| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 |
| FOR |
| GARRICK SURFACE COATINGS LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 |
| FOR |
| GARRICK SURFACE COATINGS LIMITED |
| GARRICK SURFACE COATINGS LIMITED (REGISTERED NUMBER: 03223433) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| GARRICK SURFACE COATINGS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chandler House |
| 7 Ferry Road Office Park |
| Riversway |
| Preston |
| Lancashire |
| PR2 2YH |
| GARRICK SURFACE COATINGS LIMITED (REGISTERED NUMBER: 03223433) |
| BALANCE SHEET |
| 31 AUGUST 2025 |
| 31/8/25 | 31/8/24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Revaluation reserve | 13 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| GARRICK SURFACE COATINGS LIMITED (REGISTERED NUMBER: 03223433) |
| BALANCE SHEET - continued |
| 31 AUGUST 2025 |
| The financial statements were approved by the director and authorised for issue on |
| GARRICK SURFACE COATINGS LIMITED (REGISTERED NUMBER: 03223433) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| 1. | STATUTORY INFORMATION |
| Garrick Surface Coatings Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is shorter. |
| Freehold property - not provided |
| Plant and machinery - 10% on cost and 2% on reducing balance |
| Fixtures and fittings - 15% on reducing balance |
| Motor vehicles - 20% on reducing balance |
| Computer equipment - 15% on reducing balance |
| Freehold property is maintained to ensure that its value does not diminish over time. The maintenance costs are charged to the profit and loss account as they are incurred. In the opinion of the director, depreciation would be immaterial and therefore freehold property is not depreciated. |
| 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 Income Statement, 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. |
| GARRICK SURFACE COATINGS LIMITED (REGISTERED NUMBER: 03223433) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Going concern |
| The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus continues to adopt the going concern basis of accounting in preparing the annual financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 September 2024 |
| Additions |
| Disposals | ( |
) |
| At 31 August 2025 |
| DEPRECIATION |
| At 1 September 2024 |
| Charge for year |
| At 31 August 2025 |
| NET BOOK VALUE |
| At 31 August 2025 |
| At 31 August 2024 |
| GARRICK SURFACE COATINGS LIMITED (REGISTERED NUMBER: 03223433) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2024 |
| Additions |
| Disposals | ( |
) |
| At 31 August 2025 |
| DEPRECIATION |
| At 1 September 2024 |
| Charge for year |
| At 31 August 2025 |
| NET BOOK VALUE |
| At 31 August 2025 |
| At 31 August 2024 |
| Freehold land and buildings were originally valued on an open market basis on 6 December 2006 by H.W. Petty & Co. |
| The freehold land and buildings were again revalued in the year ended 31st August 2024. |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2024 |
| Additions |
| Transfer to ownership | (43,860 | ) | (39,750 | ) | (83,610 | ) |
| At 31 August 2025 |
| DEPRECIATION |
| At 1 September 2024 |
| Charge for year |
| Transfer to ownership | (5,740 | ) | (8,550 | ) | (14,290 | ) |
| At 31 August 2025 |
| NET BOOK VALUE |
| At 31 August 2025 |
| At 31 August 2024 |
| 5. | STOCKS |
| 31/8/25 | 31/8/24 |
| £ | £ |
| Stock and WIP |
| GARRICK SURFACE COATINGS LIMITED (REGISTERED NUMBER: 03223433) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/8/25 | 31/8/24 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | - | 17,993 |
| Tax |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/8/25 | 31/8/24 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Hire purchase contracts |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Factoring Account | 254,747 | 302,238 |
| Directors' current accounts | 9,901 | - |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/8/25 | 31/8/24 |
| £ | £ |
| Hire purchase contracts |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31/8/25 | 31/8/24 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| GARRICK SURFACE COATINGS LIMITED (REGISTERED NUMBER: 03223433) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31/8/25 | 31/8/24 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 18,554 | 35,266 |
| Factoring account | 254,747 | 302,238 |
| Time Finance PLC (formerly Positive Cash Flow Finance Limited) hold fixed and floating charges in relation to the property held. |
| The factoring account is secured on the trade debtors of the company. |
| 11. | PROVISIONS FOR LIABILITIES |
| 31/8/25 | 31/8/24 |
| £ | £ |
| Deferred tax | 119,454 | 80,510 |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2024 |
| Charge to Income Statement during year |
| Balance at 31 August 2025 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/8/25 | 31/8/24 |
| value: | £ | £ |
| Ordinary | £1 | 150 | 150 |
| Ordinary A | £1 | 1,003 | 1,003 |
| 1,153 | 1,153 |
| 13. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 September 2024 |
| Transfer between reserves | (70,006 | ) |
| At 31 August 2025 |
| GARRICK SURFACE COATINGS LIMITED (REGISTERED NUMBER: 03223433) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2025 |
| 14. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 August 2025 and 31 August 2024: |
| 31/8/25 | 31/8/24 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |