Guy Machinery Limited 27/12/2024 iXBRL

Company registration number: 5548235

Guy Machinery Limited

Trading as Guy Machinery Limited

Unaudited filleted financial statements

27 December 2024

Guy Machinery Limited

Contents

Statement of financial position

Notes to the financial statements

Guy Machinery Limited

Statement of financial position

27 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		-
Tangible assets	6	138,291		47,682
		_______		_______
			138,291		47,682

Current assets
Stocks		2,309,300		3,011,330
Debtors	7	221,359		162,638
Cash at bank and in hand		20,917		28,088
		_______		_______
		2,551,576		3,202,056
Creditors: amounts falling due
within one year	8	( 1,456,853)		( 2,028,342)
		_______		_______
Net current assets			1,094,723		1,173,714
			_______		_______
Total assets less current liabilities			1,233,014		1,221,396

Creditors: amounts falling due
after more than one year	9		( 274,719)		( 312,944)

Provisions for liabilities			( 34,572)		( 11,920)

			_______		_______
Net assets			923,723		896,532
			_______		_______

Capital and reserves
Called up share capital			50,000		50,000
Profit and loss account			873,723		846,532
			_______		_______
Shareholders funds			923,723		896,532
			_______		_______

For the year ending 27 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 22 September 2025 , and are signed on behalf of the board by:

Mr Graham Anthony Guy

Director

Company registration number: 5548235

Guy Machinery Limited

Notes to the financial statements

Year ended 27 December 2024

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Four Columns, Broughton Hall Business Park, Skipton, BD23 3AE.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the entity; the stage of completion of the transaction at the end of the reporting period can be measured reliably and the costs incurred and costs to complete the transaction can be measured reliably.

Taxation

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	reducing balance
Plant and machinery	-	25 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at 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 Statement of Income and Retained Earnings.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 15 (2023: 14 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 28 December 2023 and 27 December 2024	5,250	5,250
	_______	_______
Amortisation
At 28 December 2023 and 27 December 2024	5,250	5,250
	_______	_______
Carrying amount
At 27 December 2024	-	-
	_______	_______
At 27 December 2023	-	-
	_______	_______

6. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 28 December 2023	180,388	9,375	189,763
Additions	110,018	-	110,018
	_______	_______	_______
At 27 December 2024	290,406	9,375	299,781
	_______	_______	_______
Depreciation
At 28 December 2023	136,496	5,585	142,081
Charge for the year	18,461	948	19,409
	_______	_______	_______
At 27 December 2024	154,957	6,533	161,490
	_______	_______	_______
Carrying amount
At 27 December 2024	135,449	2,842	138,291
	_______	_______	_______
At 27 December 2023	43,892	3,790	47,682
	_______	_______	_______

7. Debtors

	2024	2023
	£	£
Trade debtors	176,266	113,823
Other debtors	45,093	48,815
	_______	_______
	221,359	162,638
	_______	_______

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	90,238	200,373
Trade creditors	603,362	599,871
Corporation tax	66,474	184,980
Social security and other taxes	75,038	96,451
Other creditors	621,741	946,667
	_______	_______
	1,456,853	2,028,342
	_______	_______

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	274,719	312,944
	_______	_______