GEARSERV LIMITED - Filleted accounts

Registered number

13032683

GEARSERV LIMITED

Filleted Accounts

30 November 2025

GEARSERV LIMITED
Registered number:		13032683
Balance Sheet
as at 30 November 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		195,597			200,868

Current assets
Stocks		73,217			120,082
Debtors	4	727,361			161,784
Cash at bank and in hand		125,177			162,322
		925,755			444,188

Creditors: amounts falling due within one year	5	(988,666)			(514,150)

Net current liabilities			(62,911)			(69,962)

Total assets less current liabilities			132,686			130,906


Provisions for liabilities			(38,435)			(38,435)


Net assets			94,251			92,471

Capital and reserves
Called up share capital			102			102
Profit and loss account			94,149			92,369

Shareholders' funds			94,251			92,471

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.




S Edmondson
Director
Approved by the board on 10 August 2026

GEARSERV LIMITED
Notes to the Accounts
for the year ended 30 November 2025


1	Accounting policies

	General information and basis of preparation
	Gearserv Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £000.

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	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:

	Freehold buildings	over 50 years
	Leasehold land and buildings	over the lease term
	Plant and machinery	20% reducing balance
	Fixtures, fittings, tools and equipment	25% straight line
	Motor vehicles	25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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 foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	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			7		6


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 December 2024	163,821		162,514		326,335
	Additions	18,022		45,445		63,467
	Disposals	-		(27,990)		(27,990)
	At 30 November 2025	181,843		179,969		361,812

	Depreciation
	At 1 December 2024	54,399		71,068		125,467
	Charge for the year	25,957		32,642		58,599
	On disposals	-		(17,851)		(17,851)
	At 30 November 2025	80,356		85,859		166,215

	Net book value
	At 30 November 2025	101,487		94,110		195,597
	At 30 November 2024	109,422		91,446		200,868


4	Debtors			2025		2024
£					£

	Trade debtors			722,685		156,751
	Other debtors			4,676		3,971
	Corporation tax owed			-		1,062
				727,361		161,784


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

	Trade creditors			281,216		457,632
	Taxation and social security costs			128,158		56,260
	Other creditors			579,292		258
				988,666		514,150


6	Other information

	GEARSERV LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 5 Concept Court
	Kettlestring Lane
	York
	YO30 4XF