Registration number: 13860442

Gigawatt Industries Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Gigawatt Industries Ltd

(Registration number: 13860442)
Balance Sheet as at 31 May 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	85,919	21,212
Current assets
Stocks	5	357,537	36,000
Debtors	6	1,136,288	549,085
Cash at bank and in hand		44,339	1,546
		1,538,164	586,631
Creditors: Amounts falling due within one year	7	(1,116,755)	(443,558)
Net current assets		421,409	143,073
Total assets less current liabilities		507,328	164,285
Provisions for liabilities		(21,480)	(4,030)
Net assets		485,848	160,255
Capital and reserves
Called up share capital		100	100
Retained earnings		485,748	160,155
Shareholders' funds		485,848	160,255

For the financial year ending 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Gigawatt Industries Ltd

(Registration number: 13860442)
Balance Sheet as at 31 May 2026

Approved and authorised by the Board on 30 September 2026 and signed on its behalf by:
 

......................................... Mr D J Cook Director

......................................... Mr A C Francis Director

Gigawatt Industries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 Thorne Road
Doncaster
South Yorkshire
DN1 2HJ

These financial statements were authorised for issue by the Board on 30 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Gigawatt Industries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% per annum on a reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Gigawatt Industries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Gigawatt Industries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2025 - 14).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 June 2025	33,662	33,662
Additions	93,458	93,458
At 31 May 2026	127,120	127,120
Depreciation
At 1 June 2025	12,450	12,450
Charge for the year	28,751	28,751
At 31 May 2026	41,201	41,201
Carrying amount
At 31 May 2026	85,919	85,919
At 31 May 2025	21,212	21,212

5

Stocks

	2026 £	2025 £
Work in progress	357,537	36,000

6

Debtors

	Note	2026 £	2025 £
Trade debtors		683,138	361,936
Amounts owed by related parties	10	-	79,910
Other debtors		437,750	106,208
Prepayments		15,400	1,031
		1,136,288	549,085

Gigawatt Industries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	8	610,576	274,509
Trade creditors		80,634	11,214
Amounts owed to related parties	10	41,846	445
Corporation tax		372,657	151,908
Other creditors		7,168	5,030
Accrued expenses		3,874	452
		1,116,755	443,558

Gigawatt Industries Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

8	Loans and borrowings

Current loans and borrowings

	2026 £	2025 £
Other borrowings	610,576	274,509

9	Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £182,370 (2025 - £Nil).

10	Related party transactions

Loans to related parties

2026	Entities with joint control or significant influence £	Key management £	Total £
At start of period	22,471	57,439	79,910
Repaid	-	(57,439)	(57,439)
Impairment	(22,471)	-	(22,471)
At end of period	-	-	-

2025	Entities with joint control or significant influence £	Key management £	Total £
At start of period	22,471	73,298	95,769
Repaid	-	(15,859)	(15,859)
At end of period	22,471	57,439	79,910

Terms of loans to related parties

There are no repayment terms and interest is only charged on balances owed by key management. Key management includes the directors.