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REGISTERED NUMBER: 05219796 (England and Wales)
























Financial Statements

for the Year Ended 31 March 2023

for

Gwynne TV & Electrical Services Limited

Gwynne TV & Electrical Services Limited (Registered number: 05219796)






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


Gwynne TV & Electrical Services Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: R G May





REGISTERED OFFICE: 16-20 Benfield Way
Braintree
Essex
CM7 3YS





REGISTERED NUMBER: 05219796 (England and Wales)





ACCOUNTANTS: Baverstocks Group Limited
140 Rayne Road
Braintree
Essex
CM7 2QR

Gwynne TV & Electrical Services Limited (Registered number: 05219796)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,040 32,761

CURRENT ASSETS
Stocks 15,000 8,150
Debtors 5 126,865 89,384
Cash at bank and in hand 77,428 151,768
219,293 249,302
CREDITORS
Amounts falling due within one year 6 179,198 166,855
NET CURRENT ASSETS 40,095 82,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

111,135

115,208

CREDITORS
Amounts falling due after more than one
year

7

(21,667

)

(40,620

)

PROVISIONS FOR LIABILITIES (17,760 ) (6,225 )
NET ASSETS 71,708 68,363

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 71,608 68,263
SHAREHOLDERS' FUNDS 71,708 68,363

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 director acknowledges his 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.

Gwynne TV & Electrical Services Limited (Registered number: 05219796)

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 director and authorised for issue on 9 November 2023 and were signed by:





R G May - Director


Gwynne TV & Electrical Services Limited (Registered number: 05219796)

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

1. STATUTORY INFORMATION

Gwynne TV & Electrical Services 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 represents the value of net invoiced sales of goods and work done excluding value added tax as appropriate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures, fittings & equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Gwynne TV & Electrical Services Limited (Registered number: 05219796)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor Computer
& equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 34,248 50,786 4,477 89,511
Additions - 52,234 3,191 55,425
Disposals - (13,867 ) - (13,867 )
At 31 March 2023 34,248 89,153 7,668 131,069
DEPRECIATION
At 1 April 2022 29,095 26,933 722 56,750
Charge for year 1,030 8,560 859 10,449
Eliminated on disposal - (7,170 ) - (7,170 )
At 31 March 2023 30,125 28,323 1,581 60,029
NET BOOK VALUE
At 31 March 2023 4,123 60,830 6,087 71,040
At 31 March 2022 5,153 23,853 3,755 32,761

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 39,729
Disposals (13,867 )
At 31 March 2023 25,862
DEPRECIATION
At 1 April 2022 18,172
Charge for year 4,299
Eliminated on disposal (7,170 )
At 31 March 2023 15,301
NET BOOK VALUE
At 31 March 2023 10,561
At 31 March 2022 21,557

Gwynne TV & Electrical Services Limited (Registered number: 05219796)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 120,803 81,879
Other debtors - 221
Prepayments 6,062 7,284
126,865 89,384

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 5,922 10,429
Trade creditors 78,937 66,599
Amounts owed to group undertakings 40,155 25,155
Tax 2,445 14,693
Social security and other taxes 30,977 28,825
Other creditors 10,762 11,154
179,198 166,855

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 11,667 21,667
Hire purchase contracts (see note 8) - 8,953
21,667 40,620

Gwynne TV & Electrical Services Limited (Registered number: 05219796)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Gross obligations repayable:
Within one year 6,829 12,067
Between one and five years - 10,356
6,829 22,423

Finance charges repayable:
Within one year 907 1,638
Between one and five years - 1,403
907 3,041

Net obligations repayable:
Within one year 5,922 10,429
Between one and five years - 8,953
5,922 19,382

Non-cancellable operating leases
2023 2022
£    £   
Within one year 8,280 28,045
Between one and five years 24,840 19,755
33,120 47,800

9. ULTIMATE CONTROLLING PARTY

The controlling party is R G May.