GARRETS INTERNATIONAL LIMITED

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -24.6%

  £28,628,243 → £21,580,324

• Cash

  —

  Not reported

• Net assets

  +10.3%

  £5,259,774 → £5,803,992

• Employees

  +10.5%

  19 → 21

• Operating profit

  +243.7%

  -£208,567 → £299,768

• Profit before tax

  +34.5%

  £420,124 → £565,149

• Wages

  +14%

  £1,527,248 → £1,741,048

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. GARRETS INTERNATIONAL LIMITED 2009-04-08 → present
2. GARRETS MARINE SERVICES LIMITED 1993-05-19 → 2009-04-08

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company is profitable and cash-generative in the financial year ending 31 December 2024 and is financed solely by cash from operations with no external debt. The company is part of a cash pooling arrangement with Group and has access to a Group Treasury function, however, this is not utilised given the strong intercompany receivable of the balance sheet. In addition to the strong cash position, on 20 June 2025 the parent company has confirmed it will provide working capital support if required to the Company to meet its liabilities as they fall due during the 12 month period from the date of signing the financial statements. The directors considered the ability and intent of the parent company to provide support. In this regard, the directors are satisfied the parent company has adequate capacity to provide support and will provide the support when required. The directors, therefore, consider there to be adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements and therefore continue to adopt the going concern basis in preparing the annual financial statements.”

Significant events

• “Whilst 2024 was a challenging year due to high inflation, which is causing macro-economic risks, the Directors consider that the company has delivered strong financial performance from its core operations in both operating profit and cash flow generation terms.”
• “Throughout 2024, global trade was severely affected by significant global food price inflation.”
• “The Wrist Group have taken a stand in regards to the Russia/Ukraine conflict, deciding to have no interaction with either Russian customers or suppliers. This has had no material impact to the Garrets business.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.