The Garment Rail Company Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07714606

The Garment Rail Company Ltd

Filleted Unaudited Financial Statements

30 July 2025

The Garment Rail Company Ltd

Statement of Financial Position

30 July 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	–	394
Tangible assets	6	59,578	46,529
		--------	--------
		59,578	46,923

Current assets

Debtors	7	20,291	17,158
Cash at bank and in hand		62,882	87,927
		--------	---------
		83,173	105,085

Creditors: amounts falling due within one year	8	25,457	24,336
		--------	---------
Net current assets		57,716	80,749
		---------	---------
Total assets less current liabilities		117,294	127,672

Creditors: amounts falling due after more than one year	9	7,332	14,491

Provisions	11,124	8,677
	---------	---------
Net assets	98,838	104,504
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	98,738	104,404
	--------	---------
Shareholders funds	98,838	104,504
	--------	---------

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.

For the year ending 30 July 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 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 .

The Garment Rail Company Ltd

Statement of Financial Position (continued)

30 July 2025

These financial statements were approved by the board of directors and authorised for issue on 11 December 2025 , and are signed on behalf of the board by:

T S Hornsby	N J Young
Director	Director

Company registration number: 07714606

The Garment Rail Company Ltd

Notes to the Financial Statements

Year ended 30 July 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 99 Kenton Road, Harrow, England, HA3 0AN.

2. Statement of compliance

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

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

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:

	Patents, trademarks and licences	-	over 5 years

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 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.

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:

Rail and Equipment	-	Over 3 years
Motor vehicles	-	33% reducing balance
Equipment	-	50% straight line

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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 as a finance cost 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 3 (2024: 3 ).

5. Intangible assets

	Patents, trademarks and licences
	£
Cost
At 31 July 2024 and 30 July 2025	18,674
	--------
Amortisation
At 31 July 2024	18,280
Charge for the year	394
	--------
At 30 July 2025	18,674
	--------
Carrying amount
At 30 July 2025	–
	--------
At 30 July 2024	394
	--------

6. Tangible assets

	Rail and equipment	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 31 July 2024	335,194	65,662	2,160	403,016
Additions	22,431	32,595	6,457	61,483
Disposals	–	( 15,917)	–	( 15,917)
	---------	--------	-------	---------
At 30 July 2025	357,625	82,340	8,617	448,582
	---------	--------	-------	---------
Depreciation
At 31 July 2024	306,537	48,165	1,785	356,487
Charge for the year	27,892	16,329	3,604	47,825
Disposals	–	( 15,308)	–	( 15,308)
	---------	--------	-------	---------
At 30 July 2025	334,429	49,186	5,389	389,004
	---------	--------	-------	---------
Carrying amount
At 30 July 2025	23,196	33,154	3,228	59,578
	---------	--------	-------	---------
At 30 July 2024	28,657	17,497	375	46,529
	---------	--------	-------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	16,729	13,636
Other debtors	3,562	3,522
	--------	--------
	20,291	17,158
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	5,583	5,417
Social security and other taxes	15,624	15,419
Other creditors	4,250	3,500
	--------	--------
	25,457	24,336
	--------	--------

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

	2025	2024
	£	£
Bank loans and overdrafts	7,332	14,491
	-------	--------