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Registered number: 10969402
G Bulman Sealants Limited
Unaudited Financial Statements
For The Year Ended 31 October 2025
MJH Accountants Limited
Chartered Accountants and Chartered Tax Advisers
129 Woodplumpton Road
Fulwood
Preston
Lancashire
PR2 3LF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 10969402
2025 2024
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 22,000 33,000
Tangible Assets 5 158,962 218,558
180,962 251,558
CURRENT ASSETS
Stocks 6 17,030 17,030
Debtors 7 300,109 397,620
Cash at bank and in hand 86,187 42,426
403,326 457,076
Creditors: Amounts Falling Due Within One Year 8 (192,728 ) (147,164 )
NET CURRENT ASSETS (LIABILITIES) 210,598 309,912
TOTAL ASSETS LESS CURRENT LIABILITIES 391,560 561,470
Creditors: Amounts Falling Due After More Than One Year 9 (67,253 ) (221,194 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (39,741 ) (29,009 )
NET ASSETS 284,566 311,267
CAPITAL AND RESERVES
Called up share capital 12 96 96
Capital redemption reserve 5 5
Profit and Loss Account 284,465 311,166
SHAREHOLDERS' FUNDS 284,566 311,267
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For the year ending 31 October 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 his 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 G Bulman
Director
29 July 2026
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
G Bulman Sealants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10969402 . The registered office is G Bulman Sealants, 6 Bridge Road, Preston, PR2 2JU.
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 receivable, net of discounts and value added tax.
Rendering of services
Turnover represents revenue earned from the provision of mastic sealant installation and related services.
Turnover is recognised on completion of the contracted works, when the customer has obtained the benefit of those services and the amount of revenue can be reliably measured.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 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:
Plant & Machinery 20% on written down value
Motor Vehicles 25% on written down value
Fixtures & Fittings 20% on written down value
Computer Equipment 25% on written down value and 33.3% on cost
2.5. 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.
2.6. 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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2.7. 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. 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.
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: 19 (2024: 16)
19 16
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2024 110,000
As at 31 October 2025 110,000
Amortisation
As at 1 November 2024 77,000
Provided during the period 11,000
As at 31 October 2025 88,000
Net Book Value
As at 31 October 2025 22,000
As at 1 November 2024 33,000
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2024 7,208 276,415 1,743 4,352 289,718
Additions 407 - - 1,489 1,896
Disposals - (40,341 ) - - (40,341 )
As at 31 October 2025 7,615 236,074 1,743 5,841 251,273
Depreciation
As at 1 November 2024 3,178 63,620 174 4,188 71,160
Provided during the period 848 51,765 314 248 53,175
Disposals - (32,024 ) - - (32,024 )
As at 31 October 2025 4,026 83,361 488 4,436 92,311
Net Book Value
As at 31 October 2025 3,589 152,713 1,255 1,405 158,962
As at 1 November 2024 4,030 212,795 1,569 164 218,558
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2025 2024
as restated
£ £
Motor Vehicles 146,532 195,384
6. Stocks
2025 2024
as restated
£ £
Stock 17,030 17,030
7. Debtors
2025 2024
as restated
£ £
Due within one year
Trade debtors 281,371 338,008
Other debtors 18,738 59,612
300,109 397,620
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
as restated
£ £
Net obligations under finance lease and hire purchase contracts 68,258 63,304
Trade creditors 45,571 34,704
Bank loans and overdrafts 5,827 10,147
Other creditors 43,773 19,160
Taxation and social security 29,299 19,849
192,728 147,164
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
as restated
£ £
Net obligations under finance lease and hire purchase contracts 67,253 135,511
Bank loans - 5,683
Other creditors - 80,000
67,253 221,194
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
as restated
£ £
The future minimum finance lease payments are as follows:
Not later than one year 68,258 63,304
Later than one year and not later than five years 67,253 135,511
135,511 198,815
135,511 198,815
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
as restated
£ £
Accelerated capital allowances 39,741 54,640
Tax losses carried forward - (25,631 )
39,741 29,009
12. Share Capital
2025 2024
as restated
£ £
Allotted, Called up and fully paid 96 96
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13. Pension Commitments
The company operates a defined contribution pension scheme for the employees of the company.
The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £4,364 (2024 - £2,329) were due to the fund. They are included in Other Creditors.
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