Glyn Peter Machin Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07275623

Glyn Peter Machin Limited

Filleted Unaudited Financial Statements

31 July 2025

Glyn Peter Machin Limited

Statement of Financial Position

31 July 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		11,248	13,187

Current assets

Stocks		173,021	420,921
Debtors	7	94,259	424,442
Cash at bank and in hand		720,232	1,489,229
		---------	------------
		987,512	2,334,592

Creditors: amounts falling due within one year	8	981,138		2,305,702
		---------		------------
Net current assets			6,374	28,890
			--------	--------
Total assets less current liabilities			17,622	42,077

Provisions

Taxation including deferred tax	2,324	2,701
	--------	--------
Net assets	15,298	39,376
	--------	--------

Capital and reserves

Called up share capital	9	1	1
Profit and loss account		15,297	39,375
		--------	--------
Shareholder funds		15,298	39,376
		--------	--------

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 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Glyn Peter Machin Limited

Statement of Financial Position (continued)

31 July 2025

These financial statements were approved by the board of directors and authorised for issue on 29 April 2026 , and are signed on behalf of the board by:

G P Machin
Director

Company registration number: 07275623

Glyn Peter Machin Limited

Notes to the Financial Statements

Year ended 31 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 4th Floor, 58-59 Great Marlborough St, Sutherland House, London, W1F 7JY, United Kingdom.

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.

Borrowing costs

All borrowing costs are recognised in profit and loss in the period in which they are incurred.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax, in respect of design and provision of bespoke luxury furniture for yachts.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Fixtures and fittings	-	20% straight line
Equipment	-	20% 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. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks and work in progress

Stocks and Work in Progress are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	93,553	183,401
Adjustments in respect of prior periods	( 43)	( 50)
	--------	---------
Total current tax	93,510	183,351
	--------	---------

Deferred tax:

Origination and reversal of timing differences	( 377)	1,408
	--------	---------
Tax on profit	93,133	184,759
	--------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	372,703	737,909
	---------	---------
Profit on ordinary activities by rate of tax	93,176	184,477
Adjustment to tax charge in respect of prior periods	( 43)	( 50)
Effect of capital allowances and depreciation	377	( 1,076)
Deferred tax	( 377)	1,408
	---------	---------
Tax on profit	93,133	184,759
	---------	---------

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 August 2024	33,127	78,117	111,244
Additions	–	1,986	1,986
	--------	--------	---------
At 31 July 2025	33,127	80,103	113,230
	--------	--------	---------
Depreciation
At 1 August 2024	33,127	64,930	98,057
Charge for the year	–	3,925	3,925
	--------	--------	---------
At 31 July 2025	33,127	68,855	101,982
	--------	--------	---------
Carrying amount
At 31 July 2025	–	11,248	11,248
	--------	--------	---------
At 31 July 2024	–	13,187	13,187
	--------	--------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	–	2,573
Amounts owed by group undertakings	80,000	383,648
Prepayments and accrued income	7,347	9,391
Director's loan account	–	3,150
Other debtors	6,912	25,680
	--------	---------
	94,259	424,442
	--------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	57,173	123,723
Amounts owed to Glyn Peter Machin AS	364,065	314,294
Corporation tax	93,553	183,401
Social security and other taxes	–	297,985
Other creditors	466,347	1,386,299
	---------	------------
	981,138	2,305,702
	---------	------------

Other creditors include deferred income of £189,535 (2024: £721,877)

9. Called up share capital

Issued, called up and fully paid

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

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
G P Machin	3,150	( 1,494)	( 3,150)	( 1,494)
	-------	-------	-------	-------

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
G P Machin	2,008	13,388	( 12,246)	3,150
	-------	--------	--------	-------

11. Related party transactions

The Company is a wholly owned subsidiary of Ennairam Holding ApS, registered in Denmark. Management fees of £449,729 (2024: £808,115) were charged by Glyn Peter Machin ApS, a group company registered in Denmark. At the end of the financial year, there is an intercompany debit balance of £80,000(2024: £383,648) in relation to the holding company, Ennariam Holding ApS.