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Company registration number: 05653680
G.W.R. LTD
31 December 2023
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
G.W.R. LTD
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
G.W.R. LTD
DIRECTORS AND OTHER INFORMATION
Directors Mr G Price
Mrs R C Price
Mr G E Price
Secretary Mr G E Price
Company number 05653680
Registered office Sleap
Harmer Hill
Shrewsbury
Shropshire
SY4 3HE
Business address Sleap
Harmer Hill
Shrewsbury
Shropshire
SY4 3HE
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
G.W.R. LTD
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF G.W.R. LTD
YEAR ENDED 31 DECEMBER 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G.W.R. LTD for the year ended 31 December 2023 as set out on pages 5 to 12 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of G.W.R. LTD, as a body, in accordance with the terms of our engagement letter dated 16 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of G.W.R. LTD and state those matters that we have agreed to state to the board of directors of G.W.R. LTD as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G.W.R. LTD and its board of directors as a body for our work or for this report.
It is your duty to ensure that G.W.R. LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G.W.R. LTD. You consider that G.W.R. LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of G.W.R. LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
16 April 2024
G.W.R. LTD
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 333 333
Tangible assets 6 385,221 426,824
_______ _______
385,554 427,157
Current assets
Stocks 51,300 60,592
Debtors 7 100,385 93,953
Cash at bank and in hand 30,329 74,515
_______ _______
182,014 229,060
Creditors: amounts falling due
within one year 8 ( 333,247) ( 423,064)
_______ _______
Net current liabilities ( 151,233) ( 194,004)
_______ _______
Total assets less current liabilities 234,321 233,153
Creditors: amounts falling due
after more than one year 9 ( 39,002) ( 63,481)
Provisions for liabilities ( 51,192) ( 61,755)
_______ _______
Net assets 144,127 107,917
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 143,127 106,917
_______ _______
Shareholders funds 144,127 107,917
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 09 April 2024 , and are signed on behalf of the board by:
Mr G Price Mr G E Price
Director Director
Company registration number: 05653680
G.W.R. LTD
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 DECEMBER 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2022 1,000 124,884 125,884
Profit for the year 20,033 20,033
_______ _______ _______
Total comprehensive income for the year - 20,033 20,033
Dividends paid and payable ( 38,000) ( 38,000)
_______ _______ _______
Total investments by and distributions to owners - ( 38,000) ( 38,000)
_______ _______ _______
At 31 December 2022 and 1 January 2023 1,000 106,917 107,917
Profit for the year 90,290 90,290
_______ _______ _______
Total comprehensive income for the year - 90,290 90,290
Dividends paid and payable ( 54,080) ( 54,080)
_______ _______ _______
Total investments by and distributions to owners - ( 54,080) ( 54,080)
_______ _______ _______
At 31 December 2023 1,000 143,127 144,127
_______ _______ _______
G.W.R. LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sleap, Harmer Hill, Shrewsbury, Shropshire, SY4 3HE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property - 2.5 % reducing balance
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2022: 7 ).
5. Intangible assets
Goodwill Other intangible assets Total
£ £ £
Cost
At 1 January 2023 and 31 December 2023 100,000 333 100,333
_______ _______ _______
Amortisation
At 1 January 2023 and 31 December 2023 100,000 - 100,000
_______ _______ _______
Carrying amount
At 31 December 2023 - 333 333
_______ _______ _______
At 31 December 2022 - 333 333
_______ _______ _______
6. Tangible assets
Long leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 January 2023 255,222 553,723 16,449 53,553 878,947
Additions 25,286 493 446 - 26,225
Disposals - ( 76,901) ( 2,091) - ( 78,992)
_______ _______ _______ _______ _______
At 31 December 2023 280,508 477,315 14,804 53,553 826,180
_______ _______ _______ _______ _______
Depreciation
At 1 January 2023 75,419 347,434 12,422 16,849 452,124
Charge for the year 6,801 25,643 566 6,486 39,496
Disposals - ( 48,890) ( 1,771) - ( 50,661)
_______ _______ _______ _______ _______
At 31 December 2023 82,220 324,187 11,217 23,335 440,959
_______ _______ _______ _______ _______
Carrying amount
At 31 December 2023 198,288 153,128 3,587 30,218 385,221
_______ _______ _______ _______ _______
At 31 December 2022 179,803 206,289 4,027 36,704 426,823
_______ _______ _______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 59,701 53,996
Other debtors 40,684 39,957
_______ _______
100,385 93,953
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 63,324 28,262
Trade creditors 78,747 88,415
Corporation tax 36,290 19,700
Social security and other taxes 3,983 19,100
Other creditors 150,903 267,587
_______ _______
333,247 423,064
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 33,213 48,277
Other creditors 5,789 15,204
_______ _______
39,002 63,481
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr G Price ( 60,917) 60,850 ( 67)
Mrs R C Price ( 39,960) 10,019 ( 29,941)
Mr G E Price ( 8,445) 664 ( 7,781)
_______ _______ _______
( 109,322) 71,533 ( 37,789)
_______ _______ _______
2022
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr G Price ( 90,004) 29,087 ( 60,917)
Mrs R C Price ( 42,734) 2,774 ( 39,960)
Mr G E Price ( 15,129) 6,684 ( 8,445)
_______ _______ _______
( 147,867) 38,545 ( 109,322)
_______ _______ _______