Registration number: 06320389

GMEC Electrical Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

GMEC Electrical Limited

Company Information

Directors

Mr Marcus Patrick Hearn Mr Graham Michael Wray

Registered office

58 Cross Street Northam Bideford Devon EX39 1BX

Accountants

Ward and Co Chartered Accountants West Penhill Farm Fremington Barnstaple Devon EX31 2NG

GMEC Electrical Limited

(Registration number: 06320389)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	61,639	81,287
Current assets
Stock	5	950	800
Debtors	6	184,528	109,620
Cash at bank and in hand		78,398	136,363
		263,876	246,783
Creditors: Amounts falling due within one year	7	(174,673)	(146,033)
Net current assets		89,203	100,750
Net assets		150,842	182,037
Capital and reserves
Called up share capital	8	100	100
Retained earnings		150,742	181,937
Shareholders' funds		150,842	182,037

For the financial year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and 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 Board on 20 April 2026 and signed on its behalf by:
 

......................................... Mr Marcus Patrick Hearn Director

......................................... Mr Graham Michael Wray Director

GMEC Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
58 Cross Street
Northam
Bideford
Devon
EX39 1BX

These financial statements were authorised for issue by the Board on 20 April 2026.

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.

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.

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.

GMEC Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

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
Plant and machinery	8 years straight line
Motor vehicles	6 year straight line

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 customers for merchandise sold 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.

Stock

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stock are impaired , the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is regcognised immediately in profit or loss.

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.

GMEC Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 10).

GMEC Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 August 2024	8,439	147,426	155,865
At 31 July 2025	8,439	147,426	155,865
Depreciation
At 1 August 2024	4,051	70,527	74,578
Charge for the year	858	18,790	19,648
At 31 July 2025	4,909	89,317	94,226
Carrying amount
At 31 July 2025	3,530	58,109	61,639
At 31 July 2024	4,388	76,899	81,287

5

Stock

	2025 £	2024 £
Other inventories	950	800

6

Debtors

Current	2025 £	2024 £
Trade debtors	170,893	79,065
Prepayments	5,696	5,506
Other debtors	7,939	25,049
	184,528	109,620

GMEC Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	120,843	72,553
Taxation and social security	15,802	37,891
Accruals and deferred income	2,050	1,250
Other creditors	35,978	34,339
	174,673	146,033

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

9

Dividends

		2025		2024
		£		£
Interim dividend of £52,000.00 (2024 - £62,000.00) per ordinary share		52,000		62,000

10	Related party transactions

GMEC Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	24,777	25,038
Contributions paid to money purchase schemes	3,000	-
	27,777	25,038