| Gagestyle Ltd |
| Registered number: |
02019724 |
| Balance Sheet |
| as at 5 April 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
10,000 |
|
|
10,000 |
|
| Current assets |
| Cash at bank and in hand |
|
|
5,864 |
|
|
5,445 |
|
| Creditors: amounts falling due within one year |
4 |
|
(12,773) |
|
|
(12,712) |
|
| Net current liabilities |
|
|
|
(6,909) |
|
|
(7,267) |
|
| Total assets less current liabilities |
|
|
|
3,091 |
|
|
2,733 |
|
| Provisions for liabilities |
| Deferred tax |
5 |
|
|
- |
|
|
(3,000) |
|
|
| Net assets/(liabilities) |
|
|
|
3,091 |
|
|
(267) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Revaluation reserve |
6 |
|
|
8,862 |
|
|
5,862 |
| Profit and loss account |
|
|
|
(5,871) |
|
|
(6,229) |
|
| Shareholders' funds |
|
|
|
3,091 |
|
|
(267) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| D J Lewis |
| Director |
| Approved by the board on 17 December 2025 |
|
| Gagestyle Ltd |
| Notes to the Accounts |
| for the year ended 5 April 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention, as modified for the use of fair value for investment property, and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. This company's income from services is rental income and is recognised evenly over the period of the lease. |
|
|
Investment property |
|
Investment property is carried at fair value determined annually from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the natue, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account. No depreciation is charged. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Freehold investment property |
| £ |
|
Cost or fair value |
|
At 6 April 2024 |
10,000 |
|
At 5 April 2025 |
10,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 6 April 2024 and at 5 April 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 5 April 2025 |
10,000 |
|
At 5 April 2024 |
10,000 |
|
|
|
|
|
|
|
|
|
|
The 2024 and 2025 estimates of fair value were made by Molyneux Management Services Ltd, a related party, on an open market, existing use basis. |
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
1,138 |
|
1,138 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
1,138 |
|
1,138 |
|
|
| 4 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Other creditors |
12,773 |
|
12,712 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Deferred taxation provision |
| £ |
|
|
At 6 April 2024 |
3,000 |
|
Deferred tax (credit) to profit and loss in year |
(3,000) |
|
At 5 April 2025 |
- |
|
|
|
|
|
|
|
|
|
|
The provision for deferred tax relates to the revaluation of investment property. |
|
|
| 6 |
Revaluation reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 6 April 2024 |
5,862 |
|
5,862 |
|
Transfer from profit and loss reserve, net of deferred tax |
|
3,000 |
|
- |
|
At 5 April 2025 |
8,862 |
|
5,862 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
Gagestyle Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Catherine House |
|
76 Gloucester Place |
|
London |
|
W1U 6HJ |