REGISTERED NUMBER: 01993508 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026

FOR

JAMES GAUGHAN AND SONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J W Gaughan

SECRETARY:

C Gaughan

REGISTERED OFFICE:

c/o Connaughton & Co

1st Floor

4 Jordan Street

Manchester

M15 4PY

REGISTERED NUMBER:

01993508 (England and Wales)

ACCOUNTANTS:

Connaughton & Co

1st Floor

4 Jordan Street

Manchester

M15 4PY

FIXED ASSETS

Tangible assets

4

94,239

62,947

CURRENT ASSETS

Stocks

50,000

50,000

Debtors

5

53,885

14,517

Cash at bank

158,624

186,442

262,509

250,959

CREDITORS

Amounts falling due within one year

6

75,045

30,662

NET CURRENT ASSETS

187,464

220,297

TOTAL ASSETS LESS CURRENT LIABILITIES

281,703

283,244

PROVISIONS FOR LIABILITIES

7

18,935

11,112

NET ASSETS

262,768

272,132

CAPITAL AND RESERVES

Called up share capital

8

45

45

Capital redemption reserve

9

55

55

Retained earnings

9

262,668

272,032

SHAREHOLDERS' FUNDS

262,768

272,132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 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.

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 1 July 2026 and were signed by:

J W Gaughan - Director

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2025 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 March 2025

18,500

104,682

38,516

Additions

-

18,899

-

At 28 February 2026

18,500

123,581

38,516

DEPRECIATION

At 1 March 2025

-

66,403

33,452

Charge for year

-

7,327

760

At 28 February 2026

-

73,730

34,212

NET BOOK VALUE

At 28 February 2026

18,500

49,851

4,304

At 28 February 2025

18,500

38,279

5,064

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 March 2025

26,134

-

187,832

Additions

22,500

667

42,066

At 28 February 2026

48,634

667

229,898

DEPRECIATION

At 1 March 2025

25,030

-

124,885

Charge for year

2,620

67

10,774

At 28 February 2026

27,650

67

135,659

NET BOOK VALUE

At 28 February 2026

20,984

600

94,239

At 28 February 2025

1,104

-

62,947

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Trade debtors

41,474

9,905

Other debtors

931

-

Prepayments

11,480

4,612

53,885

14,517

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Trade creditors

8,301

11,971

Social security and other taxes

3,741

3,457

VAT

13,420

7,066

Directors' current accounts

38,725

-

Accrued expenses

10,858

8,168

75,045

30,662

7.	PROVISIONS FOR LIABILITIES

28.2.26

28.2.25

£

£

Deferred tax

18,935

11,112

Deferred

tax

£

Balance at 1 March 2025

11,112

Accelerated capital allowances

7,823

Balance at 28 February 2026

18,935

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.26

28.2.25

value:

£

£

45

Ordinary

£1

45

45

9.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 March 2025

272,032

55

272,087

Deficit for the year

(9,364

)

(9,364

)

At 28 February 2026

262,668

55

262,723