Registration number: 00982287

Gough Electrical and Mechanical Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

Gough Electrical and Mechanical Limited

Company Information

Director

S J Homer

Registered office

9 Harewood Close, Sandiacre, Nottingham, NG10 5PL

Bankers

Barclays Bank plc Leicester Leicestershire LE87 2BB

Accountants

Paul M Tremayne Chartered Accountant 23 Vicarage Lane, Water Orton, Birmingham, Warwickshire B46 1RY.

Gough Electrical and Mechanical Limited

(Registration number: 00982287)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Investment properties	5	904,945	904,945
Current assets
Debtors	6	19,539	33,393
Cash at bank and in hand		85,232	105,545
		104,771	138,938
Creditors: Amounts falling due within one year	7	(548,413)	(621,910)
Net current liabilities		(443,642)	(482,972)
Total assets less current liabilities		461,303	421,973
Provisions for liabilities		(45,339)	(45,339)
Net assets		415,964	376,634
Capital and reserves
Called up share capital	8	5,000	5,000
Revaluation reserve		250,255	250,255
Profit and loss account		160,709	121,379
Total equity		415,964	376,634

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 September 2025
 

......................................... S J Homer Director

Gough Electrical and Mechanical Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England & Wales. The company's registration number is 00982287.

The address of its registered office is:
9 Harewood Close,
Sandiacre,
Nottingham,
NG10 5PL

These financial statements were authorised for issue by the director on 27 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Gough Electrical and Mechanical Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% Straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate reviewed annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from tenants for rents due or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Gough Electrical and Mechanical Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year,
was 1 (2023 - 2).

Gough Electrical and Mechanical Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

4	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 January 2024	507	507
At 31 December 2024	507	507
Depreciation
At 1 January 2024	507	507
At 31 December 2024	507	507
Carrying amount
At 31 December 2024	-	-

5	Investment properties

	2024 £
At 1 January 2024	904,945
At 31 December 2024	904,945

Investment properties include both commercial and residential properties. The freehold commercial investment properties were valued by Messrs Burley Browne, Chartered Surveyors on 27th July 2020. The residential property was purchased on 20th May 2022. The directors believe that this represents the open market value of the properties at the year end.

6

Debtors

Current	2024 £	2023 £
Trade debtors	17,892	32,147
Prepayments	1,647	1,246
	19,539	33,393

Gough Electrical and Mechanical Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Trade creditors	4,250	4
Loans and borrowings	42,059	82,124
Taxation and social security	6,982	8,204
Other creditors	465,055	491,077
Accrued expenses	19,067	29,948
Corporation tax	11,000	10,553
	548,413	621,910

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary share of £1 each	5,000	5,000	5,000	5,000

9

Dividends

Interim dividends paid

		2024 £		2023 £
Interim dividend of £0.94 per each Ordinary share		4,700		4,700

10	Related party transactions

Transactions with the director

Dividends paid to the director

		2024 £		2023 £
P R Gough
Interim dividend		-		996
S J Homer
Interim dividend		996		996