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REGISTERED NUMBER: 03844565 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2024

for

G W Time Limited

G W Time Limited (Registered number: 03844565)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G W Time Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: R L Worrell
D Gardner





SECRETARY: K Tuplin





REGISTERED OFFICE: 46 Oswald Road
Scunthorpe
DN15 7PQ





REGISTERED NUMBER: 03844565 (England and Wales)





ACCOUNTANTS: Try Lunn & Co
Chartered Accountants
Roland House
Princes Dock Street
HULL HU1 2LD

G W Time Limited (Registered number: 03844565)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 100,404 105,633
100,404 105,633

CURRENT ASSETS
Debtors 6 158,940 148,983
Cash at bank and in hand 162,235 205,346
321,175 354,329
CREDITORS
Amounts falling due within one year 7 96,234 104,932
NET CURRENT ASSETS 224,941 249,397
TOTAL ASSETS LESS CURRENT
LIABILITIES

325,345

355,030

CAPITAL AND RESERVES
Called up share capital 9 2,356 2,356
Capital redemption reserve 10 19,644 19,644
Retained earnings 10 303,345 333,030
SHAREHOLDERS' FUNDS 325,345 355,030

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:



R L Worrell - Director


G W Time Limited (Registered number: 03844565)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

G W Time 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.

Goodwill
Goodwill, being the amount paid in connection with the aquisition of a business in 2000, was amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

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.

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.

Operating leases
Lease payments are recognised as an expenses over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term. on a straight line basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 32 ) .

G W Time Limited (Registered number: 03844565)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 91,000
AMORTISATION
At 1 July 2023
and 30 June 2024 91,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 182,019 141,477 323,496
Additions - 32,538 32,538
Disposals - (60,195 ) (60,195 )
At 30 June 2024 182,019 113,820 295,839
DEPRECIATION
At 1 July 2023 119,154 98,709 217,863
Charge for year 6,288 11,175 17,463
Eliminated on disposal - (39,891 ) (39,891 )
At 30 June 2024 125,442 69,993 195,435
NET BOOK VALUE
At 30 June 2024 56,577 43,827 100,404
At 30 June 2023 62,865 42,768 105,633

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 140,209 129,450
Other debtors 18,731 19,533
158,940 148,983

G W Time Limited (Registered number: 03844565)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,558 8,107
Taxation and social security 64,273 65,530
Other creditors 23,403 31,295
96,234 104,932

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 67,000 67,000
Between one and five years 100,500 167,500
167,500 234,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,356 Ordinary Share Capital £1 2,356 2,356

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 July 2023 333,030 19,644 352,674
Profit for the year 330 330
Dividends (30,015 ) (30,015 )
At 30 June 2024 303,345 19,644 322,989

11. ULTIMATE CONTROLLING PARTY

The company is controlled by Outwood Investments Limited.