REGISTERED NUMBER: SC079479 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

GILLRICK METALWORK LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G C McCracken

G R McCracken

SECRETARY:

G C McCracken

REGISTERED OFFICE:

Block 8

Units 1 & 2

Chapelhall Industrial Estate

Airdrie

ML6 8QH

REGISTERED NUMBER:

SC079479 (Scotland)

ACCOUNTANT:

I M Neilson

Chartered Accountant

62E Cleveden Drive

Glasgow

G12 0NX

FIXED ASSETS

Tangible assets

4

512,688

112,044

CURRENT ASSETS

Stocks

39,012

47,658

Debtors

380,823

423,708

Cash at bank

398,728

526,412

818,563

997,778

CREDITORS

Amounts falling due within one year

(322,159

)

(397,109

)

NET CURRENT ASSETS

496,404

600,669

TOTAL ASSETS LESS CURRENT LIABILITIES

1,009,092

712,713

CREDITORS

Amounts falling due after more than one year

(206,250

)

(6,667

)

PROVISIONS FOR LIABILITIES

5

(58,097

)

(16,895

)

NET ASSETS

744,745

689,151

CAPITAL AND RESERVES

Called up share capital

6

25,000

25,000

Retained earnings

719,745

664,151

SHAREHOLDERS' FUNDS

744,745

689,151

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2026 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2026 and were signed on its behalf by:

G C McCracken - Director

1.	STATUTORY INFORMATION

Gillrick Metalwork Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is provided on all tangible fixed assets, on the reducing balance method at the following rates:-

Land & buildings

2%

Plant & machinery

15%

Motor vehicles

25%

Fixtures & fittings

15%

Office furniture & equipment

10% or more

The assets residual values, useful lives and depreciation methods are reviewed annually and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

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.

Hire purchase and leasing commitments

Assets acquired under finance leases or hire purchase contracts are capitalised as tangible assets and depreciated over their useful lives. Finance charges and interest are taken to the profit and loss account in constant proportion to the remaining balance of capital repayments or net obligations outstanding.

Pensions

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge represents contributions payable by the company to the funds.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2025 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2025

837,139

Additions

454,926

Disposals

(83,500

)

At 31 March 2026

1,208,565

DEPRECIATION

At 1 April 2025

725,095

Charge for year

54,282

Eliminated on disposal

(83,500

)

At 31 March 2026

695,877

NET BOOK VALUE

At 31 March 2026

512,688

At 31 March 2025

112,044

The net book value of assets under hire purchase contracts was £360,432 (31/3/25: £nil).

5.	PROVISIONS FOR LIABILITIES

31.3.26

31.3.25

£

£

Deferred tax

58,097

16,895

Deferred

tax

£

Balance at 1 April 2025

16,895

Charge to Income Statement during year

41,202

Balance at 31 March 2026

58,097

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.26

31.3.25

value:

£

£

25,000

ordinary

£1

25,000

25,000