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REGISTERED NUMBER: 08253676 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Gwsim Limited

Gwsim Limited (Registered number: 08253676)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gwsim Limited

Company Information
for the Year Ended 31 December 2022







DIRECTOR: MR F Pirinoli





REGISTERED OFFICE: Holden House
57 Rathbone Place
London
W1T 1JU





REGISTERED NUMBER: 08253676 (England and Wales)






Gwsim Limited (Registered number: 08253676)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,679 36,594
Investments 5 124,916 12,183
149,595 48,777

CURRENT ASSETS
Debtors 6 512,018 167,977
Cash at bank 173,382 544,777
685,400 712,754
CREDITORS
Amounts falling due within one year 7 388,235 582,509
NET CURRENT ASSETS 297,165 130,245
TOTAL ASSETS LESS CURRENT
LIABILITIES

446,760

179,022

CREDITORS
Amounts falling due after more than one
year

8

207,281

250,755
NET ASSETS/(LIABILITIES) 239,479 (71,733 )

CAPITAL AND RESERVES
Called up share capital 751 750
Retained earnings 238,728 (72,483 )
239,479 (71,733 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

Gwsim Limited (Registered number: 08253676)

Balance Sheet - continued
31 December 2022


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 28 March 2024 and were signed by:





MR F Pirinoli - Director


Gwsim Limited (Registered number: 08253676)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Gwsim 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.

Equipment - 25% straight line

Investments in associates
Investments in associate undertakings are recognised at cost less any provision for impairment.

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.

Going concern
These accounts have been prepared on the going concern basis. The director is of the opinion that the shareholders of the company will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the forseable future, being for a period of at least twelve months from the date of approval of the financial statements.

Gwsim Limited (Registered number: 08253676)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022 68,665
Exchange differences (718 )
At 31 December 2022 67,947
DEPRECIATION
At 1 January 2022 32,071
Charge for year 11,197
At 31 December 2022 43,268
NET BOOK VALUE
At 31 December 2022 24,679
At 31 December 2021 36,594

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 January 2022
and 31 December 2022 473,913
PROVISIONS
At 1 January 2022 461,730
Provision for year (112,733 )
At 31 December 2022 348,997
NET BOOK VALUE
At 31 December 2022 124,916
At 31 December 2021 12,183

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 194,488 16,000
Other debtors 317,530 151,977
512,018 167,977

Gwsim Limited (Registered number: 08253676)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 47,907 459,106
Taxation and social security 14,293 -
Other creditors 326,035 123,403
388,235 582,509

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 68,333 88,333
Other creditors 138,948 162,422
207,281 250,755

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 68,333 88,333