Gwynne TV & Electrical Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05219796 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Gwynne TV & Electrical Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R G May

REGISTERED OFFICE:

16-20 Benfield Way

Braintree

Essex

CM7 3YS

REGISTERED NUMBER:

05219796 (England and Wales)

ACCOUNTANTS:

Baverstocks Group Limited

140 Rayne Road

Braintree

Essex

CM7 2QR

FIXED ASSETS

Tangible assets

4

65,660

83,909

CURRENT ASSETS

Stocks

19,200

17,200

Debtors

5

118,448

116,479

Cash at bank and in hand

86,092

106,159

223,740

239,838

CREDITORS

Amounts falling due within one year

6

212,187

219,238

NET CURRENT ASSETS

11,553

20,600

TOTAL ASSETS LESS CURRENT
LIABILITIES

77,213

104,509

CREDITORS

Amounts falling due after more than one
year

7

(1,667

)

(11,667

)

PROVISIONS FOR LIABILITIES

(16,415

)

(20,977

)

NET ASSETS

59,131

71,865

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

59,031

71,765

SHAREHOLDERS' FUNDS

59,131

71,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 3 December 2025 and were signed by:

R G May - Director

1.	STATUTORY INFORMATION

Gwynne TV & Electrical Services 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 represents the value of net invoiced sales of goods and work done excluding value added tax as appropriate.

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

-

20% on reducing balance

Fixtures, fittings & equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

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

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 13 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

Plant and

fittings

Motor

Computer

machinery

& equipment

vehicles

equipment

Totals

£

COST

At 1 April 2024

777

34,248

117,854

11,784

164,663

Additions

806

-

2,438

3,244

Disposals

-

(11,056

)

-

(11,056

)

At 31 March 2025

1,583

34,248

106,798

14,222

156,851

DEPRECIATION

At 1 April 2024

76

30,950

46,520

3,208

80,754

Charge for year

263

659

17,510

1,770

20,202

Eliminated on disposal

-

(9,765

)

-

(9,765

)

At 31 March 2025

339

31,609

54,265

4,978

91,191

NET BOOK VALUE

At 31 March 2025

1,244

2,639

52,533

9,244

65,660

At 31 March 2024

701

3,298

71,334

8,576

83,909

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

108,603

110,496

Other debtors

1,656

-

Prepayments

8,189

5,983

118,448

116,479

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

10,000

Trade creditors

75,821

83,365

Amounts owed to group undertakings

63,046

Tax

15,087

12,124

Social security and other taxes

33,407

38,029

Other creditors

14,826

12,674

212,187

219,238

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans - 1-2 years

1,667

10,000

Bank loans - 2-5 years

-

1,667

11,667

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

Within one year

10,120

8,280

Between one and five years

20,240

16,560

30,360

24,840

9.	ULTIMATE CONTROLLING PARTY

The controlling party is R G May.