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REGISTERED NUMBER: 01530343 (England and Wales)













STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

GORDON WILSON (PROCESS SYSTEMS) LTD

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


GORDON WILSON (PROCESS SYSTEMS) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: T J Wilson
N E F Wilson
S Russell





SECRETARY: T J Wilson





REGISTERED OFFICE: 9 Waterworks Road
Hastings
East Sussex
TN34 1RT





REGISTERED NUMBER: 01530343 (England and Wales)





AUDITORS: Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their strategic report for the year ended 30 September 2024.

REVIEW OF BUSINESS
The company has continued its bounce back after a difficult financial year in 2021 brought on by the tough trading environment. The company has worked hard to ensure it remains competitive to maintain their market share. During the recovering environment the company has seen an increase in gross profitability in percentage terms from 16.48% in 2023 to 17.95% in 2024. Turnover has increased by 0.88% (2023: 8.09%).

The directors are confident for the future and feel that the company can build further on its strong financial base and reputation. The company has invested significantly in its fixed assets in previous years and the directors believe that this will ensure the company remains competitive and adaptable in the future.

PRINCIPAL RISKS AND UNCERTAINTIES
The company's major customers are large, multinational companies trading on a global basis and as a result the company is indirectly exposed to fluctuations in the global economy. Despite the current recovery in world activity, further fluctuations in the world economy remain the principal risk and uncertainty that the company faces in future.

DEVELOPMENT AND PERFORMANCE
The company has continued trading well after the year end with turnover and net profit margin staying relatively consistent. The company continues to have a strong balance sheet and low gearing enabling the entity to continue operating throughout the current global strains.

ON BEHALF OF THE BOARD:





T J Wilson - Director


11 June 2025

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

DIVIDENDS
No dividends will be distributed for the year ended 30 September 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

T J Wilson
N E F Wilson
S Russell

Other changes in directors holding office are as follows:

C J Mundy ceased to be a director after 30 September 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


AUDITORS
The auditors, Watson Associates (Audit Services) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





T J Wilson - Director


11 June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GORDON WILSON (PROCESS SYSTEMS) LTD

Opinion
We have audited the financial statements of Gordon Wilson (Process Systems) Ltd (the 'company') for the year ended 30 September 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GORDON WILSON (PROCESS SYSTEMS) LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Group and industry, we identified that the principal risks of non-compliance with laws and regulations related to employment laws and we considered the extent to which non-compliance might have a material effect on the financial statements.

We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determine that the principal risks were related to posting inappropriate journal entries to achieve desired financial results and the
manipulation of exceptional items and management bias in accounting estimates.

Audit procedures performed by the engagement team included:
- enquiries with management, including consideration of known or suspected instances of fraud and
non-compliance with laws and regulations and examining supporting calculations where a provision has been made in respect of these;
- reading key correspondence with regulatory authorities in relation to compliance with certain employment laws;
- understanding and evaluating the design and implementation of management’s controls designed to prevent and detect irregularities;
- challenging assumptions and judgements made by management in their significant accounting estimates;
- identifying and testing journal entries, in particular any journal entries posted with unusual account
combinations and postings by unusual users.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GORDON WILSON (PROCESS SYSTEMS) LTD


There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Geoffrey David Slater (Senior Statutory Auditor)
for and on behalf of Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

11 June 2025

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   

TURNOVER 11,852,334 11,749,055

Cost of sales (9,724,850 ) (9,812,529 )
GROSS PROFIT 2,127,484 1,936,526

Administrative expenses (1,721,046 ) (1,687,164 )
406,438 249,362

Interest receivable and similar income 315 -
PROFIT BEFORE TAXATION 4 406,753 249,362

Tax on profit 5 (102,157 ) (54,041 )
PROFIT FOR THE FINANCIAL YEAR 304,596 195,321

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

304,596

195,321

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 6 - -
Tangible assets 7 329,954 249,035
329,954 249,035

CURRENT ASSETS
Stocks 8 2,219,539 3,847,322
Debtors 9 1,916,110 2,187,758
Cash at bank and in hand 812,716 97,808
4,948,365 6,132,888
CREDITORS
Amounts falling due within one year 10 (1,256,268 ) (2,688,535 )
NET CURRENT ASSETS 3,692,097 3,444,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,022,051

3,693,388

PROVISIONS FOR LIABILITIES 12 (62,395 ) (38,328 )
NET ASSETS 3,959,656 3,655,060

CAPITAL AND RESERVES
Called up share capital 13 21,000 21,000
Retained earnings 14 3,938,656 3,634,060
SHAREHOLDERS' FUNDS 3,959,656 3,655,060

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by:




N E F Wilson - Director



T J Wilson - Director


GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2022 21,000 3,438,739 3,459,739

Changes in equity
Total comprehensive income - 195,321 195,321
Balance at 30 September 2023 21,000 3,634,060 3,655,060

Changes in equity
Total comprehensive income - 304,596 304,596
Balance at 30 September 2024 21,000 3,938,656 3,959,656

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,603,904 (137,408 )
Tax paid (61,056 ) (20,637 )
Net cash from operating activities 1,542,848 (158,045 )

Cash flows from investing activities
Purchase of tangible fixed assets (160,787 ) (10,226 )
Sale of tangible fixed assets 273 -
Interest received 315 -
Net cash from investing activities (160,199 ) (10,226 )

Cash flows from financing activities
Amount withdrawn by group companies (616,132 ) (71,337 )
Net cash from financing activities (616,132 ) (71,337 )

Increase/(decrease) in cash and cash equivalents 766,517 (239,608 )
Cash and cash equivalents at
beginning of year

2

46,199

285,807

Cash and cash equivalents at end of
year

2

812,716

46,199

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 406,753 249,362
Depreciation charges 77,772 54,446
Loss on disposal of fixed assets 1,825 -
Finance income (315 ) -
486,035 303,808
Decrease in stocks 1,627,784 570,739
Decrease/(increase) in trade and other debtors 271,648 (74,334 )
Decrease in trade and other creditors (781,563 ) (937,621 )
Cash generated from operations 1,603,904 (137,408 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 812,716 97,808
Bank overdrafts - (51,609 )
812,716 46,199
Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 97,808 285,807
Bank overdrafts (51,609 ) -
46,199 285,807


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank and in hand 97,808 714,908 812,716
Bank overdrafts (51,609 ) 51,609 -
46,199 766,517 812,716
Total 46,199 766,517 812,716

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

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

1. STATUTORY INFORMATION

Gordon Wilson (Process Systems) Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the recognition of certain assets and liabilities measured at fair value.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Work in progress
The entity exercises judgement to determine the value of work in progress at the year-end. Work in progress comprises unbilled amounts for customer work, measured at fair value less provisions for foreseeable losses.

Stock provision
The company exercises judgement to determine the value of stock that is impaired at the year-end. The impairment consists of goods not sold for a defined length of time.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably; and when it is probable that future economic benefits will flow to the entity.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Intangible assets are stated at cost less accumulated depreciation and any accumulated impairment losses. They are amortised over there estimated life of 3 years using the straight-line method.

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

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

2. ACCOUNTING POLICIES - continued

Computer software
Computer software is amortised over 3 years on a straight line basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 33% on cost and 20% on reducing balance
Motor vehicles - 25% on reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

Net realisable value is based on estimated selling price less costs to complete and sell.

At the end of each reporting period stocks and work in progress are assessed for impairment. If any stock or work in progress is impaired, it is reduced to its net realisable value and an impairment charge is recognised in the income statement. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the income statement.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,307,407 2,057,323
Social security costs 136,948 113,419
Other pension costs 62,597 58,511
2,506,952 2,229,253

The average number of employees during the year was as follows:
2024 2023

Direct production 42 42
Indirect production 9 9
Administration 2 2
53 53

2024 2023
£    £   
Directors' remuneration 138,278 73,120
Directors' pension contributions to money purchase schemes 1,931 1,960

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

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

4. PROFIT BEFORE TAXATION

The profit is stated after charging:

2024 2023
£    £   
Other operating leases 100,140 100,140
Depreciation - owned assets 77,771 54,446
Loss on disposal of fixed assets 1,825 -
Auditors' remuneration 26,920 12,960

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 78,090 61,056

Deferred tax 24,067 (7,015 )
Tax on profit 102,157 54,041

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 406,753 249,362
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 22.008%)

101,688

54,880

Effects of:
Depreciation add back 19,444 11,983

Capital allowances (43,498 ) (5,807 )
Deferred Tax 24,067 (7,015 )
Profit and Loss on disposal of fixed assets 456 -

Total tax charge 102,157 54,041

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

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

6. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 October 2023
and 30 September 2024 85,435
AMORTISATION
At 1 October 2023
and 30 September 2024 85,435
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

7. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 October 2023 22,108 39,765 2,465,600
Additions - - 160,788
Disposals - - (93,164 )
At 30 September 2024 22,108 39,765 2,533,224
DEPRECIATION
At 1 October 2023 - 39,765 2,247,447
Charge for year - - 75,780
Eliminated on disposal - - (91,066 )
At 30 September 2024 - 39,765 2,232,161
NET BOOK VALUE
At 30 September 2024 22,108 - 301,063
At 30 September 2023 22,108 - 218,153

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

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

7. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 October 2023 595,798 39,830 3,163,101
Additions - - 160,788
Disposals - - (93,164 )
At 30 September 2024 595,798 39,830 3,230,725
DEPRECIATION
At 1 October 2023 591,735 35,119 2,914,066
Charge for year 784 1,207 77,771
Eliminated on disposal - - (91,066 )
At 30 September 2024 592,519 36,326 2,900,771
NET BOOK VALUE
At 30 September 2024 3,279 3,504 329,954
At 30 September 2023 4,063 4,711 249,035

Included in cost of land and buildings is freehold land of £ 22,108 (2023 - £ 22,108 ) which is not depreciated.

8. STOCKS
2024 2023
£    £   
Stocks 1,933,331 3,392,394
Work-in-progress 286,208 454,928
2,219,539 3,847,322

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,851,776 2,119,347
Other debtors 2,389 2,156
Prepayments 61,945 66,255
1,916,110 2,187,758

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

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

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 11) - 51,609
Trade creditors 717,976 1,319,292
Amounts owed to group undertakings 161,935 778,067
Tax 78,090 61,056
Social security and other taxes 45,789 47,815
VAT 149,057 167,449
Other creditors - 200,000
Accrued expenses 103,421 63,247
1,256,268 2,688,535

11. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 51,609

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 62,395 38,328

Deferred
tax
£   
Balance at 1 October 2023 38,328
Charge to Statement of Comprehensive Income during year 24,067
Balance at 30 September 2024 62,395

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20,000 Ordinary 'A' £1 20,000 20,000
500 Ordinary 'B' £1 500 500
500 Ordinary 'C' £1 500 500
21,000 21,000

GORDON WILSON (PROCESS SYSTEMS) LTD (REGISTERED NUMBER: 01530343)

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

14. RESERVES
Retained
earnings
£   

At 1 October 2023 3,634,060
Profit for the year 304,596
At 30 September 2024 3,938,656

15. ULTIMATE PARENT COMPANY

The ultimate parent company is NT Holdings Limited, a company registered in England and Wales.

The company considers the ultimate controlling parties to be N Wilson and T Wilson, joint directors and shareholders of NT Holdings limited.

16. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 161,975

17. RELATED PARTY DISCLOSURES

During the year the company was charged management fees of £360,000 (2023: £360,000) by it's parent company, NT Holdings Limited. During the year the company declared dividends of £nil (2023: £nil) to its Parent Company. At the year end there was an outstanding inter-company balance of £161,935 (2023: £778,067) owed by the company to NT Holdings Limited.

During the year the company made purchases of £942,587 (2023: £863,249) from Wilson Special Products Limited, a company registered in England & Wales. These purchases were made at arm's length. NEF Wilson is a director of Wilson Special Products Limited. At the year end there was an outstanding balance of £55,558 (2023: £422,613) owed by the company to Wilson Special Products Limited, which is held in trade creditors.

During the year the company made purchases of £30,304 (2023: £63,574) from Goldvelvet Import/Export Limited, a company registered in England & Wales. These purchases were made at arm's length. NEF Wilson is a director of Goldvelvet Import/Export Limited. At the year end there was an outstanding balance of £nil (2023: £7,044) owed by the company to Goldvelvet Import/Export Limited, which is held in trade creditors. At the year end there was an outstanding balance of £nil (2023: £200,000) owed by the company to Goldvelvet Import/Export Limited, which is held in other creditors.

During the year the company paid rent of £80,000 (2023: £80,000) to the directors for use of the property at Waterworks Road. There were no amounts outstanding at the year end.

During the year the company paid rent of £17,500 (2023: £17,500) to the company's pension scheme for use of the property at Fir Tree Road. There were no amounts outstanding at the year end.