REGISTERED NUMBER: 01025271 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

G.M.E. MOTOR ENGINEERS (COVENTRY)

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Gerrard

M Gerrard

REGISTERED OFFICE:

Boston Place

Foleshill

Coventry

West Midlands

CV6 5NN

REGISTERED NUMBER:

01025271 (England and Wales)

ACCOUNTANTS:

LDP Luckmans

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Tangible assets

4

674,362

503,209

CURRENT ASSETS

Stocks

2,100,157

2,545,896

Debtors

5

227,945

748,022

Cash at bank and in hand

2,365,932

130,791

4,694,034

3,424,709

CREDITORS

Amounts falling due within one year

6

4,685,162

3,395,098

NET CURRENT ASSETS

8,872

29,611

TOTAL ASSETS LESS CURRENT LIABILITIES

683,234

532,820

PROVISIONS FOR LIABILITIES

52,469

66,224

NET ASSETS

630,765

466,596

CAPITAL AND RESERVES

Called up share capital

7

53,000

53,000

Share premium

14,240

14,240

Retained earnings

563,525

399,356

SHAREHOLDERS' FUNDS

630,765

466,596

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 30 September 2025 and were signed on its behalf by:

R Gerrard - Director

M Gerrard - Director

1.	STATUTORY INFORMATION

G.M.E. Motor Engineers (Coventry) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Short leasehold

-

2% on cost

Plant and machinery

-

5% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

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.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

93,634

627,440

234,582

429,629

1,385,285

Additions

-

75,948

26,876

166,233

269,057

Disposals

-

(17,529

)

-

(68,599

)

(86,128

)

At 31 December 2024

93,634

685,859

261,458

527,263

1,568,214

DEPRECIATION

At 1 January 2024

24,347

446,378

189,613

221,738

882,076

Charge for year

1,873

13,294

23,895

45,802

84,864

Eliminated on disposal

-

(5,915

)

-

(67,173

)

(73,088

)

At 31 December 2024

26,220

453,757

213,508

200,367

893,852

NET BOOK VALUE

At 31 December 2024

67,414

232,102

47,950

326,896

674,362

At 31 December 2023

69,287

181,062

44,969

207,891

503,209

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

127,120

115,982

Other debtors

100,825

632,040

227,945

748,022

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

208,367

4,344

Amounts owed to group undertakings

546,091

177,411

Taxation and social security

14,159

65,999

Other creditors

3,916,545

3,147,344

4,685,162

3,395,098

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

50,000

Ordinary 'A'

£1

50,000

50,000

3,000

Ordinary 'B'

£1

3,000

3,000

53,000

53,000