REGISTERED NUMBER: 05613417 (England and Wales)

Financial Statements for the Year Ended 30 September 2024

for

GLOSTER S-WORX LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Gray

J Regan

D Mullens

G Thomas

M Aldridge

SECRETARIES:

J Regan

B Murphy

REGISTERED OFFICE:

29 Great Guildford Street,

London

SE1 0ES

REGISTERED NUMBER:

05613417 (England and Wales)

AUDITORS:

Inspire Compliance Limited

Chartered Accountants

Registered Auditors

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

FIXED ASSETS

Tangible assets

4

1,298

3,537

CURRENT ASSETS

Debtors

5

2,501,008

2,730,284

Cash at bank

1,225,946

592,304

3,726,954

3,322,588

CREDITORS

Amounts falling due within one year

6

2,843,454

1,899,447

NET CURRENT ASSETS

883,500

1,423,141

TOTAL ASSETS LESS CURRENT LIABILITIES

884,798

1,426,678

CAPITAL AND RESERVES

Called up share capital

891

1,000

Capital redemption reserve

109

-

Retained earnings

883,798

1,425,678

884,798

1,426,678

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 16 June 2025 and were signed on its behalf by:

J Gray - Director

1.	STATUTORY INFORMATION

GLOSTER S-WORX 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.

Turnover from a contract is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are met:

1) The amount of revenue can be measured reliably;

2) It is probably that the Company will receive the consideration due under the contract;

3) The stage of completion of the contract at the end of the reported period can be measured reliably;

4) The costs incurred and the costs to complete the contract can be measured reliably.

Profit on long term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out at the year-end by recording turnover and related costs as contract activity advances. Provisions are made to ensure the level of profit recognised is in line with the final expectations of that contract. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to the total expected costs of that contract. Revenue derived from variations on contracts is recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

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

-

33% on cost

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.

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 year 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Long term contracts

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed

with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion

of the work carried out at the year end, by recording turnover and related costs as contract activity

progresses. Turnover is calculated as that proportion of total contract value which costs incurred to

date bear to total expected costs for that contract. Revenues derived from variations on contracts are

recognised only when they have been instructed by the customer. Full provision is made for losses

on all contracts in the year in which they are first forseen.

The balance due is shown as "Amounts recoverable on contracts", and included in debtors due within

less than one year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 October 2023

and 30 September 2024

6,784

DEPRECIATION

At 1 October 2023

3,247

Charge for year

2,239

At 30 September 2024

5,486

NET BOOK VALUE

At 30 September 2024

1,298

At 30 September 2023

3,537

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Trade debtors

1,031,895

964,452

Amounts owed by participating interests

-

301,540

Amounts recoverable on contract

1,389,970

852,667

Other debtors

19,973

556,840

Prepayments and accrued income

59,170

54,785

2,501,008

2,730,284

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Payments on account

792,604

-

Trade creditors

1,452,522

1,439,433

Tax

409,685

331,072

Social security and other taxes

23,729

71,457

Other creditors

93,422

43,835

Accruals and deferred income

71,492

13,650

2,843,454

1,899,447

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Tait (Senior Statutory Auditor)

for and on behalf of Inspire Compliance Limited

8.	RELATED PARTY DISCLOSURES

At the end of the last financial year the directors owed the company £265,223, during this financial year all loans have been repaid to the company.