REGISTERED NUMBER: 09446912 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

GLADSTONE STREET LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Wright

J MacNamara

SECRETARY:

REGISTERED OFFICE:

Suite 6.16 Fuel Studios

Kiln House

Pottergate

Norwich

Norfolk

NR2 1DX

REGISTERED NUMBER:

09446912 (England and Wales)

ACCOUNTANTS:

Quinneys

Chartered Certified Accountants

Saxon House

Hellesdon Park Road

Norwich

Norfolk

NR6 5DR

FIXED ASSETS

Tangible assets

4

26,702

7,111

CURRENT ASSETS

Debtors

5

72,897

90,159

Cash at bank

-

18,654

72,897

108,813

CREDITORS

Amounts falling due within one year

6

215,100

57,044

NET CURRENT (LIABILITIES)/ASSETS

(142,203

)

51,769

TOTAL ASSETS LESS CURRENT LIABILITIES

(115,501

)

58,880

CREDITORS

Amounts falling due after more than one year

7

(62,801

)

(58,042

)

PROVISIONS FOR LIABILITIES

(969

)

-

NET (LIABILITIES)/ASSETS

(179,271

)

838

CAPITAL AND RESERVES

Called up share capital

63

63

Share premium

39,988

39,988

Retained earnings

(219,322

)

(39,213

)

SHAREHOLDERS' FUNDS

(179,271

)

838

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 directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

S J Wright - Director

1.	STATUTORY INFORMATION

Gladstone Street Ltd is a private company, limited by shares , registered in England and Wales. 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.

Fixtures and Fittings - 20% straight line

Computer Equipment - 20% straight line

Land and Buildings - 10% straight line

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

Going concern

Despite the losses made and the deficit in shareholders' funds, the directors consider the Company to be a going concern.

The Company's financial position, including reviewing post year management information, has been evaluated. The directors consider that with ongoing shareholder support and improved trading the Company will have sufficient cash to meet its liabilities on or around the due dates. This improved trading position will mean that the Company will be able to fulfil its commitments to suppliers and customers and return to being profitable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

-

17,811

17,811

Additions

24,000

1,058

25,058

At 31 March 2025

24,000

18,869

42,869

DEPRECIATION

At 1 April 2024

-

10,700

10,700

Charge for year

2,400

3,067

5,467

At 31 March 2025

2,400

13,767

16,167

NET BOOK VALUE

At 31 March 2025

21,600

5,102

26,702

At 31 March 2024

-

7,111

7,111

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

41,931

28,322

Other debtors

30,966

61,837

72,897

90,159

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

13,182

16,673

Trade creditors

19,037

8,773

Taxation and social security

144,234

29,948

Other creditors

38,647

1,650

215,100

57,044

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

62,801

58,042

8.	RELATED PARTY DISCLOSURES

As at the year end there was a loan to the company from the director S Wright of £17,867 (2024: £20,659 owing from the director) there was also a loan from the company to the director J Macnamara of £1,010 (2024: £400 owing to the director)

As at the year end there was an amount of £16,455 owing to a connected company in respect of loans received from them.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is the director S Wright who controls 70% of the issued share capital.