REGISTERED NUMBER: 00763353 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Glebe Engineering Limited.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N S Cresswell

T S Cresswell

SECRETARY:

N S Cresswell

REGISTERED OFFICE:

Silvers Works

Brick Kiln Lane

Basford

Stoke-on-Trent

Staffordshire

ST4 7BT

REGISTERED NUMBER:

00763353 (England and Wales)

ACCOUNTANTS:

Paterson Brodie Limited

Chartered Certified Accountants

Cliveden Chambers

Cliveden Place

Longton

Stoke-on-Trent

Staffordshire

ST3 4JB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,013,202

967,230

1,013,202

967,230

CURRENT ASSETS

Stocks

6

303,000

296,000

Debtors

7

351,903

238,658

Cash at bank and in hand

249,443

121,841

904,346

656,499

CREDITORS

Amounts falling due within one year

8

433,747

329,877

NET CURRENT ASSETS

470,599

326,622

TOTAL ASSETS LESS CURRENT LIABILITIES

1,483,801

1,293,852

CREDITORS

Amounts falling due after more than one year

9

(57,709

)

(22,116

)

PROVISIONS FOR LIABILITIES

12

(124,526

)

(109,504

)

NET ASSETS

1,301,566

1,162,232

CAPITAL AND RESERVES

Called up share capital

13

4,000

4,000

Retained earnings

14

1,297,566

1,158,232

SHAREHOLDERS' FUNDS

1,301,566

1,162,232

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 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 9 September 2025 and were signed on its behalf by:

N S Cresswell - Director

T S Cresswell - Director

1.	STATUTORY INFORMATION

Glebe Engineering 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.

Goodwill

Historical goodwill has been written off over the 3 year period from 2013 to 2015.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

1,500

AMORTISATION

At 1 January 2024

and 31 December 2024

1,500

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

736,671

1,334,157

26,183

3,894

2,100,905

Additions

-

135,192

1,212

-

136,404

Disposals

-

(43,187

)

-

-

(43,187

)

At 31 December 2024

736,671

1,426,162

27,395

3,894

2,194,122

DEPRECIATION

At 1 January 2024

134,823

979,821

16,144

2,887

1,133,675

Charge for year

14,733

73,371

1,688

252

90,044

Eliminated on disposal

-

(42,799

)

-

-

(42,799

)

At 31 December 2024

149,556

1,010,393

17,832

3,139

1,180,920

NET BOOK VALUE

At 31 December 2024

587,115

415,769

9,563

755

1,013,202

At 31 December 2023

601,848

354,336

10,039

1,007

967,230

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

Plant and

machinery

£

COST

Additions

76,700

At 31 December 2024

76,700

DEPRECIATION

Charge for year

11,505

At 31 December 2024

11,505

NET BOOK VALUE

At 31 December 2024

65,195

6.

STOCKS

31.12.24

31.12.23

£

£

Finished goods & work in progress

303,000

296,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

167,503

217,494

Other debtors

50

2,806

Amounts due from parent company

70,111

714

Invoice financing account

105,561

6,059

Loan a/c - Glebe Transmissions Ltd.

-

1,392

Prepayments

8,678

10,193

351,903

238,658

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,000

40,488

Pension scheme loan

5,800

8,304

Hire purchase contracts (see note 10)

14,000

-

Trade creditors

117,851

84,259

Tax

55,742

4,062

Social security and other taxes

63,775

61,444

Other creditors

16,532

15,772

Loan from Costdane Limited

88,924

88,924

Amounts due to parent company

29,318

14,132

Accrued expenses

31,805

12,492

433,747

329,877

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

5,833

15,833

Pension scheme loan

483

6,283

Hire purchase contracts (see note 10)

51,393

-

57,709

22,116

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

14,000

-

Between one and five years

51,393

-

65,393

-

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

6,283

6,623

Between one and five years

19,897

25,133

In more than five years

-

1,047

26,180

32,803

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

15,833

56,321

Pension scheme loan

6,283

14,587

Hire purchase contracts

65,393

-

87,509

70,908

12.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

Accelerated capital allowances

124,526

109,504

Deferred

tax

£

Balance at 1 January 2024

109,504

Charge to Income Statement during year

15,022

Balance at 31 December 2024

124,526

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

4,000

Ordinary

£1

4,000

4,000

14.

RESERVES

Retained

earnings

£

At 1 January 2024

1,158,232

Profit for the year

199,334

Dividends

(60,000

)

At 31 December 2024

1,297,566

15.	RELATED PARTY DISCLOSURES

During the year the company sold goods and services totalling £79,833 (2023: £38,878) and purchased goods and services totalling £23,997 (2023: £23,668) from related companies. All transactions were on a normal commercial basis.