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REGISTERED NUMBER: SC384158 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

GO-WRIGHT LTD

GO-WRIGHT LTD (REGISTERED NUMBER: SC384158)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GO-WRIGHT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: G M Cartwright
D R Pilkington
Mrs C A Cartwright





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC384158 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

GO-WRIGHT LTD (REGISTERED NUMBER: SC384158)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 261,874 221,306

CURRENT ASSETS
Stocks 354,050 157,686
Debtors 5 762,936 381,495
Cash at bank and in hand 13,411 50,691
1,130,397 589,872
CREDITORS
Amounts falling due within one year 6 1,175,676 613,200
NET CURRENT LIABILITIES (45,279 ) (23,328 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

216,595

197,978

CREDITORS
Amounts falling due after more than one
year

7

(175,499

)

(120,268

)

PROVISIONS FOR LIABILITIES (23,180 ) (17,777 )
NET ASSETS 17,916 59,933

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 17,816 59,833
SHAREHOLDERS' FUNDS 17,916 59,933

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

GO-WRIGHT LTD (REGISTERED NUMBER: SC384158)

BALANCE SHEET - continued
31 OCTOBER 2023


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 31 October 2024 and were signed on its behalf by:





G M Cartwright - Director


GO-WRIGHT LTD (REGISTERED NUMBER: SC384158)

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

1. STATUTORY INFORMATION

Go-Wright Ltd is a private company, limited by shares , registered in Scotland. 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 represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on the despatch of goods.

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 - 2% on a straight line basis
Plant and machinery etc - 33% on a straight line basis, 25% on a reducing balance basis and 2% on a straight line basis

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.

GO-WRIGHT LTD (REGISTERED NUMBER: SC384158)

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

2. ACCOUNTING POLICIES - continued

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 27 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 76,006 486,479 562,485
Additions - 108,687 108,687
Disposals - (71,144 ) (71,144 )
At 31 October 2023 76,006 524,022 600,028
DEPRECIATION
At 1 November 2022 4,560 336,619 341,179
Charge for year 1,520 48,061 49,581
Eliminated on disposal - (52,606 ) (52,606 )
At 31 October 2023 6,080 332,074 338,154
NET BOOK VALUE
At 31 October 2023 69,926 191,948 261,874
At 31 October 2022 71,446 149,860 221,306

The net book value of the company's fixed assets includes £76,433 (2021: £66,023) in respect of assets held under finance leases or hire purchase contracts. Depreciation charged on these assets in the year amounted to £25,478 (2020: £28,174).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 622,571 240,327
Amounts owed by associates 26,481 27,358
Other debtors 113,884 113,810
762,936 381,495

GO-WRIGHT LTD (REGISTERED NUMBER: SC384158)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 102,694 31,772
Hire purchase contracts 32,743 49,373
Trade creditors 220,419 141,655
Taxation and social security 576,487 258,120
Other creditors 243,333 132,280
1,175,676 613,200

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 49,783 64,220
Hire purchase contracts 125,716 56,048
175,499 120,268

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 38,021 42,681