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Company Registration No. 13585641 (England and Wales)
3GW LTD Unaudited accounts for the year ended 31 July 2023
3GW LTD Unaudited accounts Contents
Page
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3GW LTD Company Information for the year ended 31 July 2023
Director
William Chu
Company Number
13585641 (England and Wales)
Registered Office
5th Floor 167-169 Great Portland Street London W1W 5PF
Accountants
Tuite Tang Wong Chartered Certified Accountants Alliance House 2nd floor 29-30 High Holborn London WC1V 6AZ
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3GW LTD Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,624 
6,792 
Current assets
Inventories
13,470 
26,115 
Debtors
5,515 
3,680 
Cash at bank and in hand
6,361 
15,397 
25,346 
45,192 
Creditors: amounts falling due within one year
(30,970)
(38,895)
Net current (liabilities)/assets
(5,624)
6,297 
Net assets
- 
13,089 
Capital and reserves
Share premium
1 
1 
Profit and loss account
(1)
13,088 
Shareholders' funds
- 
13,089 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 September 2023 and were signed on its behalf by
William Chu Director Company Registration No. 13585641
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3GW LTD Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
3GW LTD is a private company, limited by shares, registered in England and Wales, registration number 13585641. The registered office is 5th Floor, 167-169 Great Portland Street, London, W1W 5PF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Fixtures & fittings
20% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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3GW LTD Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2022
7,992 
498 
8,490 
Additions
238 
- 
238 
At 31 July 2023
8,230 
498 
8,728 
Depreciation
At 1 August 2022
1,598 
100 
1,698 
Charge for the year
1,326 
80 
1,406 
At 31 July 2023
2,924 
180 
3,104 
Net book value
At 31 July 2023
5,306 
318 
5,624 
At 31 July 2022
6,394 
398 
6,792 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,412 
- 
Accrued income and prepayments
- 
943 
Other debtors
4,103 
2,737 
5,515 
3,680 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
- 
2,708 
Trade creditors
1,755 
585 
Taxes and social security
- 
10,379 
Other creditors
28,815 
24,638 
Accruals
400 
585 
30,970 
38,895 
7
Transactions with related parties
During the year, the director purchased goods of £10,612 (2022: £220,400) on behalf of the company and sold them to the company at the same price. At the year end, the outstanding amount due to the director of the company was £32,702 (2022: £24,138).
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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