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REGISTERED NUMBER: 04704845 (England and Wales)








REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

AWESOME GTI LIMITED

AWESOME GTI LIMITED (REGISTERED NUMBER: 04704845)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 9


AWESOME GTI LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2023







DIRECTORS: Mr M Ash
Mr J Glover
Ms A Ashton
Mr S Barnes





REGISTERED OFFICE: 1 Siemens Road
Northbank Business Park
Irlam
Manchester
M44 5AH





REGISTERED NUMBER: 04704845 (England and Wales)





ACCOUNTANTS: Cadishead Accountancy Services Limited
Britannic House
657 Liverpool Road
Irlam
Manchester
Lancashire
M44 5XD

AWESOME GTI LIMITED (REGISTERED NUMBER: 04704845)

REPORT OF THE DIRECTORS
for the Year Ended 30 April 2023

The directors present their report with the financial statements of the company for the year ended 30 April 2023.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 May 2022 to the date of this report.

The directors shown below were in office at 30 April 2023 but did not hold any interest in the Ordinary shares of £1 each at 1 May 2022 or 30 April 2023.

Mr M Ash
Mr J Glover
Ms A Ashton
Mr S Barnes

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr M Ash - Director


31 January 2024

AWESOME GTI LIMITED (REGISTERED NUMBER: 04704845)

BALANCE SHEET
30 April 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 56,001 56,001
Tangible assets 5 1,410,424 222,560
Investments 6 - 195,000
1,466,425 473,561

CURRENT ASSETS
Stocks 588,280 599,496
Debtors 7 73,685 161,509
Cash at bank and in hand 263,785 298,392
925,750 1,059,397
CREDITORS
Amounts falling due within one year 8 (1,552,501 ) (734,369 )
NET CURRENT (LIABILITIES)/ASSETS (626,751 ) 325,028
TOTAL ASSETS LESS CURRENT
LIABILITIES

839,674

798,589

CREDITORS
Amounts falling due after more than one
year

9

(15,000

)

(43,922

)

PROVISIONS FOR LIABILITIES (199,184 ) (23,475 )
NET ASSETS 625,490 731,192

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 625,370 731,072
SHAREHOLDERS' FUNDS 625,490 731,192

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

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

AWESOME GTI LIMITED (REGISTERED NUMBER: 04704845)

BALANCE SHEET - continued
30 April 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 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 31 January 2024 and were signed on its behalf by:





Mr M Ash - Director


AWESOME GTI LIMITED (REGISTERED NUMBER: 04704845)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Awesome GTI 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.

Preparation of consolidated financial statements
The financial statements contain information about Awesome GTI Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Awesome Evolve Limited, 43 Palomino Close, Lightwood, Stoke, Staffordshire ST3 4UB.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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 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.


AWESOME GTI LIMITED (REGISTERED NUMBER: 04704845)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 196,001
AMORTISATION
At 1 May 2022
and 30 April 2023 140,000
NET BOOK VALUE
At 30 April 2023 56,001
At 30 April 2022 56,001

AWESOME GTI LIMITED (REGISTERED NUMBER: 04704845)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2022 197,277 289,454 63,815
Additions 990,869 174,110 25,299
Disposals - (15,675 ) -
At 30 April 2023 1,188,146 447,889 89,114
DEPRECIATION
At 1 May 2022 118,490 205,739 56,307
Charge for year 64,038 39,770 3,281
Eliminated on disposal - (15,675 ) -
At 30 April 2023 182,528 229,834 59,588
NET BOOK VALUE
At 30 April 2023 1,005,618 218,055 29,526
At 30 April 2022 78,787 83,715 7,508

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2022 139,475 80,564 770,585
Additions 188,458 19,586 1,398,322
Disposals (63,208 ) - (78,883 )
At 30 April 2023 264,725 100,150 2,090,024
DEPRECIATION
At 1 May 2022 93,406 74,083 548,025
Charge for year 39,051 6,513 152,653
Eliminated on disposal (5,403 ) - (21,078 )
At 30 April 2023 127,054 80,596 679,600
NET BOOK VALUE
At 30 April 2023 137,671 19,554 1,410,424
At 30 April 2022 46,069 6,481 222,560

AWESOME GTI LIMITED (REGISTERED NUMBER: 04704845)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2022
and 30 April 2023 85,054
DEPRECIATION
At 1 May 2022 45,363
Charge for year 21,263
At 30 April 2023 66,626
NET BOOK VALUE
At 30 April 2023 18,428
At 30 April 2022 39,691

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.4.23 30.4.22
£    £   
Fixed asset investment - 195,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Amounts owed by group undertakings 30,544 104,461
Other debtors 43,141 57,048
73,685 161,509

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 70,081 50,274
Hire purchase contracts (see note 10) 8,491 12,873
Payments on account 42,921 67,179
Trade creditors 527,635 297,149
Amounts owed to group undertakings 711,436 -
Taxation and social security 90,073 223,466
Other creditors 101,864 83,428
1,552,501 734,369

AWESOME GTI LIMITED (REGISTERED NUMBER: 04704845)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 15,000 31,547
Hire purchase contracts (see note 10) - 12,375
15,000 43,922

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.23 30.4.22
£    £   
Net obligations repayable:
Within one year 8,491 12,873
Between one and five years - 12,375
8,491 25,248

Non-cancellable operating leases
30.4.23 30.4.22
£    £   
Within one year 78,000 56,400
Between one and five years 312,000 153,600
In more than five years - 135,600
390,000 345,600

11. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank overdrafts 53,353 40,525

12. ULTIMATE CONTROLLING PARTY

The controlling party is Awesome Evolve Limited.

The ultimate controlling party is Mr M Ash.