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REGISTERED NUMBER: 13472125 (England and Wales)






















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GWF LTD

GWF LTD (REGISTERED NUMBER: 13472125)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GWF LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr G Vincent
Mr M Neuhaus





REGISTERED OFFICE: Studio 5, Capability House
Building 31, Wrest Park
Silsoe
Bedfordshire
MK45 4HR





REGISTERED NUMBER: 13472125 (England and Wales)





AUDITORS: GKP (Ampthill) Limited
Statutory Auditor
3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

GWF LTD (REGISTERED NUMBER: 13472125)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 49,712 43,720
Debtors 4 74,488 41,113
Cash at bank and in hand 39,571 61,286
163,771 146,119
CREDITORS
Amounts falling due within one year 5 116,081 90,958
NET CURRENT ASSETS 47,690 55,161
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,690

55,161

CREDITORS
Amounts falling due after more than one
year

6

26,877

40,336
NET ASSETS 20,813 14,825

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 20,812 14,824
20,813 14,825

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 26 September 2024 and were signed on its behalf by:





Mr G Vincent - Director


GWF LTD (REGISTERED NUMBER: 13472125)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

GWF 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.

The directors have assessed the financial health of the company and feel confident that the company will continue as a going concern for the foreseeable future.

The presentation currency of the financial statements is the Pound Sterling (£).

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

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.

GWF LTD (REGISTERED NUMBER: 13472125)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 4 (2022 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 63,644 35,506
Other debtors 4,792 2,104
VAT - 58
Prepayments 6,052 3,445
74,488 41,113

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 69,798 68,432
Tax 1,770 3,703
Social security and other taxes 12,359 11,823
VAT 962 -
Accrued expenses 31,192 7,000
116,081 90,958

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 26,877 40,336

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 3,420 1,700
Between one and five years 1,425 -
4,845 1,700

GWF LTD (REGISTERED NUMBER: 13472125)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Owed to group undertaking 26,877 40,336

All assets of GWF Ltd have been pledged as collateral against any amounts drawn in relation to the intercompany loan agreement.

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

The Report of the Auditors was unqualified.

Stephen Mason BSc FCA (Senior Statutory Auditor)
for and on behalf of GKP (Ampthill) Limited

10. ULTIMATE CONTROLLING PARTY

The immediate parent company and ultimate holding company of the group is GWF AG, a company incorporated in Switzerland. The address of its registered office is Obergrundstrasse 119, 6005 Luzern, Switzerland.

GWF AG is the smallest and largest group of undertakings to consolidate these financial statements as at 31 December 2023. The consolidated financial statements of GWF AG are available from Obergrundstrasse 119, 6005 Luzern, Switzerland.