General Information
Gauntlet Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 10902354, registration address 30 Plumer Drive, Birkenhead, Wirral, England, CH41 8HN.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and equipment 25% on reducing balance
Fixtures and fittings 25% on reducing balance
Computers 33% on cost
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 1 (2024 : 1).
|
| 3. |
Financial Commitments, Guarantees and Contingencies
The company has entered into a hire purchase agreement. The agreement requires fixed monthly payments of £468.92 over a period of 48 months, with a final option to purchase payment of £17,072.
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 September 2024 |
7,603 |
|
- |
|
16,979 |
|
7,670 |
|
32,252 |
| Additions |
998 |
|
41,940 |
|
- |
|
729 |
|
43,667 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 August 2025 |
8,601 |
|
41,940 |
|
16,979 |
|
8,399 |
|
75,919 |
| Depreciation |
| At 01 September 2024 |
4,766 |
|
- |
|
7,260 |
|
5,295 |
|
17,321 |
| Charge for year |
730 |
|
874 |
|
2,429 |
|
1,280 |
|
5,313 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 August 2025 |
5,496 |
|
874 |
|
9,689 |
|
6,575 |
|
22,634 |
| Net book values |
| Closing balance as at 31 August 2025 |
3,105 |
|
41,066 |
|
7,290 |
|
1,824 |
|
53,285 |
| Opening balance as at 01 September 2024 |
2,837 |
|
- |
|
9,719 |
|
2,374 |
|
14,930 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Prepayments & Accrued Income |
7,384 |
|
22,819 |
| Directors' Current Accounts |
2,615 |
|
1,571 |
|
9,999 |
|
24,390 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Corporation Tax |
24,480 |
|
48,449 |
| PAYE & Social Security |
1,582 |
|
1,067 |
| Accrued Expenses |
0 |
|
720 |
| Obligations under HP/Financial Leases |
5,627 |
|
0 |
|
31,689 |
|
50,236 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Obligations Under HP/Financial Leases |
29,813 |
|
0 |
|
29,813 |
|
0 |
|
| 8. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
13,321 |
|
3,731 |
|
13,321 |
|
3,731 |
|
|
Overdrawn Directors Loan Account
As at the year-end the director A Gann, owed the company £2,615.This advance is made up of various and numerous transactions. The loan is unsecured, interest free with no formal repayment schedule.
|
2
|