GILCREST MANUFACTURING LIMITED

Company Registration Number:
04401860 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

GILCREST MANUFACTURING LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

GILCREST MANUFACTURING LIMITED

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

The principal activity of the company is the manufacturing of high quality composite panel solutions.



Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

Kevin Michael Mervyn Gillham
Sarah Jane Fowke
Stephen Griffiths


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
5 August 2024

And signed on behalf of the board by:
Name: Kevin Michael Mervyn Gillham
Status: Director

GILCREST MANUFACTURING LIMITED

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 7,772,998 6,888,843
Cost of sales: ( 4,993,724 ) ( 4,191,290 )
Gross profit(or loss): 2,779,274 2,697,553
Distribution costs: 0 0
Administrative expenses: ( 1,523,511 ) ( 1,810,229 )
Other operating income: 4,025 214,627
Operating profit(or loss): 1,259,788 1,101,951
Interest receivable and similar income: 0 0
Interest payable and similar charges: ( 16,484 ) ( 10,567 )
Profit(or loss) before tax: 1,243,304 1,091,384
Tax: ( 291,000 ) ( 114,793 )
Profit(or loss) for the financial year: 952,304 976,591

GILCREST MANUFACTURING LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 126,479 55,668
Tangible assets: 4 546,371 659,858
Investments:   0 0
Total fixed assets: 672,850 715,526
Current assets
Stocks: 5 805,277 812,288
Debtors: 6 1,183,888 1,237,497
Cash at bank and in hand: 1,737,792 674,799
Investments:   0 0
Total current assets: 3,726,957 2,724,584
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 7 ( 1,628,423 ) ( 1,451,905 )
Net current assets (liabilities): 2,098,534 1,272,679
Total assets less current liabilities: 2,771,384 1,988,205
Creditors: amounts falling due after more than one year: 8 ( 28,998 ) ( 73,603 )
Provision for liabilities: ( 160,344 ) ( 168,664 )
Accruals and deferred income: 0 0
Total net assets (liabilities): 2,582,042 1,745,938
Capital and reserves
Called up share capital: 200 200
Share premium account: 24,900 24,900
Other reserves: 0 0
Profit and loss account: 2,556,942 1,720,838
Total Shareholders' funds: 2,582,042 1,745,938

The notes form part of these financial statements

GILCREST MANUFACTURING LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 5 August 2024
and signed on behalf of the board by:

Name: Kevin Michael Mervyn Gillham
Status: Director

The notes form part of these financial statements

GILCREST MANUFACTURING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    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 Plant and machinery 10-20% Straight line Fixtures, fitting & equipment 10-33% Straight line Motor vehicles 20% Straight line

    Intangible fixed assets amortisation policy

    Amortisation Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Asset class Amortisation method and rate Computer software 5 years Straight line

GILCREST MANUFACTURING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 38 32

GILCREST MANUFACTURING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2023 0 55,668 55,668
Additions 0 91,909 91,909
Disposals 0 0 0
Revaluations 0 0 0
Transfers 0 0 0
At 31 December 2023 0 147,577 147,577
Amortisation
At 1 January 2023 0 0 0
Charge for year 0 21,098 21,098
On disposals 0 0 0
Other adjustments 0 0 0
At 31 December 2023 0 21,098 21,098
Net book value
At 31 December 2023 0 126,479 126,479
At 31 December 2022 0 55,668 55,668

GILCREST MANUFACTURING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 0 615,183 136,166 0 191,660 943,009
Additions 0 0 16,952 0 0 16,952
Disposals 0 ( 4,934 ) 0 0 0 ( 4,934 )
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 December 2023 0 610,249 153,118 0 191,660 955,027
Depreciation
At 1 January 2023 0 181,723 74,199 0 27,229 283,151
Charge for year 0 68,064 23,387 0 34,803 126,254
On disposals 0 ( 749 ) 0 0 0 ( 749 )
Other adjustments 0 0 0 0 0 0
At 31 December 2023 0 249,038 97,586 0 62,032 408,656
Net book value
At 31 December 2023 0 361,211 55,532 0 129,628 546,371
At 31 December 2022 0 433,460 61,967 0 164,431 659,858

GILCREST MANUFACTURING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Stocks

2023 2022
£ £
Stocks 805,277 812,288
Payments on account 0 0
Total 805,277 812,288

GILCREST MANUFACTURING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Debtors

2023 2022
£ £
Trade debtors 953,710 996,394
Prepayments and accrued income 106,590 0
Other debtors 123,588 241,103
Total 1,183,888 1,237,497

GILCREST MANUFACTURING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due within one year note

2023 2022
£ £
Amounts due under finance leases and hire purchase contracts 39,771 66,224
Trade creditors 1,052,597 955,898
Taxation and social security 34,487 98,417
Accruals and deferred income 202,248 331,366
Other creditors 299,320
Total 1,628,423 1,451,905

GILCREST MANUFACTURING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Amounts due under finance leases and hire purchase contracts 28,998 73,603
Total 28,998 73,603

GILCREST MANUFACTURING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

9. Financial Commitments

Amounts not provided for in the balance sheet The total amount of financial commitments not included in the balance sheet is £166,000 (2022 - £Nil). At 31 December 2023, the company had capital commitments contracted for but not provided for in these financial statements of £166,000 (2022 - £nil). The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £59,003 (2022: £49,437). There is an amount outstanding in respect of this as at the balance sheet date within the taxation and social security of £9,093.18 (2022: £6,919).