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Registered number: 01622771
Garforth Building Supplies Limited
Unaudited Financial Statements
For The Year Ended 31 August 2025
Crag & Co
First Floor, Embsay Mill
Embsay
Skipton
North Yorkshire
BD23 6QR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01622771
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,604,920 1,510,792
1,604,920 1,510,792
CURRENT ASSETS
Stocks 5 905,472 906,348
Debtors 6 342,766 400,829
Cash at bank and in hand 170,817 210,993
1,419,055 1,518,170
Creditors: Amounts Falling Due Within One Year 7 (375,965 ) (351,231 )
NET CURRENT ASSETS (LIABILITIES) 1,043,090 1,166,939
TOTAL ASSETS LESS CURRENT LIABILITIES 2,648,010 2,677,731
Creditors: Amounts Falling Due After More Than One Year 8 (935,140 ) (968,683 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (120,920 ) (140,936 )
NET ASSETS 1,591,950 1,568,112
CAPITAL AND RESERVES
Called up share capital 11 200,000 200,000
Revaluation reserve 12 270,617 270,617
Other reserves 209,404 209,404
Profit and Loss Account 911,929 888,091
SHAREHOLDERS' FUNDS 1,591,950 1,568,112
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Page 2
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Sheena Macdonald
Director
27/05/2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Garforth Building Supplies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01622771 . The registered office is Ash Lane, Garforth, Leeds, LS25 2HQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, excluding land and buildings, over their expected useful lives on the following bases:
Freehold 0% on revalued amounts
Plant & Machinery 25% on net book value
Motor Vehicles 25% on net book value
Fixtures & Fittings 25% on net book value
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2024: 9)
10 9
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 September 2024 1,162,029 466,936 684,495 2,313,460
Additions 176,542 6,373 - 182,915
As at 31 August 2025 1,338,571 473,309 684,495 2,496,375
Depreciation
As at 1 September 2024 - 327,960 474,708 802,668
Provided during the period - 36,340 52,447 88,787
As at 31 August 2025 - 364,300 527,155 891,455
Net Book Value
As at 31 August 2025 1,338,571 109,009 157,340 1,604,920
As at 1 September 2024 1,162,029 138,976 209,787 1,510,792
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Cost or valuation as at 31 August 2025 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
At cost - 473,309 684,495 - 1,157,804
At valuation 1,338,571 - - - 1,338,571
1,338,571 473,309 684,495 - 2,496,375
5. Stocks
2025 2024
£ £
Stock 905,472 906,348
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 217,645 237,075
Other debtors 125,121 163,754
342,766 400,829
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 33,951 47,293
Trade creditors 239,338 208,042
Bank loans and overdrafts 10,667 18,912
Other creditors 54,547 52,592
Taxation and social security 37,462 24,392
375,965 351,231
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 22,634 53,755
Bank loans 121,721 124,143
Other creditors 790,785 790,785
935,140 968,683
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9. Secured Creditors
Of the creditors the following amounts are secured.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 56,585 101,048
Bank loans and overdrafts 132,388 143,055
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 33,951 47,293
Later than one year and not later than five years 22,634 53,755
56,585 101,048
56,585 101,048
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 200,000 200,000
12. Reserves
Revaluation reserve Other reserves Profit and Loss Account
£ £ £
As at 1 September 2024 270,617 209,404 888,091
Profit for the year and total comprehensive income - - 23,838
As at 31 August 2025 270,617 209,404 911,929
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