Gatehouse Developments Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: SC192278 (Scotland)

Financial Statements for the Year Ended 31 January 2022

for

Gatehouse Developments Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J F Marshall

SECRETARY:

Mrs L Marshall

REGISTERED OFFICE:

4 Inverallan Road

Bridge Of Allan

Stirling

FK9 4JA

REGISTERED NUMBER:

SC192278 (Scotland)

CURRENT ASSETS

Stocks

549,709

Cash at bank

38

549,747

CREDITORS

Amounts falling due within one year

4

26,065

NET CURRENT ASSETS

523,682

TOTAL ASSETS LESS CURRENT
LIABILITIES

523,682

CREDITORS

Amounts falling due after more than one
year

5

483,760

NET ASSETS

39,922

CAPITAL AND RESERVES

Called up share capital

6

2

Retained earnings

7

39,920

SHAREHOLDERS' FUNDS

39,922

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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 13 January 2023 and were signed by:

J F Marshall - Director

1.	STATUTORY INFORMATION

Gatehouse Developments Ltd. 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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

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.

Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturity of three months or less and bank overdrafts. Bank overdrafts are shown within borrowing in current liabilities.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognized as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

Other creditors

26,065

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2022

2021

£

Other creditors

483,760

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

2

Ordinary

£1

2

7.

RESERVES

Retained

earnings

£

At 1 February 2021

39,920

Profit for the year

-

At 31 January 2022

39,920

Gatehouse Developments Ltd. - Accounts to registrar (filleted) - small 22.3

Gatehouse Developments Ltd. - Accounts to registrar (filleted) - small 22.3