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REGISTERED NUMBER: 14985933 (England and Wales)












NWIT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 6 JULY 2023 TO 31 JULY 2024






NWIT LTD (REGISTERED NUMBER: 14985933)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 6 JULY 2023 TO 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NWIT LTD

COMPANY INFORMATION
FOR THE PERIOD 6 JULY 2023 TO 31 JULY 2024







DIRECTORS: Mr M Bettinson
Mr C D Eades
Mr S B Dorney





REGISTERED OFFICE: Unit 3 Manor Farm
New Road
Wolverhampton
United Kingdom
WV10 7NZ





REGISTERED NUMBER: 14985933 (England and Wales)





ACCOUNTANTS: Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT

NWIT LTD (REGISTERED NUMBER: 14985933)

BALANCE SHEET
31 JULY 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 26,134

CURRENT ASSETS
Stocks 61,694
Debtors 5 242,959
Cash at bank and in hand 63,135
367,788
CREDITORS
Amounts falling due within one year 6 275,292
NET CURRENT ASSETS 92,496
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,630

CREDITORS
Amounts falling due after more than one
year

7

18,009
NET ASSETS 100,621

CAPITAL AND RESERVES
Called up share capital 10 102
Retained earnings 100,519
SHAREHOLDERS' FUNDS 100,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 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.

NWIT LTD (REGISTERED NUMBER: 14985933)

BALANCE SHEET - continued
31 JULY 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 Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by:





Mr S B Dorney - Director


NWIT LTD (REGISTERED NUMBER: 14985933)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 6 JULY 2023 TO 31 JULY 2024

1. STATUTORY INFORMATION

NWIT Ltd 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.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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.

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 period 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.

NWIT LTD (REGISTERED NUMBER: 14985933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 6 JULY 2023 TO 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 period was 5 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 34,845
At 31 July 2024 34,845
DEPRECIATION
Charge for period 8,711
At 31 July 2024 8,711
NET BOOK VALUE
At 31 July 2024 26,134

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 34,845
At 31 July 2024 34,845
DEPRECIATION
Charge for period 8,711
At 31 July 2024 8,711
NET BOOK VALUE
At 31 July 2024 26,134

NWIT LTD (REGISTERED NUMBER: 14985933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 6 JULY 2023 TO 31 JULY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 220,941
Other debtors 22,018
242,959

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts (see note 8) 9,396
Trade creditors 218,840
Taxation and social security 33,986
Other creditors 13,070
275,292

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Hire purchase contracts (see note 8) 18,009

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire
purchase
contracts
£   
Net obligations repayable:
Within one year 9,396
Between one and five years 18,009
27,405

Non-cancellable operating leases
£   
Within one year 24,216
Between one and five years 74,666
98,882

9. SECURED DEBTS

The following secured debts are included within creditors:

£   
Hire purchase contracts 27,405

Hire purchase contracts are secured upon the assets to which they relate.

NWIT LTD (REGISTERED NUMBER: 14985933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 6 JULY 2023 TO 31 JULY 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
102 Ordinary £1 102

102 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.