Registered number
12712317
GWS Projects Limited
Filleted Accounts
30 June 2024
GWS Projects Limited
Registered number: 12712317
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,389 17,928
Current assets
Stocks 380,000 -
Debtors 4 1,053,238 466,281
Cash at bank and in hand 563,494 120,000
1,996,732 586,281
Creditors: amounts falling due within one year 5 (915,518) (305,934)
Net current assets 1,081,214 280,347
Total assets less current liabilities 1,097,603 298,275
Provisions for liabilities (4,098) (3,406)
Net assets 1,093,505 294,869
Capital and reserves
Profit and loss account 1,093,505 294,869
Shareholders' funds 1,093,505 294,869
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.
P Given
Director
Approved by the board on 10 March 2025
GWS Projects Limited
Notes to the Accounts
for the year ended 30 June 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:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 16,455 9,800 26,255
Additions 3,925 - 3,925
At 30 June 2024 20,380 9,800 30,180
Depreciation
At 1 July 2023 5,877 2,450 8,327
Charge for the year 3,626 1,838 5,464
At 30 June 2024 9,503 4,288 13,791
Net book value
At 30 June 2024 10,877 5,512 16,389
At 30 June 2023 10,578 7,350 17,928
4 Debtors 2024 2023
£ £
Trade debtors 1,053,238 466,281
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 22,033 53,430
Taxation and social security costs 896,369 202,029
Other creditors (2,884) 50,475
915,518 305,934
6 Other information
GWS Projects Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 Poplars Court
Lenton Lane
Nottingham
NG7 2RR
GWS Projects Limited 12712317 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts April 2024 P Given No description of principal activity 12712317 2022-07-01 2023-06-30 12712317 core:WithinOneYear 2023-06-30 12712317 core:RetainedEarningsAccumulatedLosses 2023-06-30 12712317 2023-07-01 2024-06-30 12712317 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12712317 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12712317 bus:Director40 2023-07-01 2024-06-30 12712317 1 2023-07-01 2024-06-30 12712317 2 2023-07-01 2024-06-30 12712317 core:PlantMachinery 2023-07-01 2024-06-30 12712317 core:Vehicles 2023-07-01 2024-06-30 12712317 countries:England 2023-07-01 2024-06-30 12712317 bus:FRS102 2023-07-01 2024-06-30 12712317 bus:FilletedAccounts 2023-07-01 2024-06-30 12712317 2024-06-30 12712317 core:WithinOneYear 2024-06-30 12712317 core:RetainedEarningsAccumulatedLosses 2024-06-30 12712317 core:PlantMachinery 2024-06-30 12712317 core:Vehicles 2024-06-30 12712317 2023-06-30 12712317 core:PlantMachinery 2023-06-30 12712317 core:Vehicles 2023-06-30 iso4217:GBP xbrli:pure