REGISTERED NUMBER: 03798526 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

G.A. FIXINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

9

DIRECTORS:

Mr R Baker

Mr G D Hensby

Mrs S A Travis

Mr P D Travis

REGISTERED OFFICE:

Carr Brook Works

Elnor Lane

Whaley Bridge

High Peak

SK23 7JN

REGISTERED NUMBER:

03798526 (England and Wales)

AUDITORS:

Allens Accountants Limited

Registered Auditors and

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

FIXED ASSETS

Tangible assets

4

640,462

750,384

Investment property

5

183,068

187,428

823,530

937,812

CURRENT ASSETS

Stocks

6

192,305

163,700

Debtors

7

945,860

870,114

Cash at bank and in hand

3,657,437

3,473,714

4,795,602

4,507,528

CREDITORS

Amounts falling due within one year

8

943,498

1,087,826

NET CURRENT ASSETS

3,852,104

3,419,702

TOTAL ASSETS LESS CURRENT LIABILITIES

4,675,634

4,357,514

PROVISIONS FOR LIABILITIES

10

154,089

180,506

NET ASSETS

4,521,545

4,177,008

CAPITAL AND RESERVES

Called up share capital

11

301

301

Fair value reserve

12

22,629

22,629

Retained earnings

4,498,615

4,154,078

SHAREHOLDERS' FUNDS

4,521,545

4,177,008

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 24 April 2026 and were signed on its behalf by:

Mr P D Travis - Director

1.	STATUTORY INFORMATION

G.A. Fixings 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.

Going concern

After reviewing the Company's financial position, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future being a period of not less than 12 months from the date of approval of these financial statements. The Company therefore continues to adopt the going concern basis in preparing the financial statements.

Presentational currency

The financial statements are prepared in pound sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses for the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if revision only affects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The directors do not consider there to be any significant judgements and estimates that require disclosure.

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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 goods), the amount of revenue can be measured reliably, it is probable 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery

-

30% on reducing balance, 15% on reducing balance and 10% on reducing balance

Fixtures & fittings

-

15% on reducing balance and 10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance and 15% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the Income Statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in Income Statement.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 replacement cost and 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 the Income Statement. Reversals of impairment losses are also recognised in the Income Statement.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits, deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet, bank overdrafts are shown within borrowings or current liabilities.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised 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 recognised 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 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Where the Company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the Balance Sheet as a tangible fixed asset and is depreciated in accordance with the above depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the Income Statement on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.

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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Dividends

Dividends and other distributions to the Company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the Statement of Changes in Equity.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, together with loans to and from related parties.

Debt instruments (other than those wholly repayable or receivable in one year), including loans and other accounts receivable and payable, are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable in one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transactions, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2024 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Plant &

Fixtures

Motor

Computer

machinery

& fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 December 2024

873,735

34,396

29,345

39,058

976,534

Additions

18,983

-

-

-

18,983

Disposals

(7,154

)

(3,461

)

-

(7,372

)

(17,987

)

At 30 November 2025

885,564

30,935

29,345

31,686

977,530

DEPRECIATION

At 1 December 2024

187,375

9,653

12,838

16,284

226,150

Charge for year

102,743

5,365

4,127

12,430

124,665

Eliminated on disposal

(2,912

)

(3,462

)

-

(7,373

)

(13,747

)

At 30 November 2025

287,206

11,556

16,965

21,341

337,068

NET BOOK VALUE

At 30 November 2025

598,358

19,379

12,380

10,345

640,462

At 30 November 2024

686,360

24,743

16,507

22,774

750,384

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2024

and 30 November 2025

191,788

DEPRECIATION

At 1 December 2024

4,360

Charge for year

4,360

At 30 November 2025

8,720

NET BOOK VALUE

At 30 November 2025

183,068

At 30 November 2024

187,428

Fair value at 30 November 2025 is represented by:

£

Valuation in 2018

28,202

Valuation in 2023

(20,000

)

Valuation in 2024

14,956

Cost

168,630

191,788

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

168,630

168,630

Investment property was valued on an open market basis on 30 November 2024 by the directors .

6.

STOCKS

2025

2024

£

£

Raw materials

64,524

44,104

Work-in-progress

25,131

-

Finished goods

102,650

119,596

192,305

163,700

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

930,990

849,400

Other debtors

1,257

1,633

Prepayments and accrued income

13,613

19,081

945,860

870,114

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

431,744

494,709

Corporation tax

109,700

117,108

Social security and other taxes

28,066

25,873

VAT

135,321

123,867

Accruals and deferred income

238,667

326,269

943,498

1,087,826

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

26,636

35,304

Between one and five years

14,369

37,531

41,005

72,835

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

154,089

180,506

Deferred

tax

£

Balance at 1 December 2024

180,506

Credit to Income Statement during year

(26,417

)

Balance at 30 November 2025

154,089

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

30/11/24

30/11/23

£

£

100 Ordinary 'A' shares of £1 each

100

100

100 Ordinary 'B' shares of £1 each

100

100

100 Ordinary 'C' shares of £1 each

100

100

1 Ordinary 'D' shares of £1 each

1

1

301

301

12.

RESERVES

Retained earnings

Includes all current and prior retained profits and losses.

Fair value reserve

Includes all current and prior year fair value adjustments to investment property.

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Dean McMullan (Senior Statutory Auditor)

for and on behalf of Allens Accountants Limited

14.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking of the Company is Vista Engineering Ltd, which is controlled by the directors. The smallest and largest group which the company is consolidated is headed by Vista Engineering Ltd. The consolidated accounts of Vista Engineering Ltd are available at Companies House.