REGISTERED NUMBER: 00414969 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

G.& S. VALVES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTORS:

A Grenside

R E Grenside

SECRETARY:

A Grenside

REGISTERED OFFICE:

Alder Works

Catteshall Lane

Godalming

Surrey

GU7 1JS

REGISTERED NUMBER:

00414969 (England and Wales)

ACCOUNTANTS:

Wettone Matthews Limited

Chartered Certified Accountants

Market House

21 Lenten Street

Alton

GU34 1HG

FIXED ASSETS

Intangible assets

4

43,069

43,069

Tangible assets

5

317,186

293,090

360,255

336,159

CURRENT ASSETS

Stocks

6

774,225

728,473

Debtors

7

129,350

134,145

Cash at bank

46,531

92,766

950,106

955,384

CREDITORS

Amounts falling due within one year

8

237,332

253,492

NET CURRENT ASSETS

712,774

701,892

TOTAL ASSETS LESS CURRENT LIABILITIES

1,073,029

1,038,051

CREDITORS

Amounts falling due after more than one year

9

(506,445

)

(506,638

)

PROVISIONS FOR LIABILITIES

(78,246

)

(71,991

)

NET ASSETS

488,338

459,422

CAPITAL AND RESERVES

Called up share capital

11

19,200

19,200

Share premium

13,332

13,332

Retained earnings

455,806

426,890

SHAREHOLDERS' FUNDS

488,338

459,422

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 19 September 2025 and were signed on its behalf by:

A Grenside - Director

1.	STATUTORY INFORMATION

G.& S. Valves 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.

Intangible assets

Intangible assets are initially measure at cost. Software development assets are not currently being amortised on the basis that the director believes that these retain their value to the company and therefore continue to be recognised at historical cost. This is a departure from the requirements of Financial Reporting Standard 102 Section 1A section 18.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance, 12.5% on reducing balance and 10% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

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. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £NIL (2023 - £Nil) were due to the fund.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Software

development

£

COST

At 1 January 2024

and 31 December 2024

43,069

NET BOOK VALUE

At 31 December 2024

43,069

At 31 December 2023

43,069

The Software development costs have not been amortised on the basis that the director believes that these retain their value to the company and therefore continue to be recognised at historical cost. This is a departure from the requirements of Financial Reporting Standard 102 Section 1A section 18.

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

2,106,114

153,190

138,229

2,397,533

Additions

25,000

10,163

42,690

77,853

At 31 December 2024

2,131,114

163,353

180,919

2,475,386

DEPRECIATION

At 1 January 2024

1,865,926

124,399

114,118

2,104,443

Charge for year

33,156

3,901

16,700

53,757

At 31 December 2024

1,899,082

128,300

130,818

2,158,200

NET BOOK VALUE

At 31 December 2024

232,032

35,053

50,101

317,186

At 31 December 2023

240,188

28,791

24,111

293,090

6.

STOCKS

2024

2023

£

£

Raw materials

142,086

176,788

Work-in-progress

131,918

66,770

Finished goods

500,221

484,915

774,225

728,473

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

104,579

104,672

Other debtors

24,771

29,473

129,350

134,145

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

68,124

43,829

Taxation and social security

40,125

55,658

Other creditors

129,083

154,005

237,332

253,492

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

506,445

506,638

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

27,696

23,941

Between one and five years

115,600

115,600

In more than five years

122,825

153,605

266,121

293,146

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

19,200

Ordinary

£1

19,200

19,200

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G.& S. Valves Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of G.& S. Valves Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G.& S. Valves Limited and state those matters that we have agreed to state to the Board of Directors of G.& S. Valves Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that G.& S. Valves Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G.& S. Valves Limited. You consider that G.& S. Valves Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G.& S. Valves Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wettone Matthews Limited

Chartered Certified Accountants

Market House

21 Lenten Street

Alton

GU34 1HG

19 September 2025