GWALIA RECOVERY LIMITED

Unaudited Financial Statements

for the Year Ended 31st March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs M E Evans

SECRETARY:

Mrs M E Evans

REGISTERED OFFICE:

1 Abbots Quay

Monks Ferry

Birkenhead

Merseyside

CH41 5LH

REGISTERED NUMBER:

04651755 (England and Wales)

ACCOUNTANTS:

DJH Wirral & Chester Limited

1 Abbots Quay

Monks Ferry

Birkenhead

CH41 5LH

FIXED ASSETS

Intangible assets

4

104,300

111,750

Tangible assets

5

1,217,124

1,181,897

Investments

6

195,000

195,000

1,516,424

1,488,647

CURRENT ASSETS

Stocks

25,000

25,000

Debtors

7

694,683

800,715

Cash in hand

5,564

7,770

725,247

833,485

CREDITORS

Amounts falling due within one year

8

1,068,450

1,089,378

NET CURRENT LIABILITIES

(343,203

)

(255,893

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,173,221

1,232,754

CREDITORS

Amounts falling due after more than one year

9

(217,609

)

(308,763

)

PROVISIONS FOR LIABILITIES

11

(304,281

)

(295,474

)

NET ASSETS

651,331

628,517

CAPITAL AND RESERVES

Called up share capital

12

2

2

Retained earnings

651,329

628,515

SHAREHOLDERS' FUNDS

651,331

628,517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17th December 2025 and were signed by:

Mrs M E Evans - Director

1.	STATUTORY INFORMATION

Gwalia Recovery 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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 Statement of Income and Retained Earnings, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans are measured initially at fair value, net of transaction cost, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to / from related parties.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2024 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2024

and 31st March 2025

365,500

AMORTISATION

At 1st April 2024

253,750

Amortisation for year

7,450

At 31st March 2025

261,200

NET BOOK VALUE

At 31st March 2025

104,300

At 31st March 2024

111,750

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1st April 2024

279,244

130,958

1,423,427

1,833,629

Additions

65,339

-

28,500

93,839

Disposals

-

-

(84,102

)

(84,102

)

At 31st March 2025

344,583

130,958

1,367,825

1,843,366

DEPRECIATION

At 1st April 2024

229,600

128,974

293,158

651,732

Charge for year

21,646

450

23,493

45,589

Eliminated on disposal

-

-

(71,079

)

(71,079

)

At 31st March 2025

251,246

129,424

245,572

626,242

NET BOOK VALUE

At 31st March 2025

93,337

1,534

1,122,253

1,217,124

At 31st March 2024

49,644

1,984

1,130,269

1,181,897

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st April 2024

and 31st March 2025

445,500

DEPRECIATION

At 1st April 2024

44,500

Charge for year

14,500

At 31st March 2025

59,000

NET BOOK VALUE

At 31st March 2025

386,500

At 31st March 2024

401,000

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st April 2024

and 31st March 2025

195,000

NET BOOK VALUE

At 31st March 2025

195,000

At 31st March 2024

195,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

129,531

182,166

Amounts owed by group undertakings

392,734

463,120

Other debtors

172,418

155,429

694,683

800,715

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

106,032

96,917

Hire purchase contracts

27,276

36,561

Trade creditors

107,080

123,035

Taxation and social security

84,634

70,350

Other creditors

743,428

762,515

1,068,450

1,089,378

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

158,239

228,518

Hire purchase contracts

59,370

80,245

217,609

308,763

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

29,194

68,867

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

46,432

37,317

Bank loans

217,839

288,118

Hire purchase contracts

86,646

116,806

350,917

442,241

Hire purchases liabilities are secured on the assets to which they relate.

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Capital allowances in excess of depreciation

304,281

295,474

Deferred

tax

£

Balance at 1st April 2024

295,474

Provided during year

8,807

Profit and loss account

Balance at 31st March 2025

304,281

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

13.	RELATED PARTY DISCLOSURES

The following amounts are due to/from entities under common control :-

Included in other creditors is the sum of £274,415 (2024 - £293,502) owing to Gwalia Garage Caernarfon Limited, a company in which Mrs ME Evans own 100% of the issued share capital.

Further included in other creditors is the sum of £465,764 (2024 - £465,764) owing to Natural Too Limited, a company in which Mrs ME Evans own 100% of the issued share capital.

Included in other debtors is the sum of £392,734 (2024 £463,119) owing from Natural Ltd whom is a wholly owned subsidiary of the company.