Registration number:
Guardian Industrial (UK) Limited
for the Period from 1 May 2021 to 31 October 2022
Guardian Industrial (UK) Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Guardian Industrial (UK) Limited
Company Information
Director |
Mr MSW Phillips |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Guardian Industrial (UK) Limited
for the Period Ended 31 October 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Guardian Industrial (UK) Limited for the period ended 31 October 2022 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Guardian Industrial (UK) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Guardian Industrial (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Guardian Industrial (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Guardian Industrial (UK) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Guardian Industrial (UK) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Guardian Industrial (UK) Limited. You consider that Guardian Industrial (UK) Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Guardian Industrial (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
Guardian Industrial (UK) Limited
(Registration number: 05418055)
Balance Sheet as at 31 October 2022
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2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
(732,890) |
140,237 |
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Shareholders' (deficit)/funds |
(732,889) |
140,238 |
Guardian Industrial (UK) Limited
(Registration number: 05418055)
Balance Sheet as at 31 October 2022
For the financial period ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Mr MSW Phillips
Director
Guardian Industrial (UK) Limited
Notes to the Unaudited Financial Statements for the Period from 1 May 2021 to 31 October 2022
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
The principal place of business is:
271 Embankment Road
Plymouth
PL4 9JH
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared using the historic cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
At the period end, the company's balance sheet shows net current liabilities and of £718,104 and an overall deficiency of assets of £732,889. Accordingly, the director has to consider the basis upon which the accounts should be prepared and determine whether a going concern basis remains appropriate.
The accounts for the period are showing a loss due to cost over runs on previous projects, which were impacted by the coronovirus and the subsequent lockdowns.
Since the period end, the company has secured funding and commenced further projects which are expected to provide the company with the working capital it needs to continue. The company has also agreed repayments plans with HMRC to assist with this.
Also, since the period end, the director has continued to provide financial support, when necessary to the company. The director has also reviewed the position for twelve months from the date the accounts were approved and in his opinion, the company will reduce the balance sheet deficiency and will show positive results in the future.
Due to the factors explained above, the director considers that the going concern basis remains appropriate.
Guardian Industrial (UK) Limited
Notes to the Unaudited Financial Statements for the Period from 1 May 2021 to 31 October 2022
Government grants
Government grants received, are credited to the trading results as other operating income, in the period to which the related expenditure has been expensed.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tax for the year includes adjustments made in respect of tax due for the current and previous years in respect of Research and Development claims made.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
20% reducing balance |
Plant and machinery |
20% reducing balance |
Work in progress
Work in progress comprises direct costs, where applicable, and those overheads that have been incurred in bringing the inventories to their present state and condition. At each reporting date, work in progress is assessed for impairment. If workm in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Guardian Industrial (UK) Limited
Notes to the Unaudited Financial Statements for the Period from 1 May 2021 to 31 October 2022
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Guardian Industrial (UK) Limited
Notes to the Unaudited Financial Statements for the Period from 1 May 2021 to 31 October 2022
Tangible assets |
Fixtures and fittings |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 May 2021 |
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At 31 October 2022 |
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Depreciation |
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At 1 May 2021 |
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Charge for the period |
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At 31 October 2022 |
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Carrying amount |
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At 31 October 2022 |
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At 30 April 2021 |
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Stocks |
2022 |
2021 |
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Work in progress |
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Other inventories |
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Debtors |
2022 |
2021 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Guardian Industrial (UK) Limited
Notes to the Unaudited Financial Statements for the Period from 1 May 2021 to 31 October 2022
Creditors |
Creditors: amounts falling due within one year
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2022 |
2021 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2022 |
2021 |
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Due after one year |
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Loans and borrowings |
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