Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30true2023-10-01falsewholesale of machinery98trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03060044 2023-10-01 2024-09-30 03060044 2022-10-01 2023-09-30 03060044 2024-09-30 03060044 2023-09-30 03060044 2022-10-01 03060044 c:Director2 2023-10-01 2024-09-30 03060044 d:Buildings 2023-10-01 2024-09-30 03060044 d:Buildings 2024-09-30 03060044 d:Buildings 2023-09-30 03060044 d:Buildings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03060044 d:PlantMachinery 2023-10-01 2024-09-30 03060044 d:PlantMachinery 2024-09-30 03060044 d:PlantMachinery 2023-09-30 03060044 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03060044 d:MotorVehicles 2023-10-01 2024-09-30 03060044 d:MotorVehicles 2024-09-30 03060044 d:MotorVehicles 2023-09-30 03060044 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03060044 d:FurnitureFittings 2023-10-01 2024-09-30 03060044 d:FurnitureFittings 2024-09-30 03060044 d:FurnitureFittings 2023-09-30 03060044 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03060044 d:OfficeEquipment 2023-10-01 2024-09-30 03060044 d:OfficeEquipment 2024-09-30 03060044 d:OfficeEquipment 2023-09-30 03060044 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03060044 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03060044 d:CurrentFinancialInstruments 2024-09-30 03060044 d:CurrentFinancialInstruments 2023-09-30 03060044 d:Non-currentFinancialInstruments 2024-09-30 03060044 d:Non-currentFinancialInstruments 2023-09-30 03060044 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 03060044 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 03060044 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 03060044 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 03060044 d:ShareCapital 2024-09-30 03060044 d:ShareCapital 2023-09-30 03060044 d:RetainedEarningsAccumulatedLosses 2024-09-30 03060044 d:RetainedEarningsAccumulatedLosses 2023-09-30 03060044 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 03060044 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 03060044 d:TaxLossesCarry-forwardsDeferredTax 2024-09-30 03060044 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 03060044 d:RetirementBenefitObligationsDeferredTax 2024-09-30 03060044 d:RetirementBenefitObligationsDeferredTax 2023-09-30 03060044 c:FRS102 2023-10-01 2024-09-30 03060044 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 03060044 c:FullAccounts 2023-10-01 2024-09-30 03060044 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03060044 d:HirePurchaseContracts d:WithinOneYear 2024-09-30 03060044 d:HirePurchaseContracts d:WithinOneYear 2023-09-30 03060044 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-09-30 03060044 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-09-30 03060044 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-09-30 03060044 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-09-30 03060044 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-09-30 03060044 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-30 03060044 d:LeasedAssetsHeldAsLessee 2024-09-30 03060044 d:LeasedAssetsHeldAsLessee 2023-09-30 03060044 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 03060044










G.D MACHINERY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
G.D MACHINERY LIMITED
REGISTERED NUMBER: 03060044

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
860,476
55,709

Current assets
  

Stocks
  
882,766
791,435

Debtors: amounts falling due within one year
 5 
402,546
345,309

Cash at bank and in hand
  
159,246
549,651

  
1,444,558
1,686,395

Creditors: amounts falling due within one year
 6 
(824,286)
(610,459)

Net current assets
  
 
 
620,272
 
 
1,075,936

Total assets less current liabilities
  
1,480,748
1,131,645

Creditors: amounts falling due after more than one year
  
(486,940)
(160,000)

Provisions for liabilities
  

Deferred tax
 9 
(58,007)
(861)

Net assets
  
935,801
970,784


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
935,701
970,684

  
935,801
970,784


Page 1

 
G.D MACHINERY LIMITED
REGISTERED NUMBER: 03060044
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 July 2025.





D C Gribben
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
G.D MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

G.D. Machinery Limited is a private company limited by shares, incorporated in England and Wales (registered number: 03060044). Its registered office is GD Machinery Limited, Highgrounds Road, Rhodesia, Worksop, S80 3AT. The principal activity throughout the year continued to be that of wholesale of machine tools. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
G.D MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. 

Page 4

 
G.D MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Freehold property
-
10%
Straight line
Plant and machinery
-
25%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Fixtures and fittings
-
20%
Reducing balance
Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings. 

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
G.D MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade receivables and payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
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.



3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 8).

Page 6

 
G.D MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 October 2023
59,270
14,268
-
-
16,904
90,442


Additions
583,370
253,160
18,042
1,612
420
856,604


Disposals
-
(5,750)
-
-
-
(5,750)



At 30 September 2024

642,640
261,678
18,042
1,612
17,324
941,296



Depreciation


At 1 October 2023
10,441
14,044
-
-
10,248
34,733


Charge for the year on owned assets
7,006
34,970
2,255
157
1,699
46,087



At 30 September 2024

17,447
49,014
2,255
157
11,947
80,820



Net book value



At 30 September 2024
625,193
212,664
15,787
1,455
5,377
860,476



At 30 September 2023
48,829
224
-
-
6,656
55,709

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
81,521
-

Motor vehicles
15,786
-

97,307
-

Page 7

 
G.D MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Debtors

As restated
2024
2023
£
£


Trade debtors
56,762
313,373

Other debtors
98,268
6,471

Prepayments and accrued income
247,516
25,465

402,546
345,309



6.


Creditors: Amounts falling due within one year

As restated
2024
2023
£
£

Bank loans
86,213
80,000

Trade creditors
561,649
329,572

Amounts owed to other participating interests
83,418
-

Corporation tax
-
43,221

Other taxation and social security
5,935
949

Hire purchase contracts
24,214
-

Other creditors
58,757
30,599

Accruals and deferred income
4,100
126,118

824,286
610,459


Included in creditors falling due within one year are liabilities secured against charges, see below. 

Page 8

 
G.D MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
412,201
160,000

Hire purchase contracts
74,739
-

486,940
160,000


The following liabilities were secured:

2024
2023
£
£



Bank loans
498,414
240,000

Details of security provided:

The company has fixed and floating charges against all the assets of the company relating to the loans above. 


8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
24,214
-

Between 1-5 years
74,389
-

98,603
-

Page 9

 
G.D MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
861
1,376


Charged to profit or loss
57,146
(515)



At end of year
58,007
861

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
173,816
861

Tax losses carried forward
(115,718)
-

Pension surplus
(91)
-

58,007
861


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. The pension cost charge represents contributions payable by the Company to the fund and amounted to £79,601 (2023: £29,788). Contributions totalling £363 (2023: £110) were payable to the fund at the balance sheet date and are included in creditors. 

 
Page 10