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REGISTERED NUMBER: 00389243















GOUGH & PARTNERS LIMITED

Unaudited Financial Statements for the Year Ended 30 September 2024






GOUGH & PARTNERS LIMITED (REGISTERED NUMBER: 00389243)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

GOUGH & PARTNERS LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mrs S Gough
C Gough
G Moon





SECRETARY: Mrs S Gough





REGISTERED OFFICE: Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB





REGISTERED NUMBER: 00389243





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

GOUGH & PARTNERS LIMITED (REGISTERED NUMBER: 00389243)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 610 868
Investment property 4 1,276,008 1,276,008
1,276,618 1,276,876

CURRENT ASSETS
Debtors 5 8,344 1,333
Cash at bank 182,404 169,230
190,748 170,563
CREDITORS
Amounts falling due within one year 6 70,070 76,604
NET CURRENT ASSETS 120,678 93,959
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,397,296

1,370,835

PROVISIONS FOR LIABILITIES 76,270 76,270
NET ASSETS 1,321,026 1,294,565

CAPITAL AND RESERVES
Called up share capital 7 25,000 25,000
Fair value reserve 8 690,030 690,030
Retained earnings 605,996 579,535
SHAREHOLDERS' FUNDS 1,321,026 1,294,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 & PARTNERS LIMITED (REGISTERED NUMBER: 00389243)

Balance Sheet - continued
30 September 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 3 February 2025 and were signed on its behalf by:





Mrs S Gough - Director


GOUGH & PARTNERS LIMITED (REGISTERED NUMBER: 00389243)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. 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 as modified by the revaluation of certain assets.

The Presentational currency is £ Sterling.

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 - 25% on reducing balance
Computer equipment - 25% Straight Line

Investment property
In accordance with Statement of Standard Accounting Practice No. 19 investment properties are revalued annually and the aggregate surplus is transferred to the investment revaluation reserve. No depreciation is provided on freehold investment properties. These properties are maintained in a state of good repair and accordingly the directors consider that the lives of these assets are so long and residual values are so high that any depreciation charge to the profit and loss account would be insignificant.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changed recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

GOUGH & PARTNERS LIMITED (REGISTERED NUMBER: 00389243)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


3. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 499 1,309 1,808
DEPRECIATION
At 1 October 2023 62 878 940
Charge for year 125 133 258
At 30 September 2024 187 1,011 1,198
NET BOOK VALUE
At 30 September 2024 312 298 610
At 30 September 2023 437 431 868

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 1,276,008
NET BOOK VALUE
At 30 September 2024 1,276,008
At 30 September 2023 1,276,008

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2010 147,223
Valuation in 2014 231,777
Valuation in 2016 157,300
Valuation in 2017 81,915
Valuation in 2019 23,085
Valuation in 2020 50,000
Valuation in 2021 25,000
Valuation in 2022 50,000
Valuation in 2023 296,008
Cost 213,700
1,276,008

GOUGH & PARTNERS LIMITED (REGISTERED NUMBER: 00389243)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 6,793 -
Prepayments & accrued income 1,551 1,333
8,344 1,333

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Social security and other taxes 8,252 8,562
Other creditors 7,168 5,535
Directors' current accounts 50,534 58,659
Accrued expenses 4,116 3,848
70,070 76,604

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
25,000 Ordinary £1 25,000 25,000

8. RESERVES
Fair
value
reserve
£   
At 1 October 2023
and 30 September 2024 690,030

9. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of the directors.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Gough & Partners Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gough & Partners Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Gough & Partners Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gough & Partners Limited and state those matters that we have agreed to state to the Board of Directors of Gough & Partners Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gough & Partners Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gough & Partners Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gough & Partners Limited. You consider that Gough & Partners Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gough & Partners 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 financial statements.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


10 February 2025