REGISTERED NUMBER: 03619541 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

GAP METAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G J Parkes

Mrs N J Parkes

D Axell

J Pettigrew

SECRETARY:

G J Parkes

REGISTERED OFFICE:

Gap House

21-23 Apex Park

Hailsham

East Sussex

BN27 3JU

REGISTERED NUMBER:

03619541 (England and Wales)

ACCOUNTANTS:

Aequitas Limited

Sussex Barn

New Road

Hellingly

Hailsham

East Sussex

BN27 4EW

FIXED ASSETS

Intangible assets

4

100,000

150,000

Tangible assets

5

1,178,686

1,353,799

1,278,686

1,503,799

CURRENT ASSETS

Stocks

97,709

41,650

Debtors

6

1,095,182

867,471

Cash at bank and in hand

3,188,507

3,319,294

4,381,398

4,228,415

CREDITORS

Amounts falling due within one year

7

827,043

746,304

NET CURRENT ASSETS

3,554,355

3,482,111

TOTAL ASSETS LESS CURRENT LIABILITIES

4,833,041

4,985,910

CREDITORS

Amounts falling due after more than one year

8

44,800

121,600

NET ASSETS

4,788,241

4,864,310

CAPITAL AND RESERVES

Called up share capital

242

242

Retained earnings

4,787,999

4,864,068

SHAREHOLDERS' FUNDS

4,788,241

4,864,310

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2026 and were signed on its behalf by:

G J Parkes - Director

1.	STATUTORY INFORMATION

GAP Metal 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

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

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2025 - 40 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

1,000,000

AMORTISATION

At 1 April 2025

850,000

Charge for year

50,000

At 31 March 2026

900,000

NET BOOK VALUE

At 31 March 2026

100,000

At 31 March 2025

150,000

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2025

and 31 March 2026

249,907

2,917,482

297,736

DEPRECIATION

At 1 April 2025

-

2,037,126

136,330

Charge for year

-

132,054

24,211

At 31 March 2026

-

2,169,180

160,541

NET BOOK VALUE

At 31 March 2026

249,907

748,302

137,195

At 31 March 2025

249,907

880,356

161,406

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2025

and 31 March 2026

194,433

19,890

3,679,448

DEPRECIATION

At 1 April 2025

145,563

6,630

2,325,649

Charge for year

12,218

6,630

175,113

At 31 March 2026

157,781

13,260

2,500,762

NET BOOK VALUE

At 31 March 2026

36,652

6,630

1,178,686

At 31 March 2025

48,870

13,260

1,353,799

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

1,080,000

844,322

Other debtors

15,182

23,149

1,095,182

867,471

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Hire purchase contracts

76,800

76,800

Trade creditors

437,162

318,205

Taxation and social security

307,567

345,691

Other creditors

5,514

5,608

827,043

746,304

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Hire purchase contracts

44,800

121,600