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REGISTERED NUMBER: 01993508 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

JAMES GAUGHAN AND SONS LIMITED

JAMES GAUGHAN AND SONS LIMITED (REGISTERED NUMBER: 01993508)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAMES GAUGHAN AND SONS LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2025







DIRECTOR: J W Gaughan





SECRETARY: C Gaughan





REGISTERED OFFICE: c/o Connaughton & Co
2nd Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY





REGISTERED NUMBER: 01993508 (England and Wales)





ACCOUNTANTS: Connaughton & Co
2nd Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY

JAMES GAUGHAN AND SONS LIMITED (REGISTERED NUMBER: 01993508)

BALANCE SHEET
28 February 2025

28.2.25 29.2.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 62,947 55,435

CURRENT ASSETS
Stocks 50,000 50,000
Debtors 5 14,517 34,424
Cash at bank 186,442 368,658
250,959 453,082
CREDITORS
Amounts falling due within one year 6 30,662 74,350
NET CURRENT ASSETS 220,297 378,732
TOTAL ASSETS LESS CURRENT
LIABILITIES

283,244

434,167

PROVISIONS FOR LIABILITIES 7 11,112 9,234
NET ASSETS 272,132 424,933

CAPITAL AND RESERVES
Called up share capital 8 45 100
Capital redemption reserve 9 55 -
Retained earnings 9 272,032 424,833
SHAREHOLDERS' FUNDS 272,132 424,933

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

JAMES GAUGHAN AND SONS LIMITED (REGISTERED NUMBER: 01993508)

BALANCE SHEET - continued
28 February 2025


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 director and authorised for issue on 2 May 2025 and were signed by:





J W Gaughan - Director


JAMES GAUGHAN AND SONS LIMITED (REGISTERED NUMBER: 01993508)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2025

1. STATUTORY INFORMATION

James Gaughan and Sons 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% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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.

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.

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.

JAMES GAUGHAN AND SONS LIMITED (REGISTERED NUMBER: 01993508)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2024 18,500 89,153 38,516 26,134 172,303
Additions - 15,529 - - 15,529
At 28 February 2025 18,500 104,682 38,516 26,134 187,832
DEPRECIATION
At 1 March 2024 - 59,648 32,558 24,662 116,868
Charge for year - 6,755 894 368 8,017
At 28 February 2025 - 66,403 33,452 25,030 124,885
NET BOOK VALUE
At 28 February 2025 18,500 38,279 5,064 1,104 62,947
At 29 February 2024 18,500 29,505 5,958 1,472 55,435

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Trade debtors 9,905 27,153
Tax - 2,792
Prepayments 4,612 4,479
14,517 34,424

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Trade creditors 11,971 11,094
Social security and other taxes 3,457 3,030
VAT 7,066 6,897
Directors' current accounts - 46,049
Accrued expenses 8,168 7,280
30,662 74,350

7. PROVISIONS FOR LIABILITIES
28.2.25 29.2.24
£    £   
Deferred tax 11,112 9,234

JAMES GAUGHAN AND SONS LIMITED (REGISTERED NUMBER: 01993508)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2025

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2024 9,234
Accelerated capital allowances 1,878
Balance at 28 February 2025 11,112

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.25 29.2.24
value: £    £   
45 Ordinary £1 45 100

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 March 2024 424,833 - 424,833
Deficit for the year (15,301 ) (15,301 )
Purchase of own shares (137,500 ) 55 (137,445 )
At 28 February 2025 272,032 55 272,087