GWM Energy Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14440329

GWM Energy Limited

Filleted Unaudited Financial Statements

31 October 2024

GWM Energy Limited

Financial Statements

Year ended 31 October 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

GWM Energy Limited

Statement of Financial Position

31 October 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		1,945	2,212

Current assets

Debtors	6	8,734	10,402
Cash at bank and in hand		303	1,360
		-------	--------
		9,037	11,762

Creditors: amounts falling due within one year	7	144,119		114,688
		---------		---------
Net current liabilities			135,082	102,926
			---------	---------
Total assets less current liabilities			( 133,137)	( 100,714)
			---------	---------
Net liabilities			( 133,137)	( 100,714)
			---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 133,237)	( 100,814)
	---------	---------
Shareholders deficit	( 133,137)	( 100,714)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

GWM Energy Limited

Statement of Financial Position (continued)

31 October 2024

These financial statements were approved by the board of directors and authorised for issue on 31 October 2025 , and are signed on behalf of the board by:

Mr G W Mansfield
Director

Company registration number: 14440329

GWM Energy Limited

Notes to the Financial Statements

Year ended 31 October 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 109, Joseph Wilson Estate, Millstrood Road, Whitstable, England, CT5 3PS, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared under the going concern basis as the director and a company under common control have confirmed that they will continue to support the company for the next 12 months.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recording at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 November 2023	2,949
Additions	538
	-------
At 31 October 2024	3,487
	-------
Depreciation
At 1 November 2023	737
Charge for the year	805
	-------
At 31 October 2024	1,542
	-------
Carrying amount
At 31 October 2024	1,945
	-------
At 31 October 2023	2,212
	-------

6. Debtors

	2024	2023
	£	£
Trade debtors	6,609	3,531
Other debtors	2,125	6,871
	-------	--------
	8,734	10,402
	-------	--------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,974	3,078
Social security and other taxes	–	24,886
Other creditors	142,145	86,724
	---------	---------
	144,119	114,688
	---------	---------

8. Related party transactions

At the balance sheet date, a director was owed £72,709 (2023: £54,540) by the company. At the balance sheet date £40,792 (2023: 23,148) was owed to a company under common control.