REGISTERED NUMBER: 03020408 (England and Wales)

GUARDRAIL ENGINEERING LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J Nielsen

Mr P Webster

SECRETARY:

Mr P G Clarke

REGISTERED OFFICE:

Unit 4E

Station Road

Four Ashes

Wolverhampton

West Midlands

WV10 7DB

REGISTERED NUMBER:

03020408 (England and Wales)

AUDITORS:

Wallace Crooke

Chartered Accountants

& Registered Auditors

Wallace House

20 Birmingham Road

Walsall

West Midlands

WS1 2LT

FIXED ASSETS

Tangible assets

4

-

148,259

CURRENT ASSETS

Stocks

-

262,321

Debtors

5

1,322,735

1,066,726

Cash at bank and in hand

431,299

452,082

1,754,034

1,781,129

CREDITORS

Amounts falling due within one year

6

949,389

749,204

NET CURRENT ASSETS

804,645

1,031,925

TOTAL ASSETS LESS CURRENT LIABILITIES

804,645

1,180,184

CREDITORS

Amounts falling due after more than one year

7

-

(30,689

)

PROVISIONS FOR LIABILITIES

9

-

(37,064

)

NET ASSETS

804,645

1,112,431

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

804,545

1,112,331

SHAREHOLDER FUNDS

804,645

1,112,431

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:

Mr P Webster - Director

1.	STATUTORY INFORMATION

Guardrail 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements have been prepared on a basis other than going concern on the grounds that the directors have taken the decision to transfer the company's trading activities to another company.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Related party exemption

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when all the following conditions are satisfied:

-

the company has transferred to the buyer the significant risks and rewards of ownership of the goods;

-

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 economic benefits associated with the transaction will flow to the entity; and

-

the costs incurred or to be incurred in respect of the transaction can be measure reliably.

Revenue is recognised on despatch, which marks the point when the risks and rewards of ownership are transferred.

Depreciation

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

in accordance with the property

Plant and machinery

-

20% on cost and 15% on reducing balance

Fixtures and fittings

-

20% on cost and 10% on reducing balance

Equipment

-

25% on reducing balance and 20% on cost

Stocks

Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost has been determined by using the First In First Out method and is based on purchase price.

Work in progress is valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost has been determined by using the First In First Out method and is based on purchase price plus attributable overheads based on normal level of activity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 24 (2024 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

43,317

821,392

60,466

43,155

968,330

Additions

-

209,000

-

-

209,000

Disposals

(43,317

)

(1,030,392

)

(60,466

)

(43,155

)

(1,177,330

)

At 31 March 2025

-

-

-

-

-

DEPRECIATION

At 1 April 2024

42,431

681,325

60,378

35,937

820,071

Charge for year

886

56,152

4,663

4,339

66,040

Eliminated on disposal

(43,317

)

(737,477

)

(65,041

)

(40,276

)

(886,111

)

At 31 March 2025

-

-

-

-

-

NET BOOK VALUE

At 31 March 2025

-

-

-

-

-

At 31 March 2024

886

140,067

88

7,218

148,259

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

Plant and

machinery

£

COST

At 1 April 2024

145,500

Disposals

(145,500

)

At 31 March 2025

-

DEPRECIATION

At 1 April 2024

41,986

Eliminated on disposal

(41,986

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

103,514

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

692,932

913,986

Amounts owed by group undertakings

613,511

62,080

Other debtors

-

62,700

Tax

13,454

-

VAT

2,838

-

Prepayments and accrued income

-

27,960

1,322,735

1,066,726

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 8)

-

30,569

Trade creditors

336,753

278,482

Amounts owed to group undertakings

600,000

200,000

Tax

-

109,407

VAT

-

79,933

Other creditors

3,636

6,144

Accruals and deferred income

9,000

44,669

949,389

749,204

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 8)

-

30,689

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2025

2024

£

£

Net obligations repayable:

Within one year

-

30,569

Between one and five years

-

30,689

-

61,258

Non-cancellable

operating leases

2025

2024

£

£

Within one year

9,154

70,000

Between one and five years

15,607

75,833

24,761

145,833

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

-

37,064

Deferred

tax

£

Balance at 1 April 2024

37,064

Credit to Statement of Income and Retained Earnings during year

(37,064

)

Balance at 31 March 2025

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

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

The Report of the Auditors was unqualified.

Martin Jones FCA (Senior Statutory Auditor)

for and on behalf of Wallace Crooke

12.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme for all qualifying employees. 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 amounted to £53,935 (2024 - £34,232). Contributions totalling £3,471 (2024 - £6,144) were payable to the fund at the balance sheet date and are included within other creditors.

13.	CONTINGENT LIABILITIES

On 8th February 2025, the company vacated its old premises which was under lease. Subsequently, it received a schedule of dilapidation from its landlord on 11th February 2025 for an amount of £416,032. The company engaged a solicitor to handle this issue. It was noted by the solicitor that it is not possible to make a meaningful assessment of the potential liability at present because any such liability will be dependent upon numerous factors, some of which are not currently known. Therefore, a provision has not been made in the accounts for any potential obligation arising out of this issue as it cannot be measured reliably at present.

14.	CAPITAL COMMITMENTS

2025

2024

£

£

Contracted but not provided for in the

financial statements

-

144,300

15.	RELATED PARTY DISCLOSURES

During the period the company provided management charges of £75,711 (2024: £69,203) to the group company and payroll charges are owed by PCP Gratings of £22,304 (2024: £26,540).

16.	ULTIMATE CONTROLLING PARTY

The company is controlled by PcP Corporation A/S, a company incorporated in Denmark. The company is under the ultimate control of Lagercrantz Group AB (a company incorporated in Sweden and listed on the Swedish stock exchange) which is the company's ultimate holding company.

The parent company of the largest and the smallest group in which the company is a member and consolidated financial statements are prepared is PcP Corporation A/S. Consolidated financial statements can be obtained from the registered office, being Sverigesvej, 7480 Vildbjerg, Denmark