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REGISTERED NUMBER: 04392114 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

G.W.K. ENGINEERING LIMITED

G.W.K. ENGINEERING LIMITED (REGISTERED NUMBER: 04392114)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


G.W.K. ENGINEERING LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: Mr T J Whittle





REGISTERED OFFICE: Unit 8 Ham Bridge Trading Estate
Willowbrook Road,
Worthing
West Sussex
BN14 8NA





REGISTERED NUMBER: 04392114 (England and Wales)





ACCOUNTANTS: MMP Accounting Solutions Ltd
Suite A, Kings House
68 Victoria Road
Burgess Hill
West Sussex
RH15 9LH

G.W.K. ENGINEERING LIMITED (REGISTERED NUMBER: 04392114)

STATEMENT OF FINANCIAL POSITION
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 191,124 134,694

CURRENT ASSETS
Stocks 24,000 24,000
Debtors 6 172,877 136,950
Cash at bank 185,084 153,003
381,961 313,953
CREDITORS
Amounts falling due within one year 7 244,658 243,263
NET CURRENT ASSETS 137,303 70,690
TOTAL ASSETS LESS CURRENT
LIABILITIES

328,427

205,384

CREDITORS
Amounts falling due after more than
one year

8

(56,494

)

(28,932

)

PROVISIONS FOR LIABILITIES (46,691 ) (25,592 )
NET ASSETS 225,242 150,860

CAPITAL AND RESERVES
Called up share capital 9 2 1
Retained earnings 10 225,240 150,859
SHAREHOLDERS' FUNDS 225,242 150,860

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 director acknowledges his 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.

G.W.K. ENGINEERING LIMITED (REGISTERED NUMBER: 04392114)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2024


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 director and authorised for issue on 31 October 2024 and were signed by:





Mr T J Whittle - Director


G.W.K. ENGINEERING LIMITED (REGISTERED NUMBER: 04392114)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

G.W.K. Engineering 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

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 - 20% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

G.W.K. ENGINEERING LIMITED (REGISTERED NUMBER: 04392114)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

3. 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 372,439 5,551 - 377,990
Additions 18,860 708 85,237 104,805
At 31 March 2024 391,299 6,259 85,237 482,795
DEPRECIATION
At 1 April 2023 238,975 4,321 - 243,296
Charge for year 30,465 863 17,047 48,375
At 31 March 2024 269,440 5,184 17,047 291,671
NET BOOK VALUE
At 31 March 2024 121,859 1,075 68,190 191,124
At 31 March 2023 133,464 1,230 - 134,694

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 150,626 124,241
Prepayments and accrued income 22,251 12,709
172,877 136,950

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 10,000
Hire purchase contracts 13,796 14,580
Trade creditors 29,340 36,585
Tax 44,284 36,352
Social security and other taxes 5,304 3,263
Pension Control 1,374 1,230
VAT 33,756 24,798
Other creditors 115,197 115,210
Directors' current accounts 1,607 1,245
244,658 243,263

G.W.K. ENGINEERING LIMITED (REGISTERED NUMBER: 04392114)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years - 10,000
Bank loans - 2-5 years - 11,667
Hire purchase contracts 56,494 7,265
56,494 28,932

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Ordinary £1 1 1
1 Ordinary B £1 1 -
2 1

The following shares were issued during the year for cash at par :

1 Ordinary B share of £1

10. RESERVES
Retained
earnings
£   

At 1 April 2023 150,859
Profit for the year 172,381
Dividends (98,000 )
At 31 March 2024 225,240