GC Interiors Oxford Limited - Filleted accounts


GC INTERIORS OXFORD LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2025



































Company Registration Number: 01770045

GC INTERIORS OXFORD LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the financial statements									4 to 11

GC INTERIORS OXFORD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2025


DIRECTORS

G W Chalmers
N A Chalmers
J A Chalmers


SECRETARY

J A Chalmers


REGISTERED OFFICE

146 Cumnor Hill
Cumnor
Oxford
OX2 9PW


COMPANY REGISTRATION NUMBER

01770045 England and Wales

GC INTERIORS OXFORD LIMITED

BALANCE SHEET
AS AT 31 AUGUST 2025


	Notes	2025		2024
		£		£

FIXED ASSETS
Tangible assets	6		711,260		734,981

CURRENT ASSETS
Stock		485,444		603,056
Debtors	7	3,271,781		2,835,983
Cash at bank and in hand		416,367		536,633


		4,173,592		3,975,672

CREDITORS: Amounts falling due within one year	8	3,111,413		2,882,799
CREDITORS: Amounts falling due within one year


NET CURRENT ASSETS			1,062,179		1,092,873


TOTAL ASSETS LESS CURRENT LIABILITIES			1,773,439		1,827,854

CREDITORS: Amounts falling due after more than one year	9		-		3,450
CREDITORS: Amounts falling due after more than one year

Provisions for liabilities and charges			138,137		146,814


NET ASSETS			1,635,302		1,677,590


CAPITAL AND RESERVES
Called up share capital			107		105
Distributable profit and loss account			1,635,195		1,677,485


SHAREHOLDERS' FUNDS			1,635,302		1,677,590

GC INTERIORS OXFORD LIMITED

BALANCE SHEET
AS AT 31 AUGUST 2025


These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.


Signed on behalf of the board of directors




G W Chalmers						N A Chalmers
Director						Director

Date approved by the board: 28 May 2026

GC INTERIORS OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025


1	GENERAL INFORMATION

	GC Interiors Oxford Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:

	146 Cumnor Hill
	Cumnor
	Oxford
	OX2 9PW

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable and represents the value of fitted furniture sold and installed during the year, stated net of trade discounts and value added tax.

	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.


	Intangible fixed assets

	Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.

	Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life. The intangible fixed asset has been fully amortised.

	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 expectations.

GC INTERIORS OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.

	Plant and equipment	Reducing balance basis at 25% per annum
	Motor vehicles	Reducing balance basis at 25% per annum
	Display equipment	Reducing balance basis at 25% per annum
	Leasehold improvements	No depreciation charged

	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

	Financial Instruments

	A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


	Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account.

	Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.

	Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.


	Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.

	Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

GC INTERIORS OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

	Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.

	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.


	Stock

	Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a standard cost basis.

	The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.


	Work in progress

	Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises the cost of materials and direct labour relevant to the stage of construction.

	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

GC INTERIORS OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Leases

	Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.

	Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.

	Taxation

	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.

	Deferred tax is measured using 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.


	Current and deferred tax assets and liabilities are not discounted.

	Foreign currencies

	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

	Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the rate of exchange prevailing at that date. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit or loss.


	Pensions

	The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.

GC INTERIORS OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025


3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

4	EMPLOYEES

	The average number of persons employed by the company (including directors) during the year was:

		2025	2024
	Average number of employees	13	15


5	INTANGIBLE FIXED ASSETS
			Net goodwill
			£
	Cost
	At 1 September 2024		190,000


	At 31 August 2025		190,000


	Accumulated amortisation and impairments
	At 1 September 2024		190,000


	At 31 August 2025		190,000


	Net book value
	At 1 September 2024		-


	At 31 August 2025		-

GC INTERIORS OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025


6	TANGIBLE ASSETS
		Plant and equipment	Motor vehicles	Display equipment	Leasehold improvements		Total
		£	£	£		£	£
	Cost
	At 1 September 2024	158,389	202,342	145,631		457,401	963,763

	Additions	1,094	31,956	23,156		-	56,206

	Disposals	-	-	(11,461)		-	(11,461)


	At 31 August 2025	159,483	234,298	157,326		457,401	1,008,508


	Accumulated depreciation and impairments
	At 1 September 2024	81,600	113,579	33,357		246	228,782

	Charge for year	19,352	22,814	31,690		2,891	76,747

	Disposals	-	-	(8,281)		-	(8,281)


	At 31 August 2025	100,952	136,393	56,766		3,137	297,248


	Net book value
	At 1 September 2024	76,789	88,763	112,274		457,155	734,981


	At 31 August 2025	58,531	97,905	100,560		454,264	711,260


7	DEBTORS
						2025	2024
						£	£
	Trade debtors					-	14,055
	Prepayments and accrued income					22,571	16,781
	Other debtors					3,249,210	2,805,147


						3,271,781	2,835,983


8	CREDITORS: Amounts falling due within one year
						2025	2024
						£	£
	Trade creditors					2,843,098	2,379,185
	Taxation and social security					156,983	141,021
	Hire purchase contracts and finance leases					3,450	10,350
	Accruals and deferred income					73,414	161,482
	Other creditors					34,468	190,761


						3,111,413	2,882,799

GC INTERIORS OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025


9	CREDITORS: Amounts falling due after more than one year
							2025	2024
							£	£
	Hire purchase contracts and finance leases						-	3,450


10	SECURED DEBTS

	The company has granted a debenture in favour of Barclays Bank PLC, comprising fixed and floating charges over the company’s assets, as security for the bank borrowings of its parent company. The company itself has no direct borrowings with the bank.

11	CONTINGENT LIABILITIES

	The company has entered into a cross‑guarantee arrangement with its parent company, G C Interiors Construction Limited, in respect of bank borrowings held by the parent. Under the terms of this arrangement, the company has guaranteed the repayment of the parent company’s bank loan facilities. No liability has been recognised in these financial statements as the directors consider that the likelihood of the guarantee being called is remote.

12	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

	The following director's advances, credits and guarantees took place during the year:

		Balance at 1 September 2024		Amounts advanced		Amounts repaid	Amounts written off or waived	Balance at 31 August 2025
			£		£	£	£	£
	G W & N A Chalmers		-		339,234	213,840	-	125,394
	J A Chalmers		-		88,453	88,152	-	301


			-		427,687	301,992	-	125,695


	Interest has been charged on these advances at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. These advances are repayable on demand.

GC INTERIORS OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025


13	RELATED PARTY TRANSACTIONS

	The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:

	G C Interiors Construction Limited	Parent company

	During the year, the following transactions with related parties took place:

	G W & N A Chalmers
	Directors		2025	2024
			£	£
	Amounts owed to directors		-	116,267


	J A Chalmers
	Director		2025	2024
			£	£
	Amount owed to director		-	22,626


	G C Homes Oxford Limited
	Associated company		2025	2024
			£	£
	Amount owed from associated company		361,996	580,847


	G C Construction and Civils Limited
	Associated company		2025	2024
			£	£
	Amount owed from associated company		29,989	-