Year Ended
Registration number:
Gaining Solutions Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Gaining Solutions Limited
Company Information
Director |
Mr M P Harding |
Registered office |
|
Accountants |
|
Gaining Solutions Limited
Balance Sheet
31 January 2021
Note |
2021 |
2020 |
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
- |
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
- |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
Gaining Solutions Limited
Balance Sheet
31 January 2021
For the financial year ending 31 January 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 10267887
Gaining Solutions Limited
Notes to the Unaudited Financial Statements
Year Ended 31 January 2021
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 Section 1A and the Companies Act 2006. There are no material departures from FRS102.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The director of Gaining Solutions Limited has considered the impact of COVID–19.
In the opinion of the director, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the financial statement have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax and trade discounts and after eliminating sales within the company.
The company recognises revenue when the value of good and services provided to date can be reliably measured.
Government grants
Grant income is accounted for using the accruals method. Revenue grants are recognised on a systematic basis over the periods to which the costs to which the grants relate are recognised. Capital grants are recognised over the useful life of the related asset on the same basis as depreciation is charged.
Gaining Solutions Limited
Notes to the Unaudited Financial Statements
Year Ended 31 January 2021
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Intra-group debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Government grants |
During the year the cmpany received the following government grants:
- £11,869 Coronavirus Job Retention Scheme
The amount of grants recognised in the financial statements was £11,869 (2019 - £nil)
Gaining Solutions Limited
Notes to the Unaudited Financial Statements
Year Ended 31 January 2021
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Debtors |
2021 |
2020 |
|
Trade debtors |
|
|
Other debtors |
|
|
|
|
Gaining Solutions Limited
Notes to the Unaudited Financial Statements
Year Ended 31 January 2021
Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
|
Due within one year |
|||
Loans and borrowings |
|
- |
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
Accruals and deferred income |
|
|
|
|
|
Creditors: amounts falling due after more than one year
Note |
2021 |
2020 |
|
Due after one year |
|||
Loans and borrowings |
|
- |
Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Loans and borrowings |
2021 |
2020 |
|
Loans and borrowings due after one year |
||
Bank borrowings |
|
- |
2021 |
2020 |
|
Current loans and borrowings |
||
Bank overdrafts |
|
- |