Registration number: 07220414

Guiseley Engineering Company Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Guiseley Engineering Company Limited

Company Information

Directors

Mr Daniel Gadsby Edward George Caffrey

Registered office

Hallam Street Guiseley Leeds West Yorkshire LS20 8AG

Accountants

Fullertons Limited Chartered Certified AccountantsManchester House 50A Oxford Road Guiseley Leeds LS20 8AB

Guiseley Engineering Company Limited

(Registration number: 07220414)
Balance Sheet as at 31 May 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	1	1
Tangible assets	5	83,036	107,965
		83,037	107,966
Current assets
Stocks	6	80,248	138,332
Debtors	7	243,733	182,981
Cash at bank and in hand		28,943	82,166
		352,924	403,479
Creditors: Amounts falling due within one year	8	(306,245)	(375,984)
Net current assets		46,679	27,495
Total assets less current liabilities		129,716	135,461
Creditors: Amounts falling due after more than one year	8	(50,319)	(62,424)
Provisions for liabilities		(20,759)	(26,991)
Net assets		58,638	46,046
Capital and reserves
Called up share capital	9	100	100
Retained earnings		58,538	45,946
Shareholders' funds		58,638	46,046

For the financial year ending 31 May 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 October 2025 and signed on its behalf by:
 

Guiseley Engineering Company Limited

(Registration number: 07220414)
Balance Sheet as at 31 May 2025

......................................... Mr Daniel Gadsby Director

Guiseley Engineering Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Hallam Street
Guiseley
Leeds
West Yorkshire
LS20 8AG

These financial statements were authorised for issue by the Board on 15 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Guiseley Engineering Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance basis
Fixtures and fittings	20% reducing balance basis
Office equipment	33% straight line basis
Motor vehicles	25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Guiseley Engineering Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Guiseley Engineering Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2024 - 9).

Guiseley Engineering Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 June 2024	1	1
At 31 May 2025	1	1
Amortisation
Carrying amount
At 31 May 2025	1	1
At 31 May 2024	1	1

5	Tangible assets

	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 June 2024	23,548	443,367	466,915
Additions	-	8,264	8,264
Disposals	(23,548)	-	(23,548)
At 31 May 2025	-	451,631	451,631
Depreciation
At 1 June 2024	5,887	353,063	358,950
Charge for the year	(5,887)	15,532	9,645
At 31 May 2025	-	368,595	368,595
Carrying amount
At 31 May 2025	-	83,036	83,036
At 31 May 2024	17,661	90,304	107,965

6

Stocks

	2025 £	2024 £
Other inventories	80,248	138,332

Guiseley Engineering Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

7

Debtors

Current	Note	2025 £	2024 £
Trade debtors		163,327	150,281
Amounts owed by related parties		32,500	32,500
Other debtors		47,906	200
		243,733	182,981

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		15,420	29,605
Trade creditors		29,640	63,562
Taxation and social security		38,990	58,855
Accruals and deferred income		21,037	19,341
Other creditors		201,158	204,621
		306,245	375,984

Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £15,420 (2024 - £26,640). Other creditors includes amounts secured of £56,331 (202 - £79,232)

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		50,319	62,424

Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £50,319 (2024 - £62,424).

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Guiseley Engineering Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

10	Parent and ultimate parent undertaking

The company's immediate parent is Guiseley Engineering Holdings Limited, incorporated in England.