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REGISTERED NUMBER: SC295170 (Scotland)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Gowin Services Limited

Gowin Services Limited (Registered number: SC295170)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gowin Services Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: P A Ford





SECRETARY: P A Ford





REGISTERED OFFICE: Unit 6 Mid Road Ind Estate
Prestonpans
East Lothian
EH32 9ER





REGISTERED NUMBER: SC295170 (Scotland)





ACCOUNTANTS: Crichton Mackie Accounting Services Ltd
66 Barntongate Drive
Edinburgh
EH4 8BY

Gowin Services Limited (Registered number: SC295170)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 354,806 292,099
354,806 292,099

CURRENT ASSETS
Stocks 37,596 35,490
Debtors 6 180,888 212,198
Cash at bank 184,910 108,564
403,394 356,252
CREDITORS
Amounts falling due within one year 7 389,271 315,445
NET CURRENT ASSETS 14,123 40,807
TOTAL ASSETS LESS CURRENT
LIABILITIES

368,929

332,906

CREDITORS
Amounts falling due after more than
one year

8

(179,710

)

(177,790

)

PROVISIONS FOR LIABILITIES (88,701 ) (55,499 )
NET ASSETS 100,518 99,617

Gowin Services Limited (Registered number: SC295170)

Balance Sheet - continued
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 47 47
Capital redemption reserve 3 3
Retained earnings 100,468 99,567
SHAREHOLDERS' FUNDS 100,518 99,617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 4 November 2024 and were signed by:





P A Ford - Director


Gowin Services Limited (Registered number: SC295170)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Gowin Services Limited 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.

Preparation of consolidated financial statements
The financial statements contain information about Gowin Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.
Land and buildings - 25% on cost
Plant and machinery etc - 25% on cost, 20% on reducing balance and 15% 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 balance sheet date.

Gowin Services Limited (Registered number: SC295170)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

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.

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.

Going concern
The company made a profit in the year but at the year end had net current liabilities. Based on cashflow projections, the company should meet it's liabilities as they fall due and therefore the accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 188,500
AMORTISATION
At 1 March 2023
and 29 February 2024 188,500
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

Gowin Services Limited (Registered number: SC295170)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 9,396 735,675 745,071
Additions - 163,247 163,247
Disposals - (42,463 ) (42,463 )
At 29 February 2024 9,396 856,459 865,855
DEPRECIATION
At 1 March 2023 9,396 443,576 452,972
Charge for year - 88,628 88,628
Eliminated on disposal - (30,551 ) (30,551 )
At 29 February 2024 9,396 501,653 511,049
NET BOOK VALUE
At 29 February 2024 - 354,806 354,806
At 28 February 2023 - 292,099 292,099

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 68,234 79,363
Amounts owed by group undertakings 87,897 86,888
Other debtors 24,757 45,947
180,888 212,198

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts (see note 9)
73,903

75,785
Trade creditors 136,984 123,415
Taxation and social security 94,194 42,716
Other creditors 84,190 73,529
389,271 315,445

Gowin Services Limited (Registered number: SC295170)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts (see note 9)
136,874

67,121
Other creditors 42,836 110,669
179,710 177,790

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
29.2.24 28.2.23
£    £   
Net obligations repayable:
Within one year 73,903 75,785
Between one and five years 136,874 67,121
210,777 142,906

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £46,727 (2023 - £15,444)

10. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 210,777 142,906

Hire purchase liabilities are secured over the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
47 Ordinary 1 47 47