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REGISTERED NUMBER: 04930591 (England and Wales)















G.W.Interiors (South Wales) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






G.W.Interiors (South Wales) Limited (Registered number: 04930591)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G.W.Interiors (South Wales) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J Horsnell
M Ljubojevic
R S Oakley





REGISTERED OFFICE: Unit 17 Taff Business Centre
Tonteg Road
Treforest
Mid Glamorgan
CF37 5UA





REGISTERED NUMBER: 04930591 (England and Wales)





ACCOUNTANTS: O'Brien and Partners
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

G.W.Interiors (South Wales) Limited (Registered number: 04930591)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,170 14,913
11,170 14,913

CURRENT ASSETS
Stocks 133,770 153,795
Debtors 6 536,341 16,329
Cash at bank and in hand 286,885 388,049
956,996 558,173
CREDITORS
Amounts falling due within one year 7 499,078 398,582
NET CURRENT ASSETS 457,918 159,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

469,088

174,504

CREDITORS
Amounts falling due after more than one year 8 (185,737 ) (12,134 )

PROVISIONS FOR LIABILITIES 11 (2,792 ) (2,833 )
NET ASSETS 280,559 159,537

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 280,459 159,437
SHAREHOLDERS' FUNDS 280,559 159,537

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.

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 21 October 2024 and were signed on its behalf by:



R S Oakley - Director


G.W.Interiors (South Wales) Limited (Registered number: 04930591)

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

1. STATUTORY INFORMATION

G.W.Interiors (South Wales) 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.

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


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.

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.

Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contract costs

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

G.W.Interiors (South Wales) Limited (Registered number: 04930591)

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

2. ACCOUNTING POLICIES - continued

Goodwill
Goodwill, being the amount paid in connection with the acquisition of business, has been fully amortised in the year 31 March 2012.

Financial instruments
Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 80,000
AMORTISATION
At 1 April 2023
and 31 March 2024 80,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 28,507 25,357 38,095 670 92,629
DEPRECIATION
At 1 April 2023 28,270 25,032 24,220 194 77,716
Charge for year 59 81 3,469 134 3,743
At 31 March 2024 28,329 25,113 27,689 328 81,459
NET BOOK VALUE
At 31 March 2024 178 244 10,406 342 11,170
At 31 March 2023 237 325 13,875 476 14,913

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 29,444 16,329
Amounts owed by group undertakings 503,681 -
Other debtors 3,216 -
536,341 16,329

G.W.Interiors (South Wales) Limited (Registered number: 04930591)

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 (see note 9) 44,735 4,826
Payments on account 125,146 117,021
Trade creditors 103,045 142,478
Taxation and social security 81,808 84,766
Other creditors 144,344 49,491
499,078 398,582

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 185,737 12,134

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 44,735 4,826

Amounts falling due between one and two years:
Bank loans - 1-2 years 48,208 4,827

Amounts falling due between two and five years:
Bank loans - 2-5 years 137,529 7,307

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 230,472 -

The debt is secured against the property and undertaking of the company and contains a fixed charge and a floating charge.

11. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 2,792 2,833

Deferred
tax
£   
Balance at 1 April 2023 2,833
Credit to Income Statement during year (41 )
Balance at 31 March 2024 2,792

12. ULTIMATE CONTROLLING PARTY

The controlling party is GW Interiors (SW) Holdings Limited.