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REGISTERED NUMBER: 05548235 (England and Wales)














Financial Statements

for the Year Ended 27 December 2023

for

Guy Machinery Limited

Guy Machinery Limited (Registered number: 05548235)

Contents of the Financial Statements
for the Year Ended 27 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Guy Machinery Limited

Company Information
for the Year Ended 27 December 2023







DIRECTOR: G A Guy





REGISTERED OFFICE: Oriel House
2-8 Oriel Road
Bootle
Merseyside
L20 7EP





REGISTERED NUMBER: 05548235 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Guy Machinery Limited (Registered number: 05548235)

Balance Sheet
27 December 2023

27.12.23 27.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 47,680 64,794
47,680 64,794

CURRENT ASSETS
Stocks 3,011,330 2,599,436
Debtors 6 162,638 366,974
Cash at bank and in hand 28,088 35,505
3,202,056 3,001,915
CREDITORS
Amounts falling due within one year 7 2,028,339 1,742,857
NET CURRENT ASSETS 1,173,717 1,259,058
TOTAL ASSETS LESS CURRENT LIABILITIES 1,221,397 1,323,852

CREDITORS
Amounts falling due after more than one year 8 (312,945 ) (388,442 )

PROVISIONS FOR LIABILITIES (11,920 ) (15,846 )
NET ASSETS 896,532 919,564

CAPITAL AND RESERVES
Called up share capital 10 50,000 50,000
Retained earnings 846,532 869,564
SHAREHOLDERS' FUNDS 896,532 919,564

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 December 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.

Guy Machinery Limited (Registered number: 05548235)

Balance Sheet - continued
27 December 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 26 September 2024 and were signed by:





G A Guy - Director


Guy Machinery Limited (Registered number: 05548235)

Notes to the Financial Statements
for the Year Ended 27 December 2023


1. STATUTORY INFORMATION

Guy Machinery 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance and 15% on reducing balance
Motor vehicles - 25% 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 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.

Guy Machinery Limited (Registered number: 05548235)

Notes to the Financial Statements - continued
for the Year Ended 27 December 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 28 December 2022
and 27 December 2023 5,250
AMORTISATION
At 28 December 2022
and 27 December 2023 5,250
NET BOOK VALUE
At 27 December 2023 -
At 27 December 2022 -

Guy Machinery Limited (Registered number: 05548235)

Notes to the Financial Statements - continued
for the Year Ended 27 December 2023


5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 28 December 2022 173,372 32,884 206,256
Additions 7,016 - 7,016
Disposals - (23,509 ) (23,509 )
At 27 December 2023 180,388 9,375 189,763
DEPRECIATION
At 28 December 2022 122,279 19,183 141,462
Charge for year 14,219 3,245 17,464
Eliminated on disposal - (16,843 ) (16,843 )
At 27 December 2023 136,498 5,585 142,083
NET BOOK VALUE
At 27 December 2023 43,890 3,790 47,680
At 27 December 2022 51,093 13,701 64,794

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 28 December 2022
and 27 December 2023 53,742 9,375 63,117
DEPRECIATION
At 28 December 2022 22,949 4,322 27,271
Charge for year 4,363 1,263 5,626
At 27 December 2023 27,312 5,585 32,897
NET BOOK VALUE
At 27 December 2023 26,430 3,790 30,220
At 27 December 2022 30,793 5,053 35,846

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.12.23 27.12.22
£    £   
Trade debtors 113,823 319,826
Other debtors 13,551 1,858
Prepayments 35,264 45,290
162,638 366,974

Guy Machinery Limited (Registered number: 05548235)

Notes to the Financial Statements - continued
for the Year Ended 27 December 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
27.12.23 27.12.22
£    £   
Bank loans and overdrafts 261,487 176,824
Hire purchase contracts 14,272 14,849
Trade creditors 599,869 411,248
Tax 184,980 169,663
Social security and other taxes 42,817 46,778
VAT 53,634 42,917
Other creditors 814,328 806,171
Directors' current accounts 45,367 45,653
Accrued expenses 11,585 28,754
2,028,339 1,742,857

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
27.12.23 27.12.22
£    £   
Bank loans - 1-2 years 63,281 28,774
Bank loans - 2-5 years 164,009 70,562
Bank loans more 5 yr by instal 85,655 274,834
Hire purchase contracts - 14,272
312,945 388,442

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 85,655 274,834

9. SECURED DEBTS

The following secured debts are included within creditors:

27.12.23 27.12.22
£    £   
Bank overdrafts 198,206 148,050
Bank loans 376,226 402,944
Other creditors 779,263 786,966
1,353,695 1,337,960

The bank overdraft is secured by a debentures on the assets of the company dated 23 July 2010.

The Coronavirus Business Interruption Loan is secured by HM Government.

Stocking creditors, included within Other Creditors are secured against the stock assets to which the liabilities relate.

Guy Machinery Limited (Registered number: 05548235)

Notes to the Financial Statements - continued
for the Year Ended 27 December 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 27.12.23 27.12.22
value: £    £   
50,000 Ordinary 50000 50,000 50,000