Gateway PFI Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC267372 (Scotland)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

GATEWAY PFI LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R G Jack

D R Spiller

J S Richards

SECRETARY:

Dentons Secretaries Limited

REGISTERED OFFICE:

Quartermile One

15 Lauriston Place

Edinburgh

EH3 9EP

BUSINESS ADDRESS:

Pirnhall Business Park

200 Glasgow Road

Stirling

FK7 8ES

REGISTERED NUMBER:

SC267372 (Scotland)

AUDITORS:

Consilium Audit Limited (Statutory Auditor)

169 West George Street

Glasgow

G2 2LB

SOLICITORS:

Dentons UK and Middle East LLP

1 George Square

Glasgow

G2 1AL

FIXED ASSETS

Investments

4

833,421

833,421

CURRENT ASSETS

Debtors

5

67,101

56,334

Cash at bank

40,430

59,411

107,531

115,745

CREDITORS

Amounts falling due within one year

6

51,769

46,381

NET CURRENT ASSETS

55,762

69,364

TOTAL ASSETS LESS CURRENT LIABILITIES

889,183

902,785

CAPITAL AND RESERVES

Called up share capital

7

210,200

210,200

Capital redemption reserve

570,000

570,000

Retained earnings

108,983

122,585

SHAREHOLDERS' FUNDS

889,183

902,785

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 on 5 November 2019 and were signed on its behalf by:

D R Spiller - Director

1.	STATUTORY INFORMATION

Gateway PFI Limited is a private company, limited by shares , registered in Scotland. The company's registered number and

registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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

The turnover shown in the Income Statement represents the value of all management fees invoiced in the year, exclusive

of Value Added Tax. Sales are recognised at the point at which the Company has fulfilled its contractual obligations to the

customer.

Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments,

according to the substance of the contractual arrangement.

Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at

principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the

outstanding balance and are amortised over the period to the due date for repayment of the financial liability.

An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of

its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated

financial instrument.

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

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.

Fixed asset investments

Investments are stated at cost less provision for impairment, if such a reduction is deemed to be of a permanent nature.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2018

and 31 March 2019

833,421

NET BOOK VALUE

At 31 March 2019

833,421

At 31 March 2018

833,421

Investments comprise shares in unlisted companies of £6,250 and loan notes of £827,171.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

10,800

-

Other debtors

56,301

56,334

67,101

56,334

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

4,102

2,893

Taxation and social security

42,184

37,794

Other creditors

5,483

5,694

51,769

46,381

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

30,000

Ordinary A

£1

30,000

30,000

180,000

Ordinary B

£1

180,000

180,000

20,000

Ordinary C

£0.01

200

200

210,200

210,200

All classes of ordinary shares rank pari passu in all respects.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Holt (Senior Statutory Auditor)

for and on behalf of Consilium Audit Limited (Statutory Auditor)

9.	RELATED PARTY DISCLOSURES

The following transactions with related parties took place during the year:

2019

2018

£

£

Sales to company in which Gateway PFI Limited holds an investment

150,834

136,345

Dividends received from company in which Gateway PFI Limited holds an investment

48,402

76,836

Interest received on loan notes from company in which Gateway PFI Limited holds an investment

111,668

111,668

Management fee paid to company under common ownership

32,800

32,000

Amount owed from associated company

10,800

-

No other transactions with related parties were undertaken such as are required to be disclosed under the provisions of

Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland".

10.	ULTIMATE CONTROLLING PARTY

The Company was under the control of the holders of the ordinary shares throughout the current and prior year. No

individual shareholder has a controlling interest in the Company.