Company Registration No. 13585641 (England and Wales)
3GW LTD
Unaudited accounts
for the year ended 31 July 2023
3GW LTD
Unaudited accounts
Contents
3GW LTD
Company Information
for the year ended 31 July 2023
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
3GW LTD
Statement of financial position
as at 31 July 2023
Tangible assets
5,624
6,792
Cash at bank and in hand
6,361
15,397
Creditors: amounts falling due within one year
(30,970)
(38,895)
Net current (liabilities)/assets
(5,624)
6,297
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
3GW LTD
Notes to the Accounts
for the year ended 31 July 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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.
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
At 31 July 2023
8,230
498
8,728
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
At 31 July 2023
5,306
318
5,624
At 31 July 2022
6,394
398
6,792
Amounts falling due within one year
Accrued income and prepayments
-
943
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
-
10,379
Other creditors
28,815
24,638
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).