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REGISTERED NUMBER: 06688404 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

C W G GROUP LTD

C W G GROUP LTD (REGISTERED NUMBER: 06688404)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


C W G GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: L M Allan
R A Couch
C Grint





SECRETARY: Mrs D J Norris





REGISTERED OFFICE: Units 1 & 2 Gateway 1000
Whittle Way
Stevenage
Hertfordshire
SG1 2FP





REGISTERED NUMBER: 06688404 (England and Wales)





AUDITORS: Cook & Partners Limited
Statutory Auditor
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

C W G GROUP LTD (REGISTERED NUMBER: 06688404)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,319,246 1,340,797
1,319,246 1,340,797

CURRENT ASSETS
Stocks 11,500 11,500
Debtors 6 3,056,278 1,930,000
Cash at bank and in hand 445,421 883,470
3,513,199 2,824,970
CREDITORS
Amounts falling due within one year 7 2,014,175 1,302,814
NET CURRENT ASSETS 1,499,024 1,522,156
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,818,270

2,862,953

CREDITORS
Amounts falling due after more than one
year

8

(349,333

)

(436,408

)

PROVISIONS FOR LIABILITIES (31,239 ) (23,702 )
NET ASSETS 2,437,698 2,402,843

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 2,437,597 2,402,742
SHAREHOLDERS' FUNDS 2,437,698 2,402,843

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 11th September 2024 and were signed on its behalf by:





C Grint - Director


C W G GROUP LTD (REGISTERED NUMBER: 06688404)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

C W G Group Ltd 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.

Going Concern Justification
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31 March 2024 have been prepared using the going concern basis of accounting.

Revenue
Revenue - Described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services once completed.

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.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance and 20% 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 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.


C W G GROUP LTD (REGISTERED NUMBER: 06688404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

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
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 25 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 360,000
AMORTISATION
At 1st April 2023
and 31st March 2024 360,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

C W G GROUP LTD (REGISTERED NUMBER: 06688404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2023 1,034,809 524,260 1,559,069
Additions - 145,702 145,702
Disposals - (214,426 ) (214,426 )
At 31st March 2024 1,034,809 455,536 1,490,345
DEPRECIATION
At 1st April 2023 - 218,272 218,272
Charge for year - 49,187 49,187
Eliminated on disposal - (96,360 ) (96,360 )
At 31st March 2024 - 171,099 171,099
NET BOOK VALUE
At 31st March 2024 1,034,809 284,437 1,319,246
At 31st March 2023 1,034,809 305,988 1,340,797

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,903,497 664,836
Other debtors 1,152,781 1,265,164
3,056,278 1,930,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,307 18,265
Hire purchase contracts 17,856 57,264
Trade creditors 1,566,020 845,035
Taxation and social security 344,901 250,031
Other creditors 63,091 132,219
2,014,175 1,302,814

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 253,925 337,388
Hire purchase contracts 95,408 99,020
349,333 436,408

C W G GROUP LTD (REGISTERED NUMBER: 06688404)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 149,360 254,040

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 276,232 355,653

These loans are secured by a fixed and floating charge over the company's assets.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Jones (Senior Statutory Auditor)
for and on behalf of Cook & Partners Limited