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REGISTERED NUMBER: 08253676 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Gwsim Limited

Gwsim Limited (Registered number: 08253676)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gwsim Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: MR F Pirinoli





REGISTERED OFFICE: Holden House, 57 Rathbone Place
London
W1T 1JU





REGISTERED NUMBER: 08253676 (England and Wales)






Gwsim Limited (Registered number: 08253676)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,043 24,679
Investments 5 - 124,916
15,043 149,595

CURRENT ASSETS
Debtors 6 904,538 512,018
Cash at bank 579,389 173,382
1,483,927 685,400
CREDITORS
Amounts falling due within one year 7 987,376 388,235
NET CURRENT ASSETS 496,551 297,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

511,594

446,760

CREDITORS
Amounts falling due after more than one
year

8

109,330

207,281
NET ASSETS 402,264 239,479

CAPITAL AND RESERVES
Called up share capital 751 751
Retained earnings 401,513 238,728
402,264 239,479

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

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

Gwsim Limited (Registered number: 08253676)

Balance Sheet - continued
31 December 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 director and authorised for issue on 19 December 2024 and were signed by:





MR F Pirinoli - Director


Gwsim Limited (Registered number: 08253676)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Gwsim 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.

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 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.

Equipment - 25% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

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.

Going concern
These accounts have been prepared on the going concern basis. The director is of the opinion that the shareholders of the company will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the forseable future, being for a period of at least twelve months from the date of approval of the financial statements.

Gwsim Limited (Registered number: 08253676)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 67,947
Additions 1,698
At 31 December 2023 69,645
DEPRECIATION
At 1 January 2023 43,268
Charge for year 11,334
At 31 December 2023 54,602
NET BOOK VALUE
At 31 December 2023 15,043
At 31 December 2022 24,679

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 473,913
Additions 514,959
At 31 December 2023 988,872
PROVISIONS
At 1 January 2023 348,997
Provision for year 639,875
At 31 December 2023 988,872
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 124,916

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 742,760 194,488
Other debtors 27,857 317,530
770,617 512,018

Gwsim Limited (Registered number: 08253676)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 133,921 -

Aggregate amounts 904,538 512,018

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 190,886 47,907
Taxation and social security 768 14,293
Other creditors 795,722 326,035
987,376 388,235

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 48,333 68,333
Other creditors 60,997 138,948
109,330 207,281

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 48,333 68,333