Gateway Capital Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04892256 (England and Wales)

GATEWAY CAPITAL LTD

Unaudited Financial Statements

for the Year Ended 31 December 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P Wadsworth

REGISTERED OFFICE:

11 New Street

Pontnewydd

Cwmbran

NP44 1EE

REGISTERED NUMBER:

04892256 (England and Wales)

ACCOUNTANTS:

Griffiths Green Arnold

11 New Street

Pontnewydd

Cwmbran

NP44 1EE

CURRENT ASSETS

Debtors

4

1,131,659

1,030,209

Cash at bank

5,776

5,002

1,137,435

1,035,211

CREDITORS

Amounts falling due within one year

5

1,084,668

1,015,501

NET CURRENT ASSETS

52,767

19,710

TOTAL ASSETS LESS CURRENT LIABILITIES

52,767

19,710

CREDITORS

Amounts falling due after more than one year

6

32,000

-

NET ASSETS

20,767

19,710

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

20,766

19,709

20,767

19,710

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 16 June 2021 and were signed by:

P Wadsworth - Director

1.	STATUTORY INFORMATION

Gateway Capital Ltd is a private company, limited by shares , registered in England and Wales. 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

1,131,159

1,030,209

Other debtors

500

-

1,131,659

1,030,209

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

410,941

179,947

Amounts owed to group undertakings

539,089

284,089

Taxation and social security

13,149

8,389

Other creditors

121,489

543,076

1,084,668

1,015,501

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

32,000

-