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REGISTERED NUMBER: 01681551 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

GORGE FABRICATIONS LIMITED

GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 129,926 25,010
Investments 5 200 200
Investment property 6 1,020,000 921,301
1,150,126 946,511

CURRENT ASSETS
Stocks 331,743 741,686
Debtors 7 287,438 307,773
Cash at bank and in hand 76,415 253,965
695,596 1,303,424
CREDITORS
Amounts falling due within one year 8 612,797 765,379
NET CURRENT ASSETS 82,799 538,045
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,232,925

1,484,556

CREDITORS
Amounts falling due after more than
one year

9

264,083

447,083
NET ASSETS 968,842 1,037,473

CAPITAL AND RESERVES
Called up share capital 58,000 58,000
Other reserves 118,071 25,468
Retained earnings 792,771 954,005
SHAREHOLDERS' FUNDS 968,842 1,037,473

GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551)

BALANCE SHEET - continued
31 JULY 2024


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 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.

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 23 April 2025 and were signed on its behalf by:





Dr B Gill - Director


GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551)

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


1. STATUTORY INFORMATION

Gorge Fabrications 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: 01681551

Registered office: Gorge House
Great Bridge Industrial Estate
Tipton
West Midlands
DY4 0HR

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 recognised by the company in respect of goods supplied in the year. It is recognised to the extent that it is probable that economic benefits will flow to the company and the revenue can be reliably measured. Revenue 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 - Not depreciated
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Office equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

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

GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Income Statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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 the Income Statement in the period to which they relate.

Financial instruments
The company only enters into basic financial instruments transactions that result in recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and related parties.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2023 11,750 212,185 30,641
Additions - 15,125 8,800
Disposals - - -
At 31 July 2024 11,750 227,310 39,441
DEPRECIATION
At 1 August 2023 - 208,589 30,641
Charge for year - 4,407 489
Eliminated on disposal - - -
At 31 July 2024 - 212,996 31,130
NET BOOK VALUE
At 31 July 2024 11,750 14,314 8,311
At 31 July 2023 11,750 3,596 -

GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551)

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


4. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 August 2023 17,999 33,659 306,234
Additions 96,600 2,016 122,541
Disposals (9,999 ) - (9,999 )
At 31 July 2024 104,600 35,675 418,776
DEPRECIATION
At 1 August 2023 12,961 29,033 281,224
Charge for year 5,138 2,553 12,587
Eliminated on disposal (4,961 ) - (4,961 )
At 31 July 2024 13,138 31,586 288,850
NET BOOK VALUE
At 31 July 2024 91,462 4,089 129,926
At 31 July 2023 5,038 4,626 25,010

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2023
and 31 July 2024 200
NET BOOK VALUE
At 31 July 2024 200
At 31 July 2023 200

GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551)

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


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 921,301
Additions 6,096
Revaluations 92,603
At 31 July 2024 1,020,000
NET BOOK VALUE
At 31 July 2024 1,020,000
At 31 July 2023 921,301

The investment property and land was valued on an open market basis on the 31 July 2024 by the directors. The original cost was £905,929.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 130,422 140,778
Other debtors 157,016 166,995
287,438 307,773

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 203,178 229,223
Trade creditors 369,362 470,891
Taxation and social security 12,896 47,543
Other creditors 27,361 17,722
612,797 765,379

Included in bank loans and overdrafts is an overdraft secured by the way of a fixed and floating charge on the company's assets and Bank loans taken out under the Coronavirus Business Interruption Loan Scheme (CBILS).

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 264,083 447,083

Amounts included in Bank loans relate to loans taken out under the Coronavirus Business
Interruption Loan Scheme (CBILS).

GORGE FABRICATIONS LIMITED (REGISTERED NUMBER: 01681551)

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


10. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totalling £1,969 (2023: £2,188) were payable to the fund at the balance sheet date.