REGISTERED NUMBER: 03560927 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GOSPORT DRY LININGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S A Davis

REGISTERED OFFICE:

Unit D10

Heritage Business Park

Heritage Way

Gosport

Hampshire

PO12 4BG

REGISTERED NUMBER:

03560927 (England and Wales)

ACCOUNTANTS:

Gibson Whitter

Chartered Accountants

and Chartered Tax Advisers

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

FIXED ASSETS

Tangible assets

4

71,411

128,430

CURRENT ASSETS

Stocks

37,324

66,935

Debtors

5

1,502,451

1,774,346

Cash at bank

370,168

334,169

1,909,943

2,175,450

CREDITORS

Amounts falling due within one year

6

300,969

327,967

NET CURRENT ASSETS

1,608,974

1,847,483

TOTAL ASSETS LESS CURRENT LIABILITIES

1,680,385

1,975,913

CREDITORS

Amounts falling due after more than one year

7

(57,573

)

(213,949

)

PROVISIONS FOR LIABILITIES

9

(13,568

)

(24,401

)

NET ASSETS

1,609,244

1,737,563

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,609,242

1,737,561

SHAREHOLDERS' FUNDS

1,609,244

1,737,563

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 and authorised for issue by the director and authorised for issue on 10 September 2025 and were signed by:

Mr S A Davis - Director

1.	STATUTORY INFORMATION

Gosport Dry Linings 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.

Turnover

Turnover 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost and 15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is computed on a first in first out basis.

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.

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.

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

224,973

Additions

427

Disposals

(34,038

)

At 31 December 2024

191,362

DEPRECIATION

At 1 January 2024

96,543

Charge for year

39,354

Eliminated on disposal

(15,946

)

At 31 December 2024

119,951

NET BOOK VALUE

At 31 December 2024

71,411

At 31 December 2023

128,430

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

169,474

Disposals

(29,945

)

At 31 December 2024

139,529

DEPRECIATION

At 1 January 2024

48,005

Charge for year

37,006

Eliminated on disposal

(11,853

)

At 31 December 2024

73,158

NET BOOK VALUE

At 31 December 2024

66,371

At 31 December 2023

121,469

5.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

380,905

543,310

Amounts owed by group undertakings

890,960

890,960

Other debtors

73,746

174,444

1,345,611

1,608,714

Amounts falling due after more than one year:

Trade debtors

156,840

165,632

Aggregate amounts

1,502,451

1,774,346

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts (see note 8)

32,178

38,225

Trade creditors

228,277

105,038

Taxation and social security

10,493

53,928

Other creditors

30,021

130,776

300,969

327,967

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

28,334

132,880

Hire purchase contracts (see note 8)

29,239

81,069

57,573

213,949

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

32,178

38,225

Between one and five years

29,239

81,069

61,417

119,294

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

13,568

24,401

Deferred

tax

£

Balance at 1 January 2024

24,401

Provided during year

(10,833

)

Balance at 31 December 2024

13,568

10.	RELATED PARTY DISCLOSURES

The aggregate amount owed by group undertakings at the balance sheet date is £890,960 (31.12.23: £890,960).

The company has provided security for liabilities in a group company.

The amount owed by the director at the balance sheet date is £137 (31.12.23

£2,844).

11.	ULTIMATE CONTROLLING PARTY

The parent company is GDL Holdings Limited a company registered in England and Wales. The ultimate controlling party is Mr S A Davies.