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REGISTERED NUMBER: 07693191 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

G. T TOOLING LTD

G. T TOOLING LTD (REGISTERED NUMBER: 07693191)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










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 2024







DIRECTOR: Mr G Simmonds





SECRETARY: Mrs E Simmonds





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





REGISTERED NUMBER: 07693191 (England and Wales)





ACCOUNTANTS: BK Plus Limited
Chartered Certified Accountants
Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS

G. T TOOLING LTD (REGISTERED NUMBER: 07693191)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 493,851 357,520

CURRENT ASSETS
Stocks 37,675 31,202
Debtors 5 245,201 221,771
Cash at bank and in hand 165,049 206,572
447,925 459,545
CREDITORS
Amounts falling due within one year 6 233,116 257,358
NET CURRENT ASSETS 214,809 202,187
TOTAL ASSETS LESS CURRENT LIABILITIES 708,660 559,707

CREDITORS
Amounts falling due after more than one year 7 (438,989 ) (411,504 )

PROVISIONS FOR LIABILITIES (121,628 ) (53,984 )
NET ASSETS 148,043 94,219

CAPITAL AND RESERVES
Called up share capital 21 21
Revaluation reserve 10 106,281 -
Retained earnings 10 41,741 94,198
SHAREHOLDERS' FUNDS 148,043 94,219

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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 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 director and authorised for issue on 12 December 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 2024


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 as modified by the revaluation of certain assets.

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

Revalued assets are valued on an open market basis.

The annual depreciation charge which relates to the revaluation surplus has been transferred from the revaluation reserve to the profit and loss account.

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.

G. T TOOLING LTD (REGISTERED NUMBER: 07693191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 August 2023 2,950 770,334 18,546 3,200 795,030
Additions 28,363 173,844 - 9,900 212,107
Disposals - (76,500 ) - - (76,500 )
Revaluations - 89,500 - - 89,500
At 31 July 2024 31,313 957,178 18,546 13,100 1,020,137
DEPRECIATION
At 1 August 2023 2,950 420,787 10,573 3,200 437,510
Charge for year 5,673 152,321 1,196 2,475 161,665
Eliminated on disposal - (72,889 ) - - (72,889 )
At 31 July 2024 8,623 500,219 11,769 5,675 526,286
NET BOOK VALUE
At 31 July 2024 22,690 456,959 6,777 7,425 493,851
At 31 July 2023 - 349,547 7,973 - 357,520

Cost or valuation at 31 July 2024 is represented by:

Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2024 - 89,500 - - 89,500
Cost 31,313 867,678 18,546 13,100 930,637
31,313 957,178 18,546 13,100 1,020,137

G. T TOOLING LTD (REGISTERED NUMBER: 07693191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. TANGIBLE FIXED ASSETS - continued

If plant and machinery had not been revalued 2024 would have been included at the following historical cost:

2024 2023
£    £   
Cost 867,678 730,334
Aggregate depreciation 447,844 420,787

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 236,890 207,847
Other debtors 8,311 13,924
245,201 221,771

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 103,547 77,648
Trade creditors 68,927 55,134
Amounts owed to group undertakings - 100,000
Taxation and social security 47,519 11,596
Other creditors 13,123 12,980
233,116 257,358

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 430,652 393,167
Other creditors 8,337 18,337
438,989 411,504

8. LEASING AGREEMENTS

At the balance sheet date the company had leasing commitments of £xxxx (2023 £7,870)

G. T TOOLING LTD (REGISTERED NUMBER: 07693191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 534,199 470,815

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

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 August 2023 94,198 - 94,198
Profit for the year 89,235 89,235
Dividends (119,317 ) (119,317 )
Revalued equipment - 89,500 89,500
Excess depreciation (22,375 ) 22,375 -
DT on excess depreciation - (5,594 ) (5,594 )
At 31 July 2024 41,741 106,281 148,022

11. 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.

12. 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.