Registered number
10779806
GFWQ LIMITED
Filleted Accounts
31 May 2024
GFWQ LIMITED
Registered number: 10779806
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,176 2,607
Current assets
Debtors 4 (4,006) -
Cash at bank and in hand 1,657 817
(2,349) 817
Creditors: amounts falling due within one year 5 80,073 39,501
Net current assets 77,724 40,318
Net assets 82,900 42,925
Capital and reserves
Called up share capital 1 1
Profit and loss account 82,899 42,924
Shareholders' funds 82,900 42,925
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
George Wiechert
Director
Approved by the board on 26 February 2025
GFWQ LIMITED
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 25% WDV
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 6,071 - 6,071
Additions - 4,026 4,026
At 31 May 2024 6,071 4,026 10,097
Depreciation
At 1 June 2023 3,464 - 3,464
Charge for the year 652 805 1,457
At 31 May 2024 4,116 805 4,921
Net book value
At 31 May 2024 1,955 3,221 5,176
At 31 May 2023 2,607 - 2,607
4 Debtors 2024 2023
£ £
Trade debtors (4,006) -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 9,388 17,323
Other creditors (89,461) (56,824)
(80,073) (39,501)
6 Other information
GFWQ LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
1st Floor, Merritt House
Hill Avenue
Amersham
Buckinghamshire
HP6 5BQ
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