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Company No: 01447410 (England and Wales)

GERRYMET LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

GERRYMET LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

GERRYMET LIMITED

BALANCE SHEET

As at 31 March 2025
GERRYMET LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 31.03.2025 31.03.2024
£ £
Fixed assets
Tangible assets 3 0 25,856
0 25,856
Current assets
Stocks 0 35,997
Debtors 4 300 251,757
Cash at bank and in hand 0 282,499
300 570,253
Creditors: amounts falling due within one year 5 0 ( 209,601)
Net current assets 300 360,652
Total assets less current liabilities 300 386,508
Creditors: amounts falling due after more than one year 6 0 ( 2,970)
Net assets 300 383,538
Capital and reserves
Called-up share capital 300 300
Profit and loss account 0 383,238
Total shareholder's funds 300 383,538

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Gerrymet Limited (registered number: 01447410) were approved and authorised for issue by the Board of Directors on 11 April 2025. They were signed on its behalf by:

N E Palmer
Director
GERRYMET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
GERRYMET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Gerrymet Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 2 Sandys Moor, Wiveliscombe, Taunton, TA4 2TU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

On 31 December 2024, the company ceased operational activities and transferred its trade, assets, and liabilities to its parent company, EPS Services & Tooling Limited. The accounts are therefore prepared on the basis that the company is no longer a going concern.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings depreciated over the life of the lease
Plant and machinery 6.67 years straight line
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Year ended
31.03.2025
Period from
01.05.2023 to
31.03.2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 12

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 April 2024 40,155 390,498 15,600 446,253
Additions 0 87,413 0 87,413
Disposals ( 40,155) ( 477,911) ( 15,600) ( 533,666)
At 31 March 2025 0 0 0 0
Accumulated depreciation
At 01 April 2024 40,155 375,443 4,799 420,397
Charge for the financial year 0 6,624 1,609 8,233
Disposals ( 40,155) ( 382,067) ( 6,408) ( 428,630)
At 31 March 2025 0 0 0 0
Net book value
At 31 March 2025 0 0 0 0
At 31 March 2024 0 15,055 10,801 25,856

4. Debtors

31.03.2025 31.03.2024
£ £
Trade debtors 0 177,024
Amounts owed by Group undertakings 300 50,000
Other debtors 0 24,733
300 251,757

5. Creditors: amounts falling due within one year

31.03.2025 31.03.2024
£ £
Trade creditors 0 100,297
Other taxation and social security 0 26,738
Obligations under finance leases and hire purchase contracts (secured) 0 3,966
Other creditors 0 78,600
0 209,601

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

6. Creditors: amounts falling due after more than one year

31.03.2025 31.03.2024
£ £
Obligations under finance leases and hire purchase contracts (secured) 0 2,970

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

7. Financial commitments

Other financial commitments

The total amount of financial commitments not included in the balance sheet is £nil (2024 - £87,075).

8. Related party transactions

Other related party transactions

On 31 December 2024 the trade, assets and liabilities of Gerrymet Limited were transferred to its parent company EPS Services and Tooling Limited. The assets acquired amounted to £545,013 and the liabilities £131,689. On this date the company also paid a dividend of £413,324 to EPS Services and Tooling Limited.