REGISTERED NUMBER: 00686373 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2025

for

G.W.MARTIN & CO. LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G P P Martin FCA

Mrs B A Yalden

S M Yalden

REGISTERED OFFICE:

Ashleigh

Lakewood Close

Chandlers Ford

Eastleigh

Hampshire

SO53 1EY

REGISTERED NUMBER:

00686373 (England and Wales)

ACCOUNTANTS:

GMandCo Trading Limited

Ashleigh,

3 Lakewood Close

Chandlers Ford

Hampshire

SO53 1EY

FIXED ASSETS

Tangible assets

4

1,973,406

3,799,504

Investments

5

1,552,046

1,553,348

3,525,452

5,352,852

CURRENT ASSETS

Stocks

1,177,441

921,896

Debtors

6

1,188,520

700,925

Cash at bank and in hand

577,635

537,301

2,943,596

2,160,122

CREDITORS

Amounts falling due within one year

7

1,556,682

876,451

NET CURRENT ASSETS

1,386,914

1,283,671

TOTAL ASSETS LESS CURRENT LIABILITIES

4,912,366

6,636,523

CREDITORS

Amounts falling due after more than one year

8

(137,500

)

(110,965

)

PROVISIONS FOR LIABILITIES

(317,286

)

(598,645

)

NET ASSETS

4,457,580

5,926,913

CAPITAL AND RESERVES

Called up share capital

807,275

807,275

Share premium

150

150

Revaluation reserve

9

-

1,552,320

Capital redemption reserve

2,025

2,025

Retained earnings

3,648,130

3,565,143

SHAREHOLDERS' FUNDS

11

4,457,580

5,926,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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.

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 25 July 2026 and were signed on its behalf by:

G P P Martin FCA - Director

1.	STATUTORY INFORMATION

G.W.MARTIN & CO. LIMITED is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Plant and machinery

-

10% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax payable on the deposit interest in this year's accounts has been calculated at 19%. No tax is payable on the trading profits due to losses bought forward. The deferred tax liability has been calculated at 25%

Deferred tax

Deferred tax is recognized 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 recognized 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 recognized 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2024 - 40 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 November 2024

2,175,000

6,435,390

8,610,390

Additions

1

316,212

316,213

Disposals

-

(3,295

)

(3,295

)

Revaluations

(1,776,631

)

-

(1,776,631

)

At 31 October 2025

398,370

6,748,307

7,146,677

DEPRECIATION

At 1 November 2024

-

4,810,886

4,810,886

Charge for year

-

291,785

291,785

Revaluation adjustments

70,600

-

70,600

At 31 October 2025

70,600

5,102,671

5,173,271

NET BOOK VALUE

At 31 October 2025

327,770

1,645,636

1,973,406

At 31 October 2024

2,175,000

1,624,504

3,799,504

Cost or valuation at 31 October 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

398,370

6,748,307

7,146,677

A decision was made this year to reverse the revaluation and show the Freehold Land and Buildings at cost, less historic depreciation. This keeps the treatment of the Freehold in line with other fixed assets such as Plant and Machinery

Most of the freehold site and land occupied by the Company was valued by Patrick Warwick-Smith MRICS of Warwick Martel on 25th November 2016. The valuation was made on a current use basis and took no account of the significant development value of the site. The valuation was only for the 22,000 square feet factory site, and approximately 2 acres of land that it occupies and amounted to £2,000,000. The company owns a further 11 acres of land behind the factory site.

Barclays bank hold a fixed charge over the Bishopstoke Road freehold property and the two areas of land it stand on. THe charge does not cover the additional 11 acres of land. This charge allows Barclays to grant an overdraft facility, which at the time of this report is not being used.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST OR VALUATION

At 1 November 2024

704,189

Additions

116,000

At 31 October 2025

820,189

DEPRECIATION

At 1 November 2024

211,257

Charge for year

79,119

At 31 October 2025

290,376

NET BOOK VALUE

At 31 October 2025

529,813

At 31 October 2024

492,932

5.	FIXED ASSET INVESTMENTS

31.10.25

31.10.24

£

£

Shares in group undertakings

37,046

36,631

Loans to group undertakings

1,515,000

1,516,717

1,552,046

1,553,348

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 November 2024

36,631

Additions

415

At 31 October 2025

37,046

NET BOOK VALUE

At 31 October 2025

37,046

At 31 October 2024

36,631

Loans to

group

undertakings

£

At 1 November 2024

1,516,717

Repayment in year

(1,717

)

At 31 October 2025

1,515,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Trade debtors

740,201

345,996

Other debtors

448,319

354,929

1,188,520

700,925

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Hire purchase contracts

40,974

129,669

Trade creditors

1,027,019

538,085

Taxation and social security

263,857

87,622

Other creditors

224,832

121,075

1,556,682

876,451

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.25

31.10.24

£

£

Hire purchase contracts

37,500

10,965

Other creditors

100,000

100,000

137,500

110,965

9.

RESERVES

Revaluation

reserve

£

At 1 November 2024

1,552,320

Revaluation reserve

(1,552,320

)

At 31 October 2025

-

10.	POST BALANCE SHEET EVENTS

We returned to a profit in 2025 because the orders we had been expecting started to arrive in the middle of 2024. We had invested over £1m in 2020 to have capacity in anticipation of these orders, and depreciating this under-utilized plant, contributed to the losses of 2022 and 2023.

Last year, at the time of signing of the accounts, I said our order book was £8m and was rising. It is now over £13m which means we will have a good year in 2027 and 2028 even without further orders. Turnover for the 2026 financial year will be in the region over the £8m forecast here last year. This will produce excellent profits.

We have used some of those profits to further invest in plant to ensure we have even more capacity to be ready for our customers' demands.

11.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

31.10.25

31.10.24

£

£

Profit/(loss) for the financial year

114,987

(593,915

)

Dividends

(32,000

)

(32,000

)

82,987

(625,915

)

Reduction in Revaluation Reserve

(1,552,320

)

(300,169

)

Opening Shareholders Funds

-

6,852,997

Net (reduction)/addition to shareholders' funds

(1,469,333

)

5,926,913

Opening shareholders' funds

5,926,913

-

Closing shareholders' funds

4,457,580

5,926,913