Good Gate Media Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 11507666

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		123,769		151,357
Tangible Assets	5		321		511

			124,090		151,868
CURRENT ASSETS
Debtors	6	453,129		88,573
Cash at bank and in hand		75,995		1,383

		529,124		89,956
Creditors: Amounts Falling Due Within One Year	7	(235,625 )		(93,962 )

NET CURRENT ASSETS (LIABILITIES)			293,499		(4,006 )

TOTAL ASSETS LESS CURRENT LIABILITIES			417,589		147,862

Creditors: Amounts Falling Due After More Than One Year	8		(18,647 )		(21,604 )

NET ASSETS			398,942		126,258

CAPITAL AND RESERVES
Called up share capital	9		104		104
Share premium account			100,016		100,016
Other reserves			65,000		65,000
Profit and Loss Account			233,822		(38,862 )

SHAREHOLDERS' FUNDS			398,942		126,258

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Good Gate Media Ltd

Balance Sheet (continued)

As At 31 December 2024

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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr John Giwa-Amu

Director

30 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Good Gate Media Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11507666 . The registered office is Unit D, Tramshed Tech, Pendyris Street, Cardiff, CF11 6BH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover relates to the production of a film. It represents the value of work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT.

The value of work done in relation to long-term contracts and continuing services is determined by reference to the stage of completion of the relevant contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are anticipated income from "The Complex". This asset will be amortised as the income is recongised over the course of the next 12 months.

2.4. Intangible Fixed Assets and Amortisation - Intellectual Property

Intellectual property assets are the set up costs of the business. It is amortised to the profit and loss account over its estimated economic life of 10 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

33% reducing balance

2.6. Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

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Good Gate Media Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Other	Intellectual Property	Total
	£	£	£
Cost
As at 1 January 2024	65,000	142,063	207,063
Disposals	-	(2,971 )	(2,971 )

As at 31 December 2024	65,000	139,092	204,092

Amortisation
As at 1 January 2024	32,306	23,400	55,706
Provided during the period	10,450	-	10,450
Impairment losses	-	14,167	14,167

As at 31 December 2024	42,756	37,567	80,323

Net Book Value
As at 31 December 2024	22,244	101,525	123,769

As at 1 January 2024	32,694	118,663	151,357

5. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2024	574

As at 31 December 2024	574

Depreciation
As at 1 January 2024	63
Provided during the period	190

As at 31 December 2024	253

Net Book Value
As at 31 December 2024	321

As at 1 January 2024	511

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Good Gate Media Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	78,047	2,446
Prepayments and accrued income	-	4,218
Other debtors	15	15
Other taxes and social security	3,807	1,801
Amounts owed by group undertakings	339,736	58,789
Amounts owed by associates	31,524	21,304

	453,129	88,573

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	7,539	15,341
Bank loans and overdrafts	5,823	7,851
Other loans	100,000	-
VAT	11,388	2,256
Net wages	-	4,489
Other creditors	91,014	-
Director's loan account	-	4,542
Amounts owed to group undertakings	18,598	54,824
Amounts owed to associates	1,263	4,659

	235,625	93,962

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	18,647	21,604

10. Related Party Transactions

The company owed £1,166.73 to Quiz Night Interactive Limited, £1,262.66 to Kindar Productions Limited, £17,434.64 to Daters Limitedat the balance sheet date, companies owned by J Giwa- Amu.

The company was owed £6,098.60 by Don't Knock Twice Limited, £35,892.68 by Good Gate Developments Limited, £33,566.00 by Ancient Others Interactive Limited, £84,691.25 by Ten Dates Films Limited and £53,765.87 by True Crime Limited, £25,424.94 by AGU Holdings Limited, £131,820.44 by How May I Assist Limited at the balance sheet date, companies owned by J Giwa- Amu.

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