J. Gates Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 08314130 (England and Wales)

J. GATES LTD

FINANCIAL STATEMENTS

FOR THE PERIOD

1 JUNE 2017 TO 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J D Gates

Mrs R S Gates

REGISTERED OFFICE:

Westgate House

Common Road Industrial Estate

Verulam Road

Stafford

Staffordshire

ST16 3EA

REGISTERED NUMBER:

08314130 (England and Wales)

ACCOUNTANTS:

Oldfield Accountants

Santis House

Curriers Close

Coventry

West Midlands

CV4 8AW

FIXED ASSETS

Investments

4

2,413,746

2,034,228

CURRENT ASSETS

Debtors

5

57,392

34,857

Cash at bank

7,201

3,001

64,593

37,858

CREDITORS

Amounts falling due within one year

6

157,419

79,443

NET CURRENT LIABILITIES

(92,826

)

(41,585

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,320,920

1,992,643

CREDITORS

Amounts falling due after more than one
year

7

352,008

NET ASSETS

1,968,912

1,640,635

CAPITAL AND RESERVES

Called up share capital

100

Capital redemption reserve

570,000

Retained earnings

1,398,812

1,070,535

SHAREHOLDERS' FUNDS

1,968,912

1,640,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 August 2018 and were signed on its
behalf by:

Mr J D Gates - Director

1.	STATUTORY INFORMATION

J. Gates 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover comprises revenue recognized by the company in respect of its share of profits and losses

from its investment in Westgate Group partnership.

Pension costs and other post-retirement benefits

The company makes contributions to the personal pension schemes of its directors. The contributions

are charged to the profit and loss account in the period in which they are paid.

Investments

Investments held as fixed assets are shown at cost less provision for impairment. Investments

represent the company's capital account in Westgate Group partnership and are stated at cost, plus

allocated profits, less drawings to date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2017 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2017

£

Cost/valuation b/f

2,034,228

1,908,566

Share of profit/(loss)

422,429

646,196

Drawings

(42,911

)

(520,534

)

2,413,746

2,034,228

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

£

Directors' current accounts

57,392

34,857

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

£

Trade creditors

-

(1

)

Tax

156,219

78,032

Social security and other taxes

-

812

Accrued expenses

1,200

600

157,419

79,443

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2017

£

Preference shares

352,008

The redeemable shares, which were issued at par, are redeemable at par at the option of the

shareholder. There is no fixed date for redemption.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 December 2017

and the year ended 31 May 2017:

2017

£

Mr J D Gates

Balance outstanding at start of period

34,857

73,693

Amounts advanced

22,535

125,964

Amounts repaid

-

(164,800

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

57,392

34,857

The advances detailed above were made on an interest free basis and are repayable on demand.

9.	POST BALANCE SHEET EVENTS

After the balance sheet date, but prior to the approval of the financial statements, the company paid

final dividends for the year ended 31 December 2017 totalling £18,000.

J. Gates Ltd - Accounts to registrar (filleted) - small 17.3

J. Gates Ltd - Accounts to registrar (filleted) - small 17.3