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REGISTERED NUMBER: 04600827 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

GKF ENGINEERING LIMITED

GKF ENGINEERING LIMITED (REGISTERED NUMBER: 04600827)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GKF ENGINEERING LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTORS: T D B Harrison
Mrs B K Blair-Harrison





REGISTERED OFFICE: 93 Oxford Street West
Ashton-under-Lyne
Lancashire
OL7 0LZ





REGISTERED NUMBER: 04600827 (England and Wales)





ACCOUNTANTS: Connaughton & Co
2nd Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY

GKF ENGINEERING LIMITED (REGISTERED NUMBER: 04600827)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,416
Tangible assets 5 98,852 117,514
98,852 119,930

CURRENT ASSETS
Stocks 154,653 187,101
Debtors 6 2,588,900 2,699,340
Cash at bank and in hand 50,392 77,152
2,793,945 2,963,593
CREDITORS
Amounts falling due within one year 7 1,354,125 1,231,725
NET CURRENT ASSETS 1,439,820 1,731,868
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,538,672

1,851,798

CREDITORS
Amounts falling due after more than one
year

8

92,585

204,543
NET ASSETS 1,446,087 1,647,255

CAPITAL AND RESERVES
Called up share capital 10 300 300
Retained earnings 11 1,445,787 1,646,955
SHAREHOLDERS' FUNDS 1,446,087 1,647,255

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

GKF ENGINEERING LIMITED (REGISTERED NUMBER: 04600827)

BALANCE SHEET - continued
30 June 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 27 March 2025 and were signed on its behalf by:





T D B Harrison - Director


GKF ENGINEERING LIMITED (REGISTERED NUMBER: 04600827)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

GKF Engineering 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.

Related party exemption
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 other companies within the group.

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.

Website costs are being amortised evenly over their estimated useful life of three years.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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 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.


GKF ENGINEERING LIMITED (REGISTERED NUMBER: 04600827)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 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.

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 32 (2023 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Website
costs
£   
COST
At 1 July 2023
and 30 June 2024 7,250
AMORTISATION
At 1 July 2023 4,834
Amortisation for year 2,416
At 30 June 2024 7,250
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 2,416

GKF ENGINEERING LIMITED (REGISTERED NUMBER: 04600827)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 262,673 19,094 73,000 23,483 378,250
Additions - - - 6,704 6,704
At 30 June 2024 262,673 19,094 73,000 30,187 384,954
DEPRECIATION
At 1 July 2023 213,149 16,505 10,646 20,436 260,736
Charge for year 7,428 388 15,588 1,962 25,366
At 30 June 2024 220,577 16,893 26,234 22,398 286,102
NET BOOK VALUE
At 30 June 2024 42,096 2,201 46,766 7,789 98,852
At 30 June 2023 49,524 2,589 62,354 3,047 117,514

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023
and 30 June 2024 73,000
DEPRECIATION
At 1 July 2023 10,646
Charge for year 15,588
At 30 June 2024 26,234
NET BOOK VALUE
At 30 June 2024 46,766
At 30 June 2023 62,354

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 588,673 710,812
Amounts owed by group undertakings 1,967,114 1,967,114
Other debtors 33,113 21,414
2,588,900 2,699,340

GKF ENGINEERING LIMITED (REGISTERED NUMBER: 04600827)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 98,036 116,812
Hire purchase contracts 13,922 12,541
Trade creditors 197,356 256,227
Taxation and social security 211,040 75,718
Other creditors 833,771 770,427
1,354,125 1,231,725

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 53,842 151,878
Hire purchase contracts 38,743 52,665
92,585 204,543

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 52,665 65,206
Loan facilities 131,044 237,856
Invoice discounting 484,492 555,740
668,201 858,802

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
300 Ordinary £1 300 300

11. RESERVES
Retained
earnings
£   

At 1 July 2023 1,646,955
Deficit for the year (201,168 )
At 30 June 2024 1,445,787

12. FINANCIAL COMMITMENTS

Total finance commitments, guarantees and contingencies which are not included within the balance sheet amount to £71,828 (2023 - £101,834).

GKF ENGINEERING LIMITED (REGISTERED NUMBER: 04600827)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

13. POST BALANCE SHEET EVENTS

The company changed its name from Goyt Kitchen Fabrications Limited to GKF Engineering Limited by special resolution passed by the members on 15 August 2024.

14. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling parties are T D B Harrison and Mrs B K Blair-Harrison by virtue of their ownership of 50% each of the issued share capital in the ultimate parent company - Whirley Engineering Limited.