REGISTERED NUMBER: 02604976 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

A.E.Vaughan & Co Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R E Gillman

Mrs M Y Gillman

SECRETARY:

Mrs L A Heath

REGISTERED OFFICE:

197 Blackshaw Road

Tooting

London

WC1N 3GS

REGISTERED NUMBER:

02604976 (England and Wales)

FIXED ASSETS

Tangible assets

4

31,448

46,887

Investments

5

-

186

31,448

47,073

CURRENT ASSETS

Stocks

6

79,690

67,863

Debtors

7

123,541

154,842

Cash at bank

62,403

105,579

265,634

328,284

CREDITORS

Amounts falling due within one year

8

313,970

300,287

NET CURRENT (LIABILITIES)/ASSETS

(48,336

)

27,997

TOTAL ASSETS LESS CURRENT LIABILITIES

(16,888

)

75,070

PROVISIONS FOR LIABILITIES

9

6,350

8,518

NET (LIABILITIES)/ASSETS

(23,238

)

66,552

CAPITAL AND RESERVES

Called up share capital

10

250

250

Capital redemption reserve

11

250

250

Retained earnings

11

(23,738

)

66,052

SHAREHOLDERS' FUNDS

(23,238

)

66,552

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 November 2025 and were signed on its behalf by:

R E Gillman - Director

1.	STATUTORY INFORMATION

A.E.Vaughan & Co 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain

critical accounting estimates. It also requires management to exercise judgment in applying the

Company's accounting policies.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the

Company and the revenue can be reliably measured. Revenue is measured as the fair value of the

consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

-

the Company has transferred the significant risks and rewards of ownership to the buyer;

-

the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

-

the amount of revenue can be measured reliably;

-

it is probable that the Company will receive the consideration due under the transaction; and

-

the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are

provided in accordance with the stage of completion of the contract when all of the following

conditions are satisfied:

-

The amount of turnover can be measured reliably;

-

It is probable that the Company will receive the consideration due under the contract;

-

The stage of completion of the contract at the end of the reporting period can be measured reliably; and

-

The costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated

depreciation and any accumulated impairment losses. Historical cost includes expenditure that is

directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such

indication exists, the recoverable amount of the asset is determined which is the higher of its fair

value less costs to sell and its value in use. An impairment loss is recognised where the carrying

amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their

estimated useful lives, using the depreciation methods stated below.

Depreciation is provided on the following basis:

Property Improvement - 20% straight line basis

Plant and machinery - 25% reducing balance basis

Motor vehicles - 25% reducing balance basis

Fixtures and fittings - 25% reducing balance basis

Computer equipment - 33.3% straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted

prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Financial instruments

The Company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements,

when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially

measured at their transaction price (adjusted for transaction costs except in the initial measurement

of financial assets that are subsequently measured at fair value through profit and loss) and are

subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is

measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash

equivalents, trade and most other debtors due with the operating cycle fall into this category of

financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for

objective evidence of impairment. If an asset is impaired the impairment loss is the difference

between the carrying amount and the present value of the estimated cash flows discounted at the

asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the

estimated future cash flows derived from the financial asset(s) have been adversely impacted. The

impairment loss will be the difference between the current carrying amount and the present value of

the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the

impairment can be reviewed for possible reversal. The reversal will not cause the current carrying

amount to exceed the original carrying amount had the impairment not been recognised. The

impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are

initially measured at their transaction price (adjusting for transaction costs except in the initial

measurement of financial liabilities that are subsequently measured at fair value through profit and

loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the

present value of the future payments discounted at a market rate of interest, discounting is omitted

where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate

method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss

except that a charge attributable to an item of income and expense recognised as other

comprehensive income or to an item recognised directly in equity is also recognised in other

comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been

enacted or substantively enacted by the balance sheet date in the countries where the Company

operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax

allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of

business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash at bank

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank

loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 April 2024

and 31 March 2025

31,967

41,358

38,818

DEPRECIATION

At 1 April 2024

21,215

33,532

22,106

Charge for year

6,393

1,967

4,180

At 31 March 2025

27,608

35,499

26,286

NET BOOK VALUE

At 31 March 2025

4,359

5,859

12,532

At 31 March 2024

10,752

7,826

16,712

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

18,833

5,135

136,111

DEPRECIATION

At 1 April 2024

7,236

5,135

89,224

Charge for year

2,899

-

15,439

At 31 March 2025

10,135

5,135

104,663

NET BOOK VALUE

At 31 March 2025

8,698

-

31,448

At 31 March 2024

11,597

-

46,887

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 April 2024

and 31 March 2025

186

PROVISIONS

Provision for year

186

At 31 March 2025

186

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

186

Investments held as fixed assets are shown at cost less a provision for impairment where necessary.

6.

STOCKS

2025

2024

£

£

Stocks

52,614

56,798

Work-in-progress

27,076

11,065

79,690

67,863

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

46,473

117,071

Amounts owed by group undertakings

-

6,646

Other debtors

244

-

VAT

48,253

-

Prepayments and accrued income

28,571

31,125

123,541

154,842

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

19,233

12,138

Amounts owed to group undertakings

98,784

37,633

Corporation tax

-

4,825

Social security and other taxes

12,530

16,370

VAT

-

43,174

Other creditors

174,996

172,266

Accruals and deferred income

8,427

13,881

313,970

300,287

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

6,350

8,518

Deferred

tax

£

Balance at 1 April 2024

8,518

Credit to Income Statement during year

(2,168

)

Balance at 31 March 2025

6,350

Provisions are recognised when an event has taken place that gives rise to a legal or constructive

obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking

into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

250

Ordinary Shares

1

250

250

11.

RESERVES

Capital redemption reserve

The capital redemption reserve is a non-distributable reserve and represents paid up share capital.

Profit and loss account

This reserve records the retained earnings of the company as at the balance sheet date.

12.	PENSION COMMITMENTS

The Company operates a defined contribution plan for its employees. A defined contribution plan is a

pension plan under which the Company pays fixed contributions into a separate entity. Once the

contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid

are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately

from the Company in independently administered funds.

13.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary company of Oliver Garratt Ltd.