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REGISTERED NUMBER: 01225046 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

G.K.R. (Sheet Metal) Limited

G.K.R. (Sheet Metal) Limited (Registered number: 01225046)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


G.K.R. (Sheet Metal) Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: G Radford
Mrs J L Radford
Mrs A M Ford





SECRETARY: Mrs J L Radford





REGISTERED OFFICE: Honeyholes Lane
Dunholme
Lincoln
Lincolnshire
LN2 3SU





REGISTERED NUMBER: 01225046 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
G.K.R. (Sheet Metal) Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G.K.R. (Sheet Metal) Limited for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of G.K.R. (Sheet Metal) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G.K.R. (Sheet Metal) Limited and state those matters that we have agreed to state to the Board of Directors of G.K.R. (Sheet Metal) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G.K.R. (Sheet Metal) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that G.K.R. (Sheet Metal) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of G.K.R. (Sheet Metal) Limited. You consider that G.K.R. (Sheet Metal) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G.K.R. (Sheet Metal) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA


Date: .............................................

G.K.R. (Sheet Metal) Limited (Registered number: 01225046)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 451,664 369,914
Investment property 5 455,000 455,000
906,664 824,914

CURRENT ASSETS
Stocks 68,502 77,936
Debtors 6 96,828 79,776
Cash at bank and in hand 353,986 489,320
519,316 647,032
CREDITORS
Amounts falling due within one year 7 25,859 49,656
NET CURRENT ASSETS 493,457 597,376
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,400,121

1,422,290

PROVISIONS FOR LIABILITIES 48,881 32,427
NET ASSETS 1,351,240 1,389,863

CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Retained earnings - undistributable reserves 9 254,791 254,791
Fair value reserve 9 253,733 253,733
Retained earnings 840,716 879,339
SHAREHOLDERS' FUNDS 1,351,240 1,389,863

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

G.K.R. (Sheet Metal) Limited (Registered number: 01225046)

Balance Sheet - continued
31 August 2024


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 Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:




G Radford - Director



Mrs J L Radford - Director


G.K.R. (Sheet Metal) Limited (Registered number: 01225046)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

G.K.R. (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 each asset over its estimated useful life.


Freehold property- 2% on cost
Plant and machinery- 10% and 20% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.


G.K.R. (Sheet Metal) Limited (Registered number: 01225046)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Land and Plant and Motor Computer
Buildings machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 359,400 283,487 4,650 31,827 679,364
Additions - 111,500 - - 111,500
At 31 August 2024 359,400 394,987 4,650 31,827 790,864
DEPRECIATION
At 1 September 2023 12,976 260,857 4,134 31,483 309,450
Charge for year 4,288 25,034 129 299 29,750
At 31 August 2024 17,264 285,891 4,263 31,782 339,200
NET BOOK VALUE
At 31 August 2024 342,136 109,096 387 45 451,664
At 31 August 2023 346,424 22,630 516 344 369,914

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 455,000
NET BOOK VALUE
At 31 August 2024 455,000
At 31 August 2023 455,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2006 7,744
Valuation in 2010 95,000
Valuation in 2017 175,000
Valuation in 2021 5,000
Cost 172,256
455,000

G.K.R. (Sheet Metal) Limited (Registered number: 01225046)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 172,256 172,256

Investment property was valued on an open market basis on 31 August 2021 by Lincolnshire Surveyors Limited .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 68,185 67,571
Other debtors 28,643 12,205
96,828 79,776

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,185 7,587
Taxation and social security 4,094 29,689
Other creditors 12,580 12,380
25,859 49,656

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary £1 2,000 2,000

9. RESERVES
Retained
earnings Fair
- undistributable value
reserves reserve Totals
£    £    £   
At 1 September 2023
and 31 August 2024 254,791 253,733 508,524

10. ULTIMATE CONTROLLING PARTY

G Radford, Mrs J L Radford and Mrs A M Ford share equally the ultimate control over the company.