GT Gates Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

GT Gates Ltd

Company Information

Directors

Mr D Salway Mr G Johnson Mr S O'Brien

Registered office

Unit 9 Lower Rectory Farm Mill Lane Great Brickhill Milton Keynes Buckinghamshire MK17 9FX

Accountants

Michael J Emery & Co Limited Chartered Accountants22 St. John Street Newport Pagnell Buckinghamshire MK16 8HJ

GT Gates Ltd

(Registration number: 12070473)
Balance Sheet as at 30 June 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	29,060	40,010
Current assets
Stocks		3,500	4,500
Debtors	5	34,382	39,143
Cash at bank and in hand		96,258	92,086
		134,140	135,729
Creditors: Amounts falling due within one year	6	(89,608)	(96,998)
Net current assets		44,532	38,731
Total assets less current liabilities		73,592	78,741
Provisions for liabilities		(7,265)	(10,002)
Net assets		66,327	68,739
Capital and reserves
Called up share capital		200	200
Retained earnings		66,127	68,539
Shareholders' funds		66,327	68,739

GT Gates Ltd

(Registration number: 12070473)
Balance Sheet as at 30 June 2026

For the financial year ending 30 June 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 September 2026 and signed on its behalf by:
 

......................................... Mr D Salway Director

......................................... Mr G Johnson Director

GT Gates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 9 Lower Rectory Farm
Mill Lane
Great Brickhill
Milton Keynes
Buckinghamshire
MK17 9FX

These financial statements were authorised for issue by the Board on 10 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

GT Gates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance
Plant and machinery	At varying rates on cost
Computer Equipment	33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

GT Gates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

GT Gates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company during the year, including directors, was 7 (2025 - 7).

4	Tangible assets

	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2025	45,945	535	21,250	67,730
Additions	2,366	-	-	2,366
At 30 June 2026	48,311	535	21,250	70,096
Depreciation
At 1 July 2025	19,379	193	8,148	27,720
Charge for the year	9,861	179	3,276	13,316
At 30 June 2026	29,240	372	11,424	41,036
Carrying amount
At 30 June 2026	19,071	163	9,826	29,060
At 30 June 2025	26,566	342	13,102	40,010

GT Gates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

5

Debtors

	2026 £	2025 £
Trade debtors	28,312	31,234
Other debtors	688	849
Prepayments	5,382	7,060
	34,382	39,143

6

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	27,551	43,764
Taxation and social security	59,736	49,832
Accruals and deferred income	1,101	2,001
Other creditors	1,220	1,401
	89,608	96,998