G.T.W. Holdings Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC005385 (Scotland)

Financial Statements For The Year Ended 30 September 2023

for

G.T.W. Holdings Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J Campbell

Miss J Ritchie

SECRETARIES:

Mrs J Campbell

Mrs S Currie

REGISTERED OFFICE:

45 James Watt Street

Glasgow

G2 8NF

REGISTERED NUMBER:

SC005385 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

BANKERS:

Virgin Money UK PLC

30 St Vincent Place

Glasgow

G1 2HL

SOLICITORS:

Thorntons Solicitors

Whitehall House

33 Yeaman Shore

Dundee

DD1 4BJ

FIXED ASSETS

Tangible assets

4

68,615

72,183

Investments

5

60,000

60,000

128,615

132,183

CURRENT ASSETS

Debtors

6

812,472

593,133

Cash at bank

938,441

1,034,378

1,750,913

1,627,511

CREDITORS

Amounts falling due within one year

7

128,505

126,459

NET CURRENT ASSETS

1,622,408

1,501,052

TOTAL ASSETS LESS CURRENT LIABILITIES

1,751,023

1,633,235

CAPITAL AND RESERVES

Called up share capital

8

101,958

101,958

Capital redemption reserve

118,042

118,042

Retained earnings

1,531,023

1,413,235

SHAREHOLDERS' FUNDS

1,751,023

1,633,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:

Miss J Ritchie - Director

1.	STATUTORY INFORMATION

G.T.W. Holdings Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Heritable property

-

2% on cost

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the statement of comprehensive income. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the statement of comprehensive income.

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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Heritable

Plant &

property

machinery

Totals

£

£

£

COST

At 1 October 2022

and 30 September 2023

178,416

6,189

184,605

DEPRECIATION

At 1 October 2022

106,233

6,189

112,422

Charge for year

3,568

-

3,568

At 30 September 2023

109,801

6,189

115,990

NET BOOK VALUE

At 30 September 2023

68,615

-

68,615

At 30 September 2022

72,183

-

72,183

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2022

and 30 September 2023

60,000

NET BOOK VALUE

At 30 September 2023

60,000

At 30 September 2022

60,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

285,000

145,000

Due from group companies

527,472

448,133

812,472

593,133

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Tax

7,679

5,633

Other creditors

70,000

70,000

Due to group companies

50,000

50,000

Accrued expenses

826

826

128,505

126,459

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

90,736

Ordinary

£1.00

90,736

90,736

11,222

Preference

£1.00

11,222

11,222

101,958

101,958

The preference shares have the same voting rights as the ordinary share capital of the company and attract a dividend of 7.2% per annum. The holders of the ordinary shares rank second to the holders of the preference shares on winding up. The preference shares have no set redemption dates.

9.	RELATED PARTY DISCLOSURES

As group accounts are prepared, the company has taken advantage of the exemption from disclosing transactions with group companies.

Obra Properties Ltd

A company controlled by Miss J Ritchie & Mrs S Currie, who are shareholders in G.T.W. Holdings Limited.

As at 30 September 2023, the loan balance was £285,000 due to G.T.W. Holdings Limited from Obra Properties Ltd (2022: £145,000).