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REGISTERED NUMBER: 06036769 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

G.T. Williams Limited

G.T. Williams Limited (Registered number: 06036769)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G.T. Williams Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: G T Williams
Mrs E J Williams
A Williams





SECRETARY: A Williams





REGISTERED OFFICE: 1 Thomas Buildings
New Street
Pwllheli
Gwynedd
LL53 5HH





REGISTERED NUMBER: 06036769 (England and Wales)





ACCOUNTANTS: Gwyn Thomas and Co Limited
1 Thomas Buildings
New Street
Pwllheli
Gwynedd
LL53 5HH

G.T. Williams Limited (Registered number: 06036769)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 479,621 396,047
479,621 396,047

CURRENT ASSETS
Stocks 211,195 328,921
Debtors 6 767,392 743,346
Cash at bank and in hand 196,556 105
1,175,143 1,072,372
CREDITORS
Amounts falling due within one year 7 548,641 615,053
NET CURRENT ASSETS 626,502 457,319
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,106,123

853,366

CREDITORS
Amounts falling due after more than one
year

8

(221,025

)

(275,451

)

PROVISIONS FOR LIABILITIES (81,021 ) (25,599 )
NET ASSETS 804,077 552,316

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 803,977 552,216
804,077 552,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

G.T. Williams Limited (Registered number: 06036769)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 24 October 2023 and were signed on its behalf by:




A Williams - Director G T Williams - Director




Mrs E J Williams - Director


G.T. Williams Limited (Registered number: 06036769)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

G.T. Williams Limited (Registered number: 06036769)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 39 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 75,000
AMORTISATION
At 1 April 2022
and 31 March 2023 75,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 818,907
Additions 245,598
Disposals (179,497 )
At 31 March 2023 885,008
DEPRECIATION
At 1 April 2022 422,860
Charge for year 123,488
Eliminated on disposal (140,961 )
At 31 March 2023 405,387
NET BOOK VALUE
At 31 March 2023 479,621
At 31 March 2022 396,047

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 429,231 457,643
Other debtors 338,161 285,703
767,392 743,346

G.T. Williams Limited (Registered number: 06036769)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 50,000 136,910
Hire purchase contracts 72,310 59,639
Trade creditors 340,863 309,595
Taxation and social security - 13,703
Other creditors 85,468 95,206
548,641 615,053

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 118,978 168,804
Hire purchase contracts 102,047 106,647
221,025 275,451

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
A Williams
Balance outstanding at start of year 474 42,163
Amounts advanced 4,000 2,474
Amounts repaid (2,600 ) (44,163 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,874 474

10. RELATED PARTY DISCLOSURES

The company operates from premises owned by two directors and they received a rent of £7200 in the year.