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REGISTERED NUMBER: 06036769 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

G.T. Williams Limited

G.T. Williams Limited (Registered number: 06036769)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G.T. Williams Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr G T Williams
Mrs E J Williams
Mr A Williams





SECRETARY: Mr A Williams





REGISTERED OFFICE: 1 Thomas Buildings
New Street
Pwllheli
Gwynedd
LL53 5HH





REGISTERED NUMBER: 06036769 (England and Wales)





ACCOUNTANTS: Gwyn Thomas and Co Limited
1 Thomas Buildings
New Street
Pwllheli
Gwynedd
LL53 5HH

G.T. Williams Limited (Registered number: 06036769)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 722,022 479,621
722,022 479,621

CURRENT ASSETS
Stocks 273,574 211,195
Debtors 6 527,588 767,392
Cash at bank and in hand 332,178 196,556
1,133,340 1,175,143
CREDITORS
Amounts falling due within one year 7 502,622 548,641
NET CURRENT ASSETS 630,718 626,502
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,352,740

1,106,123

CREDITORS
Amounts falling due after more than one
year

8

(178,402

)

(221,025

)

PROVISIONS FOR LIABILITIES (135,443 ) (81,021 )
NET ASSETS 1,038,895 804,077

CAPITAL AND RESERVES
Called up share capital 62 100
Capital redemption reserve 38 -
Retained earnings 1,038,795 803,977
1,038,895 804,077

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

G.T. Williams Limited (Registered number: 06036769)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:




Mr A Williams - Director Mr G T Williams - Director




Mrs E J Williams - Director Mr H Williams - Director


G.T. Williams Limited (Registered number: 06036769)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

G.T. Williams 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.

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.
Plant and machinery etc - 25% 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
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.

G.T. Williams Limited (Registered number: 06036769)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 75,000
AMORTISATION
At 1 April 2023
and 31 March 2024 75,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 885,008
Additions 428,649
Disposals (33,750 )
At 31 March 2024 1,279,907
DEPRECIATION
At 1 April 2023 405,387
Charge for year 173,773
Eliminated on disposal (21,275 )
At 31 March 2024 557,885
NET BOOK VALUE
At 31 March 2024 722,022
At 31 March 2023 479,621

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 229,356 429,231
Other debtors 298,232 338,161
527,588 767,392

G.T. Williams Limited (Registered number: 06036769)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 120,625 72,310
Trade creditors 216,014 340,863
Taxation and social security 36,557 -
Other creditors 79,426 85,468
502,622 548,641

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 68,154 118,978
Hire purchase contracts 110,248 102,047
178,402 221,025

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr A Williams
Balance outstanding at start of year 1,874 474
Amounts advanced 3,985 4,000
Amounts repaid (1,874 ) (2,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,985 1,874

10. RELATED PARTY DISCLOSURES

The company operates from premises owned by two directors and they received a rent of £7200 in the year.