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REGISTERED NUMBER: 05850177 (England and Wales)

















GRADE 1 METALWORKS (GARY PARKINSON)
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






GRADE 1 METALWORKS (GARY PARKINSON)
LIMITED (REGISTERED NUMBER: 05850177)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


GRADE 1 METALWORKS (GARY PARKINSON)
LIMITED (REGISTERED NUMBER: 05850177)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 953 1,271
Investments 6 2 2
Investment property 7 425,000 425,000
425,955 426,273

CURRENT ASSETS
Debtors 8 256,907 173,528
Cash at bank 67,675 276,852
324,582 450,380
CREDITORS
Amounts falling due within one year 9 17,437 14,188
NET CURRENT ASSETS 307,145 436,192
TOTAL ASSETS LESS CURRENT
LIABILITIES

733,100

862,465

PROVISIONS FOR LIABILITIES 8,708 8,788
NET ASSETS 724,392 853,677

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 724,292 853,577
SHAREHOLDERS' FUNDS 724,392 853,677

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

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

GRADE 1 METALWORKS (GARY PARKINSON)
LIMITED (REGISTERED NUMBER: 05850177)

BALANCE SHEET - continued
31 DECEMBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 March 2025 and were signed by:





G Parkinson - Director


GRADE 1 METALWORKS (GARY PARKINSON)
LIMITED (REGISTERED NUMBER: 05850177)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Grade 1 Metalworks (Gary Parkinson) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05850177

Registered office: Broad House
The Broadway
Old Hatfield
Herts
AL9 5BG

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.

Going concern
The financial statements have been prepared on a going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about Grade 1 Metalworks (Gary Parkinson) Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Represents net value of goods sold and services supplied, excluding Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

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.

GRADE 1 METALWORKS (GARY PARKINSON)
LIMITED (REGISTERED NUMBER: 05850177)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

Financial instruments
The company only enters into basic financial instruments 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 non-puttable 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 Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

GRADE 1 METALWORKS (GARY PARKINSON)
LIMITED (REGISTERED NUMBER: 05850177)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 15,000
AMORTISATION
At 1 January 2024
and 31 December 2024 15,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2024
and 31 December 2024 2,522
DEPRECIATION
At 1 January 2024 1,251
Charge for year 318
At 31 December 2024 1,569
NET BOOK VALUE
At 31 December 2024 953
At 31 December 2023 1,271

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2024
and 31 December 2024 2
NET BOOK VALUE
At 31 December 2024 2
At 31 December 2023 2

GRADE 1 METALWORKS (GARY PARKINSON)
LIMITED (REGISTERED NUMBER: 05850177)

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

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 425,000
NET BOOK VALUE
At 31 December 2024 425,000
At 31 December 2023 425,000

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2021 6,367
Valuation in 2023 50,000
Cost 368,633
425,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings - 170,000
Other debtors 256,907 3,528
256,907 173,528

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 444 445
Taxation and social security 15,459 11,481
Other creditors 1,534 2,262
17,437 14,188

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
G Parkinson
Balance outstanding at start of year (809 ) (238 )
Amounts advanced 470,187 167,429
Amounts repaid (215,000 ) (168,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 254,378 (809 )

GRADE 1 METALWORKS (GARY PARKINSON)
LIMITED (REGISTERED NUMBER: 05850177)

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

11. RELATED PARTY DISCLOSURES

At the balance sheet date, NIL (2023 - £170,000) was due from Grade 1 Steel Erectors Limited, a company of which Mr G Parkinson is a director.