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REGISTERED NUMBER: 02073783 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

GOWER LIMITED

GOWER LIMITED (REGISTERED NUMBER: 02073783)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOWER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: S.M. Osborne
S. Hill





REGISTERED OFFICE: 19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW





REGISTERED NUMBER: 02073783 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

GOWER LIMITED (REGISTERED NUMBER: 02073783)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 81,544 95,939
Cash at bank 3 3
81,547 95,942
CREDITORS
Amounts falling due within one year 6 95,285 86,340
NET CURRENT (LIABILITIES)/ASSETS (13,738 ) 9,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

(13,738

)

9,602

CREDITORS
Amounts falling due after more than one year 7 13,333 27,333
NET LIABILITIES (27,071 ) (17,731 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (27,171 ) (17,831 )
SHAREHOLDERS' FUNDS (27,071 ) (17,731 )

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.

GOWER LIMITED (REGISTERED NUMBER: 02073783)

BALANCE SHEET - continued
30 JUNE 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 18 March 2025 and were signed on its behalf by:





S.M. Osborne - Director


GOWER LIMITED (REGISTERED NUMBER: 02073783)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Gower 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.

The directors have necessarily assessed various factors and risks affecting the company and its ability in difficult social and economic times to continue to trade as a going concern.

There is a deficit on the balance sheet as at 30 June 2024 of £21,698. However, the directors are hopeful that that can be made good during the current and forthcoming accounting periods.

On the basis of all of the foregoing, the financial statements for the year ended 30th June 2024 have been prepared using the going concern basis of accounting.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

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.
Office furniture & equipment - 25% on cost

GOWER LIMITED (REGISTERED NUMBER: 02073783)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The directors consider all financial instruments to be basic financial instruments in accordance with paragraph 11 of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.

Trade and other receivables and payables

Trade and other receivables and payables are measured at amortised cost which approximates to fair value given the short term nature of these assets and liabilities.

Trade receivables are valued at original invoice amount less an allowance for potentially un-collectable debts. Provision is made where this is objective evidence to suggest that the company will not be in a position to collect receivables as they fall due. Bad and Doubtful debts are written off in the profit and loss account on identification.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances held for the purposes of meeting short-term cash commitments.

Interest Bearing Borrowings

Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost using the effective interest rate method, less any impairment losses.

Taxation
Taxation for the year comprises current 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.

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 year was 2 (2023 - 2 ) .

GOWER LIMITED (REGISTERED NUMBER: 02073783)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Office
furniture
& equipment
£   
COST
At 1 July 2023
and 30 June 2024 30,964
DEPRECIATION
At 1 July 2023
and 30 June 2024 30,964
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 525 525
Directors' current accounts 58,430 67,134
Tax 22,196 27,669
VAT 393 -
Prepayments - 611
81,544 95,939

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 47,648 47,769
Other loan 14,000 16,000
Trade creditors 2,370 4,694
VAT - 204
Other creditors 2,097 2,193
Directors' current accounts 25,734 12,366
Accrued expenses 3,436 3,114
95,285 86,340

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loan 13,333 27,333

GOWER LIMITED (REGISTERED NUMBER: 02073783)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 47,648 47,769
Other loan 27,333 43,333
74,981 91,102

There exists a Debenture in favour of Barclays Bank Plc ("the Bank") on the Bank's standard form and dated 8th December 1997 in respect of all monies owing at present or in the future to the Bank.

Additionally, on 28th October 2002 ,two of the company's directors gave personal guarantees to the Bank up to an aggregate value of £60,000 in respect of monies owing or becoming due to the Bank.

All directors have given personal guarantees in respect of a loan advanced by the Lending Circle.

9. FINANCIAL COMMITMENTS

The company does not have a lease in respect of its offices but rather a short term rolling letting arrangement. A year's rental would be £1,200.