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REGISTERED NUMBER: 01214643 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

GILMARTINS (SHEET METAL) LIMITED

GILMARTINS (SHEET METAL) LIMITED (REGISTERED NUMBER: 01214643)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GILMARTINS (SHEET METAL) LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTOR: N Casey





REGISTERED OFFICE: 101 King Street
Whalley
Clitheroe
BB7 9SW





REGISTERED NUMBER: 01214643 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

GILMARTINS (SHEET METAL) LIMITED (REGISTERED NUMBER: 01214643)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 286,080 167,203

CURRENT ASSETS
Stocks 13,800 12,600
Debtors 5 512 548
Cash at bank and in hand 13,889 9,928
28,201 23,076
CREDITORS
Amounts falling due within one year 6 54,588 29,817
NET CURRENT LIABILITIES (26,387 ) (6,741 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

259,693

160,462

CREDITORS
Amounts falling due after more than one
year

7

(146,927

)

(143,218

)

PROVISIONS FOR LIABILITIES (362 ) (362 )
NET ASSETS 112,404 16,882

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 112,304 16,782
112,404 16,882

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

GILMARTINS (SHEET METAL) LIMITED (REGISTERED NUMBER: 01214643)

BALANCE SHEET - continued
30 June 2023


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 1 February 2024 and were signed by:





N Casey - Director


GILMARTINS (SHEET METAL) LIMITED (REGISTERED NUMBER: 01214643)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Gilmartins (Sheet Metal) 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% 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.

Government grants
Income received from government grants is accounted for on the accruals basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

GILMARTINS (SHEET METAL) LIMITED (REGISTERED NUMBER: 01214643)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 140,000 60,573 200,573
Additions - 55,464 55,464
Disposals - (46,614 ) (46,614 )
Revaluations 110,000 - 110,000
At 30 June 2023 250,000 69,423 319,423
DEPRECIATION
At 1 July 2022 11,200 22,170 33,370
Charge for year 2,800 8,827 11,627
Eliminated on disposal - (11,654 ) (11,654 )
At 30 June 2023 14,000 19,343 33,343
NET BOOK VALUE
At 30 June 2023 236,000 50,080 286,080
At 30 June 2022 128,800 38,403 167,203

Cost or valuation at 30 June 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 110,000 - 110,000
Cost 140,000 69,423 209,423
250,000 69,423 319,423

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 512 548

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,382 9,382
Hire purchase contracts 3,497 -
Trade creditors 7,659 6,773
Taxation and social security 6,536 1,317
Other creditors 27,514 12,345
54,588 29,817

GILMARTINS (SHEET METAL) LIMITED (REGISTERED NUMBER: 01214643)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 98,956 108,128
Hire purchase contracts 31,881 -
Other creditors 16,090 35,090
146,927 143,218

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 61,427 70,599

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 108,338 117,510

The bank loan and overdraft are secured by a charge over the land and property at 101 King Street, Whalley, BB7 9SW.

9. ULTIMATE CONTROLLING PARTY

The controlling party is N Casey.