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REGISTERED NUMBER: 06564181 (England and Wales)















Gough Electrical Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Gough Electrical Limited (Registered number: 06564181)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gough Electrical Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr PJ Gough
Mrs AE Gough





REGISTERED OFFICE: 8 Lon Y Wylan
Belgrano
Abergele
Conwy
LL22 9YJ





REGISTERED NUMBER: 06564181 (England and Wales)





ACCOUNTANTS: Pritchett & Co
Chartered Accountants and Chartered Tax Advisers
16 Wynnstay Road
Colwyn Bay
Conwy
LL29 8NB

Gough Electrical Limited (Registered number: 06564181)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,671 18,142

CURRENT ASSETS
Stocks 50,550 50,550
Debtors 5 80,512 84,569
Cash at bank and in hand 211,095 188,283
342,157 323,402
CREDITORS
Amounts falling due within one year 6 171,035 96,980
NET CURRENT ASSETS 171,122 226,422
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,793

244,564

CREDITORS
Amounts falling due after more than
one year

7

(7,001

)

(13,135

)

PROVISIONS FOR LIABILITIES (6,417 ) (4,535 )
NET ASSETS 183,375 226,894

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 183,373 226,892
183,375 226,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Gough Electrical Limited (Registered number: 06564181)

Balance Sheet - continued
31 March 2024


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 15 October 2024 and were signed on its behalf by:




Mr PJ Gough - Director



Mrs AE Gough - Director


Gough Electrical Limited (Registered number: 06564181)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Gough 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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office Equip - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Gough Electrical Limited (Registered number: 06564181)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Office
fittings vehicles Equip Totals
£    £    £    £   
COST
At 1 April 2023 47,957 22,350 20,099 90,406
Additions - 14,950 - 14,950
Disposals - (10,050 ) - (10,050 )
At 31 March 2024 47,957 27,250 20,099 95,306
DEPRECIATION
At 1 April 2023 40,153 18,089 14,022 72,264
Charge for year 1,955 2,599 1,525 6,079
Eliminated on disposal - (8,708 ) - (8,708 )
At 31 March 2024 42,108 11,980 15,547 69,635
NET BOOK VALUE
At 31 March 2024 5,849 15,270 4,552 25,671
At 31 March 2023 7,804 4,261 6,077 18,142

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 79,356 83,620
Other debtors 1,156 949
80,512 84,569

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 6,000 6,000
Trade creditors 69,255 61,180
Taxation and social security 33,162 24,726
Other creditors 62,618 5,074
171,035 96,980

Gough Electrical Limited (Registered number: 06564181)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans 7,001 13,135