GT Coatings Limited - Filleted accounts

Registered number

00534437

GT Coatings Limited

Filleted Accounts

31 October 2025

GT Coatings Limited
Registered number:	00534437
Balance Sheet
as at 31 October 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		140,877			130,069

Current assets
Stocks		61,858			72,001
Debtors	4	251,432			162,808
Cash at bank and in hand		823,838			690,177
		1,137,128			924,986

Creditors: amounts falling due within one year	5	(273,127)			(310,483)

Net current assets			864,001			614,503

Total assets less current liabilities			1,004,878			744,572


Provisions for liabilities			(32,928)			(555)


Net assets			971,950			744,017

Capital and reserves
Called up share capital			34,828			34,828
Share premium			742			742
Capital redemption reserve			33,000			33,000
Profit and loss account			903,380			675,447

Shareholder's funds			971,950			744,017

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




N S Turnbull
Director
Approved by the board on 30 July 2026

GT Coatings Limited
Notes to the Accounts
for the year ended 31 October 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	15% reducing balance or 10% straight line
	Fixtures, fittings, tools and equipment	15% reducing balance or 25% straight line
	Computer equipment	33.33% straight line
	Motor vehicles	25% straight line

	Stocks
	Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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 future taxable profits. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

	Leased assets
	Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees		2025		2024
Number				Number

	Average number of persons employed by the company		10		12


3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 November 2024				410,993
	Additions				34,415
	At 31 October 2025				445,408

	Depreciation
	At 1 November 2024				280,924
	Charge for the year				23,607
	At 31 October 2025				304,531

	Net book value
	At 31 October 2025				140,877
	At 31 October 2024				130,069


4	Debtors		2025		2024
£				£

	Trade debtors		184,579		150,440
	Other debtors		66,853		12,368
			251,432		162,808


5	Creditors: amounts falling due within one year		2025		2024
£				£

	Trade creditors		145,727		63,137
	Taxation and social security costs		57,859		65,317
	Other creditors		69,541		182,029
			273,127		310,483


6	Other financial commitments		2025		2024
£				£

	Total future minimum payments under non-cancellable operating leases		28,133		1,217


7	Other information

	GT Coatings Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Northfield Way
	Aycliffe Industrial Park
	Newton Aycliffe
	County Durham
	DL5 6ST