Company Registration No. 09499604 (England and Wales)
GATTEN SHOOT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
GATTEN SHOOT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GATTEN SHOOT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
59,568
48,839
Investments
4
3,000
3,000
62,568
51,839
Current assets
Debtors
5
36,921
25,369
Cash at bank and in hand
4,335
3,830
41,256
29,199
Creditors: amounts falling due within one year
6
(82,614)
(30,663)
Net current liabilities
(41,358)
(1,464)
Total assets less current liabilities
21,210
50,375
Creditors: amounts falling due after more than one year
7
(118,552)
(117,083)
Net liabilities
(97,342)
(66,708)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(97,442)
(66,808)
Total equity
(97,342)
(66,708)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
GATTEN SHOOT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2019
31 March 2019
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 19 December 2019
Mr I K Fox
Director
Company Registration No. 09499604
GATTEN SHOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 3 -
1
Accounting policies
Company information
Gatten Shoot Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Hunters Cottage, Gatten, Pontesbury, Shrewsbury, Shropshire, SY5 0SJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown
gross
of VAT
, less VAT payable under a flat rate scheme.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash at bank and in hand
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 4 (2018 - 4).
GATTEN SHOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 4 -
3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 April 2018
70,054
Additions
36,105
Disposals
(13,105)
At 31 March 2019
93,054
Depreciation and impairment
At 1 April 2018
21,215
Depreciation charged in the year
14,892
Eliminated in respect of disposals
(2,621)
At 31 March 2019
33,486
Carrying amount
At 31 March 2019
59,568
At 31 March 2018
48,839
4
Fixed asset investments
2019
2018
£
£
Investments
3,000
3,000
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 April 2018 & 31 March 2019
3,000
Carrying amount
At 31 March 2019
3,000
At 31 March 2018
3,000
GATTEN SHOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 5 -
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
11,552
-
Other debtors
12,889
12,889
Prepayments and accrued income
12,480
12,480
36,921
25,369
6
Creditors: amounts falling due within one year
2019
2018
£
£
Obligations under finance leases
10,608
5,000
Trade creditors
5,555
8,045
Taxation and social security
14,508
11,340
Other creditors
50,113
4,448
Accruals and deferred income
1,830
1,830
82,614
30,663
7
Creditors: amounts falling due after more than one year
2019
2018
Notes
£
£
Obligations under finance leases
3,552
2,083
Other creditors
115,000
115,000
118,552
117,083
8
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
GATTEN SHOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 6 -
9
Prior period adjustment
The accounts include a prior period adjustment to remove overstated flat rate output vat of £12,640 as at 31 March 2018.
Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 Mar 2018
£
£
£
Creditors due within one year
Taxation
(23,980)
12,640
(11,340)
Capital and reserves
Profit and loss
(79,448)
12,640
(66,808)
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 31 March 2018
£
£
£
Turnover
147,600
12,640
160,240
Loss for the financial period
(36,102)
12,640
(23,462)