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REGISTERED NUMBER: 07693191 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

G. T TOOLING LTD

G. T TOOLING LTD (REGISTERED NUMBER: 07693191)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G. T TOOLING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Mr G Simmonds





REGISTERED OFFICE: Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS





BUSINESS ADDRESS: Unit 3 Shogun House
Davis Way
Newgate Lane
Fareham
Hampshire
PO14 1JF





REGISTERED NUMBER: 07693191 (England and Wales)





ACCOUNTANTS: Casson Beckman
Chartered Accountants
Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS

G. T TOOLING LTD (REGISTERED NUMBER: 07693191)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 357,520 166,041

CURRENT ASSETS
Stocks 31,202 19,775
Debtors 5 221,771 210,963
Cash at bank and in hand 206,572 186,370
459,545 417,108
CREDITORS
Amounts falling due within one year 6 257,358 238,627
NET CURRENT ASSETS 202,187 178,481
TOTAL ASSETS LESS CURRENT
LIABILITIES

559,707

344,522

CREDITORS
Amounts falling due after more than one year 7 (411,504 ) (121,444 )

PROVISIONS FOR LIABILITIES (53,984 ) (31,338 )
NET ASSETS 94,219 191,740

CAPITAL AND RESERVES
Called up share capital 21 21
Retained earnings 94,198 191,719
SHAREHOLDERS' FUNDS 94,219 191,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

G. T TOOLING LTD (REGISTERED NUMBER: 07693191)

BALANCE SHEET - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 January 2024 and were signed by:





Mr G Simmonds - Director


G. T TOOLING LTD (REGISTERED NUMBER: 07693191)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

G. T Tooling Ltd 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.

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.

Turnover
Turnover represents amounts receivable for work done net of discounts and VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

G. T TOOLING LTD (REGISTERED NUMBER: 07693191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2022 2,950 497,984 18,546 3,200 522,680
Additions - 317,430 - - 317,430
Disposals - (45,080 ) - - (45,080 )
At 31 July 2023 2,950 770,334 18,546 3,200 795,030
DEPRECIATION
At 1 August 2022 2,950 341,323 9,166 3,200 356,639
Charge for year - 116,520 1,407 - 117,927
Eliminated on disposal - (37,056 ) - - (37,056 )
At 31 July 2023 2,950 420,787 10,573 3,200 437,510
NET BOOK VALUE
At 31 July 2023 - 349,547 7,973 - 357,520
At 31 July 2022 - 156,661 9,380 - 166,041

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 207,847 200,323
Other debtors 13,924 10,640
221,771 210,963

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 77,648 35,394
Trade creditors 55,134 31,764
Amounts owed to group undertakings 100,000 100,000
Taxation and social security 11,596 56,580
Other creditors 12,980 14,889
257,358 238,627

G. T TOOLING LTD (REGISTERED NUMBER: 07693191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 393,167 94,016
Other creditors 18,337 27,428
411,504 121,444

8. LEASING AGREEMENTS

At the balance sheet date the company had leasing commitments of £7,870 (2022 £31,481)

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 470,815 129,410

Debts due under hire purchase contracts are secured on the assets to which the debt relates.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

G. T Tooling Limited is wholly owned by G. T Securities Limited whose registered office and principal place of business is Unit 3 Shogun House, Davis Way, Newgate Lane, Fareham, Hampshire PO14 1FJ.