Company No: 11856571 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	J D F Biles
	E J S Garrett

Registered office	2nd Floor 168 Shoreditch High Street
	London
	E1 6RA
	United Kingdom

Company number

11856571 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA

	Note	31.03.2026		31.03.2025
		£		£
Current assets
Debtors	3	51,577		64,838
Cash at bank and in hand		44,915		6,382
		96,492		71,220
Creditors: amounts falling due within one year	4	( 64,074)		( 53,207)
Net current assets		32,418		18,013
Total assets less current liabilities		32,418		18,013
Net assets		32,418		18,013
Capital and reserves
Called-up share capital	5	10,000		100
Profit and loss account		22,418		17,913
Total shareholder's funds		32,418		18,013

For the financial year ending 31 March 2026 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 17 October 2026. They were signed on its behalf by:

J D F 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 is 2nd Floor 168 Shoreditch High Street, London, E1 6RA, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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:

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.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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 cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	31.03.2026		31.03.2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Debtors

	31.03.2026		31.03.2025
	£		£
Trade debtors	0		10,141
Amounts owed by connected companies	51,577		54,697
	51,577		64,838

4. Creditors: amounts falling due within one year

	31.03.2026		31.03.2025
	£		£
Trade creditors	29,760		9,601
Amounts owed to directors	0		9,900
Accruals	3,500		2,970
Taxation and social security	1,057		979
Other creditors	29,757		29,757
	64,074		53,207

5. Called-up share capital

	31.03.2026		31.03.2025
	£		£
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each (31.03.2025: 100 shares of £ 1.00 each)	10,000		100

During the financial year, Ordinary shares with an aggregate nominal value of £9,900 were allotted to clear a loan balance with a director and so no consideration was received in the period.

6. Related party transactions

Transactions with the entity's directors

During the year the company repaid £9,900 to a director through the issue of 9,900 ordinary shares of £1. At the reporting date, the company owed £Nil (2025: £9,900) to a director.

Other related party transactions

During the year, the Company purchased services amounting to £18,720 and made repayments of £15,600 to Gate Management FZE, a company under common control and registered in the United Arab Emirates. At the reporting date, Gate Management FZE owed the Company £31,577 (2025: £34,697).

During the year, the Company incurred expenses totaling £NIL (2025: £20,000) on behalf of Blackwood Capital Partners Limited, a company under common control and registered in Hong Kong. At the reporting date, Blackwood Capital Partners Limited owed the Company £20,000 (2025: £20,000).

During the year, the Company incurred expenses of £NIL (2025: £NIL) on behalf of Iraq Gate Insurance Brokers LLC, a company under common control and registered in Iraq. At the reporting date, the Company owed Iraq Gate Insurance Brokers LLC £29,757 (2025: £29,757).

7. 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.