Gate Technologies Af Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Gate Technologies Af Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11115048 . The registered office is 22 Lawrence Road, Hove, BN3 5QB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Reducing balance method
Motor Vehicles	20% Reducing balance method
Fixtures & Fittings	25% Reducing balance method
Computer Equipment	25% Reducing balance method

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Gate Technologies Af Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. 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.

2.10. 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.

2.11. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2025: 2)

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Gate Technologies Af Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2025	54,300	340	1,958	56,598
Additions	-	9,746	1,380	11,126

As at 31 March 2026	54,300	10,086	3,338	67,724

Depreciation
As at 1 April 2025	24,182	288	513	24,983
Provided during the period	6,023	2,043	657	8,723

As at 31 March 2026	30,205	2,331	1,170	33,706

Net Book Value
As at 31 March 2026	24,095	7,755	2,168	34,018

As at 1 April 2025	30,118	52	1,445	31,615

5. Stocks

	2026	2025
	£	£
Work in progress	43,294	84,770

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	58,529	91,123
Prepayments and accrued income	4,539	4,581
VAT	5,724	-
Other taxes and social security	209	-

	69,001	95,704

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	65,123	91,121
Corporation tax	3,247	5,564
Other taxes and social security	-	4,472
VAT	-	4,113
Net wages	2,568	-
Accruals and deferred income	2,354	2,124
Directors' loan accounts	1,381	1,381

	74,673	108,775

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Gate Technologies Af Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

8. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	20	20

9. Reserves

	Other reserves	Profit and Loss Account
	£	£
As at 1 April 2025	(8,317 )	829,439
Profit for the year and total comprehensive income	-	21,637

Dividends paid	-	(100,000)
Movements in other reserves	3,556	-

As at 31 March 2026	(4,761 )	751,076

Other Reserves relates to unrealised gain or loss on foreign transactions converted from the base currency to GBP using the prevailing rate at the financial year end.

10. Related Party Transactions

At the balance sheet date, the company owed Mr Timothy Hodge a director £1,381 (2025 : £1,381) in interest free loan which is repayable on demand.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		34,018		31,615

			34,018		31,615
CURRENT ASSETS
Stocks	5	43,294		84,770
Debtors	6	69,001		95,704
Cash at bank and in hand		674,695		717,828

		786,990		898,302
Creditors: Amounts Falling Due Within One Year	7	(74,673 )		(108,775 )

NET CURRENT ASSETS (LIABILITIES)			712,317		789,527

TOTAL ASSETS LESS CURRENT LIABILITIES			746,335		821,142

NET ASSETS			746,335		821,142

CAPITAL AND RESERVES
Called up share capital	8		20		20
Other reserves			(4,761 )		(8,317 )
Profit and Loss Account			751,076		829,439

SHAREHOLDERS' FUNDS			746,335		821,142