Garfitts (International) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 02603955

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		103,980		109,756

			103,980		109,756
CURRENT ASSETS
Stocks	6	70,034		73,720
Debtors	7	642,563		1,020,448
Cash at bank and in hand		12,902		41,072

		725,499		1,135,240
Creditors: Amounts Falling Due Within One Year	8	(232,957 )		(634,053 )

NET CURRENT ASSETS (LIABILITIES)			492,542		501,187

TOTAL ASSETS LESS CURRENT LIABILITIES			596,522		610,943

Creditors: Amounts Falling Due After More Than One Year	9		-		(5,578 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(16,756 )		(18,003 )

NET ASSETS			579,766		587,362

CAPITAL AND RESERVES
Called up share capital	10		300		300
Profit and Loss Account			579,466		587,062

SHAREHOLDERS' FUNDS			579,766		587,362

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Garfitts (International) Limited

Balance Sheet (continued)

As At 30 September 2025

For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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

Mr A P Brooks

Director

31 July 2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Garfitts (International) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02603955 . The registered office is Unit 6, Acorn Business Park, Woodseats Close, Sheffield, South Yorkshire, S8 0TB.

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. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business in 1990 and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of twenty years.

2.4. 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, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	- 4% straight line
Plant & Machinery	- 15% on reducing balance
Motor Vehicles	- 25% on reducing balance
Fixtures & Fittings	- 33% and 15% on reducing balance

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.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Garfitts (International) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.7. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.

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.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 17 (2024: 20)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 October 2024	25,000

As at 30 September 2025	25,000

Amortisation
As at 1 October 2024	25,000

As at 30 September 2025	25,000

Net Book Value
As at 30 September 2025	-

As at 1 October 2024	-

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 October 2024	362,823	639,264	36,404	84,945	1,123,436
Additions	-	5,300	-	842	6,142

As at 30 September 2025	362,823	644,564	36,404	85,787	1,129,578

...CONTINUED

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Garfitts (International) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

Depreciation
As at 1 October 2024	329,451	564,151	35,926	84,152	1,013,680
Provided during the period	-	11,533	120	265	11,918

As at 30 September 2025	329,451	575,684	36,046	84,417	1,025,598

Net Book Value
As at 30 September 2025	33,372	68,880	358	1,370	103,980

As at 1 October 2024	33,372	75,113	478	793	109,756

6. Stocks

	2025	2024
	£	£
Stock	70,034	73,720

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	192,186	773,892
Other debtors	450,377	246,556

	642,563	1,020,448

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	30,123	422,368
Bank loans and overdrafts	5,562	7,400
Other creditors	91,437	113,774
Taxation and social security	105,835	90,511

	232,957	634,053

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	-	5,578

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	300	300

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Garfitts (International) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 October 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 September 2025
	£	£	£	£	£
Mr Andrew Brooks	61,969	59,848	(43,813 )	-	78,004

The above loan is unsecured, interest free and repayable on demand.

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