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REGISTERED NUMBER: 01014770











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GARLOCK (GREAT BRITAIN) LIMITED

GARLOCK (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 01014770)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GARLOCK (GREAT BRITAIN) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: R G Colton
C Drake
R S Mclean





SECRETARY: R S Mclean





REGISTERED OFFICE: 11th Floor
Two Snow Hill
Birmingham
B4 6WR





REGISTERED NUMBER: 01014770





AUDITORS: Cooper Parry Group Limited
Statutory Auditor
First Floor, Davidson House
Forbury Square
Reading
Berkshire
RG1 3EU

GARLOCK (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 01014770)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £
CURRENT ASSETS
Debtors 4 85,119 99,953
Cash at bank 503,217 432,332
588,336 532,285
CREDITORS
Amounts falling due within one year 5 121,779 78,002
NET CURRENT ASSETS 466,557 454,283
TOTAL ASSETS LESS CURRENT
LIABILITIES

466,557

454,283

CAPITAL AND RESERVES
Called up share capital 2,515,000 2,515,000
Retained earnings (2,048,443 ) (2,060,717 )
SHAREHOLDERS' FUNDS 466,557 454,283

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 and authorised for issue by the Board of Directors and authorised for issue on 10 July 2025 and were signed on its behalf by:





C Drake - Director


GARLOCK (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 01014770)

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


1. GENERAL INFORMATION

Garlock (Great Britain) Limited is a private company limited by shares, incorporated in England. The company's registered number and registered office can be found on the company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

Going concern
The company recommenced trading on 1 December 2021 with a new trade, the provision of staff to other group entities. The Directors are of the opinion that the company has sufficient resources to continue trading for the foreseeable future and therefore have prepared the accounts on a going concern basis.

Revenue
Revenue represents rechargeable costs excluding VAT in respect of the provision of staff.

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.

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.

GARLOCK (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 01014770)

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


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured at amortised cost using the effective interest method.

Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Profit and loss account in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Financial instruments
The Company only enters into basic financial instrument transactions 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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, 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, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, 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 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.

GARLOCK (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 01014770)

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


2. ACCOUNTING POLICIES - continued

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 Profit and Loss Account 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.


3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed by group undertakings 75,084 61,023
Other debtors 10,035 38,930
85,119 99,953

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors - 840
Amounts owed to group undertakings 36,168 36,065
Taxation and social security 16,140 24,281
Other creditors 69,471 16,816
121,779 78,002

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jacqueline Biggs FCCA ACA (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

7. PENSION COMMITMENTS

The company operates a defined contribution 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 £31,462 (2023: £36,211). Contributions totalling £4,012 (2023: £8,816) were payable to the fund at the balance sheet date and are included in creditors.

GARLOCK (GREAT BRITAIN) LIMITED (REGISTERED NUMBER: 01014770)

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


8. RELATED PARTY DISCLOSURES

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 wholly owned subsidiaries within the group.