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REGISTERED NUMBER: 13687240




















Unaudited Financial Statements

for the Year Ended 31 March 2025

for

K P Gates Limited

K P Gates Limited (Registered number: 13687240)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


K P Gates Limited

Company Information
for the Year Ended 31 March 2025







DIRECTOR: K S Perkins





REGISTERED OFFICE: 6 Fairford Road
Quenington
Cirencester
GL7 1US





REGISTERED NUMBER: 13687240

K P Gates Limited (Registered number: 13687240)

Statement of Financial Position
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,596 33,066

CURRENT ASSETS
Debtors 5 21,283 16,874
Cash at bank 38,000 12,104
59,283 28,978
CREDITORS
Amounts falling due within one year 6 28,059 42,998
NET CURRENT ASSETS/(LIABILITIES) 31,224 (14,020 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,820

19,046

PROVISIONS FOR LIABILITIES 9,813 8,157
NET ASSETS 61,007 10,889

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 61,006 10,888
61,007 10,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 7 August 2025 and were signed by:





K S Perkins - Director


K P Gates Limited (Registered number: 13687240)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

K P Gates Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on straight line basis

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

K P Gates Limited (Registered number: 13687240)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

K P Gates Limited (Registered number: 13687240)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2024 13,177 28,070 775 42,022
Additions 1,980 14,069 1,149 17,198
At 31 March 2025 15,157 42,139 1,924 59,220
DEPRECIATION
At 1 April 2024 3,199 5,614 143 8,956
Charge for year 2,990 7,305 373 10,668
At 31 March 2025 6,189 12,919 516 19,624
NET BOOK VALUE
At 31 March 2025 8,968 29,220 1,408 39,596
At 31 March 2024 9,978 22,456 632 33,066

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 17,474 16,694
CIS Asset 3,629 -
Prepayments and accrued income 180 180
21,283 16,874

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 4,563 1,926
Tax 12,553 -
Social security and other taxes 5,873 -
VAT 3,979 3,398
Other creditors 153 -
Directors' current accounts 253 37,024
Accruals and deferred income 685 650
28,059 42,998

K P Gates Limited (Registered number: 13687240)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2025 and the period ended 31 March 2024:

2025 2024
£    £   
K S Perkins
Balance outstanding at start of year (37,024 ) -
Amounts advanced 36,963 29,771
Amounts repaid - (66,795 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (61 ) (37,024 )