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REGISTERED NUMBER: 09041215 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30th September 2023

for

Gorswen Limited

Gorswen Limited (Registered number: 09041215)






Contents of the Financial Statements
for the year ended 30th September 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Gorswen Limited

Company Information
for the year ended 30th September 2023







DIRECTORS: M J Leech
H A Leech





REGISTERED OFFICE: 13 Mill Terrace
Pantyffynnon
Ammanford
Carmarthenshire
SA18 3NR





REGISTERED NUMBER: 09041215 (England and Wales)





ACCOUNTANTS: Ashmole & Co
Chartered Certified Accountants
Castle House
High Street
Ammanford
Carmarthenshire
SA18 2NB

Gorswen Limited (Registered number: 09041215)

Abridged Balance Sheet
30th September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,114 16,329

CURRENT ASSETS
Debtors 37,741 28,596
Cash at bank 187 900
37,928 29,496
CREDITORS
Amounts falling due within one year 35,766 40,719
NET CURRENT ASSETS/(LIABILITIES) 2,162 (11,223 )
TOTAL ASSETS LESS CURRENT LIABILITIES 15,276 5,106

CREDITORS
Amounts falling due after more than one
year

(10,540

)

-

PROVISIONS FOR LIABILITIES (2,492 ) (3,103 )
NET ASSETS 2,244 2,003

Gorswen Limited (Registered number: 09041215)

Abridged Balance Sheet - continued
30th September 2023

30.9.23 30.9.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,242 2,001
2,244 2,003

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 20th March 2024 and were signed on its behalf by:





M J Leech - Director


Gorswen Limited (Registered number: 09041215)

Notes to the Financial Statements
for the year ended 30th September 2023

1. STATUTORY INFORMATION

Gorswen 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.

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.
Improvements to property - 10% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Gorswen Limited (Registered number: 09041215)

Notes to the Financial Statements - continued
for the year ended 30th September 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st October 2022
and 30th September 2023 33,869
DEPRECIATION
At 1st October 2022 17,540
Charge for year 3,215
At 30th September 2023 20,755
NET BOOK VALUE
At 30th September 2023 13,114
At 30th September 2022 16,329

Gorswen Limited (Registered number: 09041215)

Notes to the Financial Statements - continued
for the year ended 30th September 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1st October 2022
and 30th September 2023 25,000
DEPRECIATION
At 1st October 2022 14,453
Charge for year 2,637
At 30th September 2023 17,090
NET BOOK VALUE
At 30th September 2023 7,910
At 30th September 2022 10,547