Gatring Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02800150

Gatring Ltd

Filleted Unaudited Financial Statements

31 December 2024

Gatring Ltd

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5	151,588	151,588
Investments	6	585,060	705,060
		---------	---------
		736,648	856,648

Current assets

Debtors	7	1,167	134,249
Cash at bank and in hand		4,447,674	4,168,877
		------------	------------
		4,448,841	4,303,126

Creditors: amounts falling due within one year	8	52,775		116,260
		------------		------------
Net current assets			4,396,066	4,186,866
			------------	------------
Total assets less current liabilities			5,132,714	5,043,514
			------------	------------
Net assets			5,132,714	5,043,514
			------------	------------

Capital and reserves

Called up share capital	21,328	21,328
Share premium account	90,945	90,945
Profit and loss account	5,020,441	4,931,241
	------------	------------
Shareholders funds	5,132,714	5,043,514
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the 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.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

Gatring Ltd

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

Mr E McElligott

Director

Company registration number: 02800150

Gatring Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fancy House, Finchingfield, Braintree, Essex, CM7 4HZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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 .

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Land and buildings
	£
Cost
At 1 January 2024 and 31 December 2024	151,588
	---------
Depreciation
At 1 January 2024 and 31 December 2024	–
	---------
Carrying amount
At 31 December 2024	151,588
	---------
At 31 December 2023	151,588
	---------

6. Investments

	Shares in group undertakings	Loans to group undertakings	Other investments other than loans	Other loans	Total
	£	£	£	£	£
Cost
At 1 January 2024	10,060	500,000	75,000	120,000	705,060
Disposals	–	–	–	( 120,000)	(120,000)
	--------	---------	--------	---------	---------
At 31 December 2024	10,060	500,000	75,000	–	585,060
	--------	---------	--------	---------	---------
Impairment
At 1 January 2024 and 31 December 2024	–	–	–	–	–
	--------	---------	--------	---------	---------

Carrying amount
At 31 December 2024	10,060	500,000	75,000	–	585,060
	--------	---------	--------	---------	---------
At 31 December 2023	10,060	500,000	75,000	120,000	705,060
	--------	---------	--------	---------	---------

	2024	2023
	£	£
Investment in Dove House Five Ltd and Dove House Six Ltd	10,060	10,060
Investment in Arefay North Ltd	75,000	75,000

1,000,000 £1 Redeemable Preference Shares ( AC Insulation)	120,000	550,000
Loan to Dove House Five Ltd and Dove House Six Ltd	500,000	500,000
NET BOOK VALUE
At 31 December 2021 & 2020	705,060	1,135,060

7. Debtors

	2024	2023
	£	£
Trade debtors	1,167	70,210
Other debtors	–	64,039
	-------	---------
	1,167	134,249
	-------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	–	66,638
Amounts owed to group undertakings and undertakings in which the company has a participating interest	4,099	3,528
Corporation tax	45,151	39,589
Social security and other taxes	350	3,330
Other creditors	3,175	3,175
	--------	---------
	52,775	116,260
	--------	---------

9. Related party transactions

The company was under the control of Mr E McElligott throughout the current and previous year. Mr McElligott is the managing director and majority shareholder. A dividend of £60,785 was paid in March 2024.