Company Registration No. 09499604 (England and Wales)
GATTEN SHOOT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
PAGES FOR FILING WITH REGISTRAR
GATTEN SHOOT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GATTEN SHOOT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2021
31 March 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
46,411
46,214
Investments
4
3,000
3,000
49,411
49,214
Current assets
Debtors
5
4,200
6,240
Creditors: amounts falling due within one year
6
(70,257)
(102,861)
Net current liabilities
(66,057)
(96,621)
Total assets less current liabilities
(16,646)
(47,407)
Creditors: amounts falling due after more than one year
7
(154,750)
(117,325)
Net liabilities
(171,396)
(164,732)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(171,496)
(164,832)
Total equity
(171,396)
(164,732)
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 2021 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 2021
31 March 2021
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 14 December 2021
Mr I K Fox
Director
Company Registration No. 09499604
GATTEN SHOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
- 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
Upper Shadymoor Farm, Stapleton, Shrewsbury, Shropshire, SY5 7AL.
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.
GATTEN SHOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1
Accounting policies
(Continued)
- 4 -
1.6
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
3
3
3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 April 2020
86,536
Additions
15,000
Disposals
(4,000)
At 31 March 2021
97,536
Depreciation and impairment
At 1 April 2020
40,322
Depreciation charged in the year
11,603
Eliminated in respect of disposals
(800)
At 31 March 2021
51,125
Carrying amount
At 31 March 2021
46,411
At 31 March 2020
46,214
4
Fixed asset investments
2021
2020
£
£
Other investments other than loans
3,000
3,000
GATTEN SHOOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 5 -
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
4,200
Prepayments and accrued income
6,240
4,200
6,240
6
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
5,537
9,612
Obligations under finance leases
2,325
9,300
Trade creditors
2,171
3,973
Taxation and social security
20,216
15,166
Other creditors
38,178
62,980
Accruals and deferred income
1,830
1,830
70,257
102,861
7
Creditors: amounts falling due after more than one year
2021
2020
Notes
£
£
Bank loans and overdrafts
39,750
Obligations under finance leases
2,325
Other creditors
115,000
115,000
154,750
117,325
8
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100