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Registered number: 05655412
Gewait Limited
ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024

Gewait Limited

ACCOUNTS
FOR THEYEARENDED31 MARCH 2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet2
Notes To The Accounts3
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Gewait Limited

BALANCE SHEET AT 31 March 2024
20242023
Notes££
FIXED ASSETS
Tangible assets313,18213,422
Investment Assets418,33518,335
31,51731,757
CURRENT ASSETS
Stock18,92513,452
Debtors6-3,667
Current Asset Investments747,770-
Cash at bank and in hand89,60194,108
156,296111,227
CREDITORS: Amounts falling due within one year840,19511,531
NET CURRENT ASSETS116,10199,696
TOTAL ASSETS LESS CURRENT LIABILITIES147,618131,453
CAPITAL AND RESERVES
Called up share capital910,00010,000
Profit and loss account137,618121,453
SHAREHOLDERS' FUNDS147,618131,453
For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 16 October 2024 and signed on their behalf by
.............................
Mr G N Watts
Director

Gewait Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures and Fittingsreducing balance 15%
Equipmentreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Investments
Fixed asset investments are shown at cost less amounts written off.
Provisions are made for permanent fluctuations in value.
1e. Leases
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

Gewait Limited

2. EMPLOYEES
20242023
NumberNumber
Average number of employees11
3. TANGIBLE FIXED ASSETS
Land AndPlant and
BuildingsMachinery Etc.Total
£££
Cost
At 1 April 202311,9664,05916,025
At 31 March 202411,9664,05916,025
Depreciation
At 1 April 2023-2,6032,603
For the year-240240
At 31 March 2024-2,8432,843
Net Book Amounts
At 31 March 202411,9661,21613,182
At 31 March 202311,9661,45613,422
4. FINANCIAL ASSETS
Shares in group companies
and participating interestsTotal
££
Cost
At 1 April 202318,33518,335
At 31 March 202418,33518,335
Amortisation
Net Book Amounts
At 31 March 202418,33518,335
At 31 March 202318,33518,335
5. STOCK 20242023
££
Stock comprises:
Stock18,92513,452
18,92513,452

Gewait Limited

6. DEBTORS 20242023
££
Amounts falling due within one year:
Other debtors-3,667
-3,667
7. CURRENT ASSET INVESTMENTS
20242023
££
Investments47,770-
47,770-
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Taxation and social security3,3063,154
Other creditors36,8898,377
40,19511,531
9. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
10000 Ordinary shares of £1 each1000010000
10,00010,000