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REGISTERED NUMBER: 06717639 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Goom Electrical Limited

Goom Electrical Limited (Registered number: 06717639)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Goom Electrical Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr P M Goom
Ms Y L Chan





REGISTERED OFFICE: Unit 24 Hertfordshire Business Centre
Alexandra Road
London Colney
St Albans
Hertfordshire
AL2 1JG





REGISTERED NUMBER: 06717639 (England and Wales)





ACCOUNTANTS: Visionary Accountants
2 Adelaide Street
St Albans
Hertfordshire
AL3 5BH

Goom Electrical Limited (Registered number: 06717639)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,941 50,072

CURRENT ASSETS
Stocks 132,893 243,236
Debtors 5 716,195 466,955
Cash at bank 203,373 157,531
1,052,461 867,722
CREDITORS
Amounts falling due within one year 6 776,274 538,259
NET CURRENT ASSETS 276,187 329,463
TOTAL ASSETS LESS CURRENT
LIABILITIES

335,128

379,535

CREDITORS
Amounts falling due after more than one year 7 22,733 33,449
NET ASSETS 312,395 346,086

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 312,295 345,986
312,395 346,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Goom Electrical Limited (Registered number: 06717639)

Balance Sheet - continued
31 October 2023


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 31 July 2024 and were signed on its behalf by:





Mr P M Goom - Director


Goom Electrical Limited (Registered number: 06717639)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Goom Electrical 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.

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% straight line
Fixtures and fittings- 20% straight line
Motor vehicles- 20% straight line
Computer equipment- 33% straight line

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 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.

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.

Goom Electrical Limited (Registered number: 06717639)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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.

Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The
aggregate benefit of lease incentives is recognised as a reduction to expense over the lease
term, on a straight-line basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 26 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 74,070
Additions 32,251
At 31 October 2023 106,321
DEPRECIATION
At 1 November 2022 23,998
Charge for year 23,382
At 31 October 2023 47,380
NET BOOK VALUE
At 31 October 2023 58,941
At 31 October 2022 50,072

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 432,358 379,602
Other debtors 283,837 87,353
716,195 466,955

Goom Electrical Limited (Registered number: 06717639)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,656 10,950
Trade creditors 320,320 272,998
Taxation and social security 131,623 10,880
Other creditors 313,675 243,431
776,274 538,259

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 22,733 33,449

8. RELATED PARTY DISCLOSURES

At the balance sheet date the directors had the following loans outstanding with the company:

- The company owed Y Chan £200,000 (2022: £200,000)
- P Goom owed the company £71,677 (2022: £9,975)

These loans are unsecured, interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P M Goom.