024 2023
£ £
Trade debtors 1,560 3,079
Other debtors 91,569 52,499
93,129 55,578

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 2,724 5,587
Taxation and social security 20,119 15,199
Other creditors 16,637 16,762
39,480 37,548

5. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 26,170 26,170

There are no amounts included above in respect of which any security has been given by the small entity.

6. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

As at 30 September 2024, contributions outstanding were £37 (2023: £162). The total pension cost charged to the profit and loss in respect of pensions was £790 (2023: £827).

7. Related party transactions

Transactions with the entity's director

During the year a director was advanced £39,416 (2023: £52,899) by the company and repaid £nil. (2023: £90,000). At the year end the director owed the company £91,567 (2023: £52,151). The maximum outstanding in the year was £91,567 (2023: £125,744). Interest of £1,688 (2023: £1,872) was charged on the loan in the year.