Company No: 11856571 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		31.03.2024
		£		£
Current assets
Debtors	3	64,838		47,323
Cash at bank and in hand		6,382		10,475
		71,220		57,798
Creditors: amounts falling due within one year	4	( 53,207)		( 43,959)
Net current assets		18,013		13,839
Total assets less current liabilities		18,013		13,839
Net assets		18,013		13,839
Capital and reserves
Called-up share capital		100		100
Profit and loss account		17,913		13,739
Total shareholder's funds		18,013		13,839

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Gate Insurance Brokers Limited (registered number: 11856571) were approved and authorised for issue by the Board of Directors on 24 November 2025. They were signed on its behalf by:

Jonathan Biles Director

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

Gate Insurance Brokers Limited (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 and principal place of business is 6 The Hophouse, Colchester Road, West Bergholt, CO6 3NW, 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 £.

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.

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.

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 amortised cost.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and investments in ordinary shares.

Revenue

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.

2. Employees

	31.03.2025		31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Debtors

	31.03.2025		31.03.2024
	£		£
Trade debtors	10,141		0
Amounts owed by Group undertakings	54,697		34,697
Amounts owed by directors	0		12,626
	64,838		47,323

4. Creditors: amounts falling due within one year

	31.03.2025		31.03.2024
	£		£
Trade creditors	9,601		0
Taxation and social security	979		946
Other creditors	42,627		43,013
	53,207		43,959

5. Related party transactions

During the year, the company purchased services amounting to £15,600 from Gate Management FZE, a company controlled by Jonathan Biles and registered in the United Arab Emirates. At the year end, Gate Management FZE owed the company £34,697 (2024: £34,697). Of this amount, £15,600 was paid during the year.

During the year, the company incurred expenses on behalf of Blackwood Capital Partners Ltd, a company controlled by Jonathan Biles and registered in Hong Kong, amounting to £20,000 (2024: £Nil). At the year end, Blackwood Capital Partners Ltd owed the company £20,000 (2024: £Nil).

During the year, Iraq Gate Insurance Brokers LLC, a company controlled by Jonathan Biles and registered in Iraq, did not incur any expenses (2024: £40,283). At the year end, the company owed Iraq Gate Insurance Brokers LLC £29,757 (2024: £40,283).

At the year end, a balance of £9,900 was owed to director Edward Garrett, which is included within creditors.

6. Ultimate controlling party

The company is under the control of Jonathan Biles, a director of the company who holds 100% of the issued share capital.