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Company Registration No. 03760255 (England and Wales)
G.T. Products (Europe) Ltd. Unaudited accounts for the year ended 31 May 2025
G.T. Products (Europe) Ltd. Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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G.T. Products (Europe) Ltd. Company Information for the year ended 31 May 2025
Directors
Roger Gillam Anna Gillam
Company Number
03760255 (England and Wales)
Registered Office
Unit 14 Ford Lane Business Park Ford Lane Ford West Sussex BN18 0UZ United Kingdom
Accountants
B4Bookkeeping Ltd 1 Lincoln House Tangmere Chichester West Sussex PO20 2FS
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G.T. Products (Europe) Ltd. Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
-
7,840
Current assets
Inventories
-
218,128
Debtors
5
83,149
67,306
Cash at bank and in hand
547,292
127,137
630,441
412,571
Creditors: amounts falling due within one year
6
(124,680)
(107,987)
Net current assets
505,761
304,584
Total assets less current liabilities
505,761
312,424
Provisions for liabilities
Deferred tax
-
(1,010)
Other provisions
(3,730)
-
(3,730)
(1,010)
Net assets
502,031
311,414
Capital and reserves
Called up share capital
2
2
Profit and loss account
502,029
311,412
Shareholders' funds
502,031
311,414
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2026 and were signed on its behalf by
Roger Gillam Director Company Registration No. 03760255
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G.T. Products (Europe) Ltd. Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
G.T. Products (Europe) Ltd. is a private company, limited by shares, registered in England and Wales, registration number 03760255. The registered office is Unit 14 Ford Lane Business Park, Ford Lane, Ford, West Sussex, BN18 0UZ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% on cost
Plant & machinery
25% on reducing balance
Computer equipment
25% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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G.T. Products (Europe) Ltd. Notes to the Accounts for the year ended 31 May 2025
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 June 2024
5,542
108,825
26,839
141,206
Disposals
(5,542)
(108,825)
(26,839)
(141,206)
At 31 May 2025
-
-
-
-
Depreciation
At 1 June 2024
5,428
101,709
26,229
133,366
On disposals
(5,428)
(101,709)
(26,229)
(133,366)
At 31 May 2025
-
-
-
-
Net book value
At 31 May 2025
-
-
-
-
At 31 May 2024
114
7,116
610
7,840
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
77,178
59,982
Accrued income and prepayments
-
4,554
Other debtors
5,971
2,770
83,149
67,306
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
-
245
VAT
9,650
9,449
Trade creditors
37,869
86,204
Amounts owed to group undertakings and other participating interests
380
126
Taxes and social security
72,563
7,703
Loans from directors
-
2,456
Accruals
4,218
1,804
124,680
107,987
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G.T. Products (Europe) Ltd. Notes to the Accounts for the year ended 31 May 2025
7
Transactions with related parties
Included in creditors is an amount due to be paid by the company to its directors. The amount is an advance made to the company of £14,018. There is no interest due to be paid on any outstanding amount. No fixed date has been set for the amount to be repaid by the company.
8
Average number of employees
During the year the average number of employees was 5 (2024: 5).
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