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Registration number: 02530834

G & D Higgins Mechanical Services Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 October 2025

G & D Higgins Mechanical Services Ltd

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 12

G & D Higgins Mechanical Services Ltd

Company Information

Directors | Mrs Linda Rose Higgins Mr Nathan David Higgins Mr David Higgins

Company secretary | Mr David Higgins

Registered office | MG Group 3rd Floor 166 College Road Harrow Middlesex England HA1 1BH

Accountants | MG Group (Professional Services) Limited Chartered Accountants166 College Road Harrow Middlesex HA1 1BH

G & D Higgins Mechanical Services Ltd

(Registration number: 02530834)
Balance Sheet as at 31 October 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 6 | 505,136 | 496,509
Current assets |  |  |
Stocks | 7 | 1,388,872 | 1,103,462
Debtors | 8 | 1,227,923 | 733,320
Cash at bank and in hand |  | 57,141 | 101,813
|  | 2,673,936 | 1,938,595
Creditors: Amounts falling due within one year | 9 | (1,954,533) | (1,071,474)
Net current assets |  | 719,403 | 867,121
Total assets less current liabilities |  | 1,224,539 | 1,363,630
Creditors: Amounts falling due after more than one year | 9 | (28,111) | (26,689)
Provisions for liabilities |  | (65,751) | (63,034)
Net assets |  | 1,130,677 | 1,273,907
Capital and reserves |  |  |
Called up share capital | 13 | 100 | 100
Revaluation reserve |  | 263,412 | 263,412
Retained earnings |  | 867,165 | 1,010,395
Shareholders' funds |  | 1,130,677 | 1,273,907

For the financial year ending 31 October 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 22 July 2026 and signed on its behalf by:

G & D Higgins Mechanical Services Ltd

(Registration number: 02530834)
Balance Sheet as at 31 October 2025

......................................... Mr David Higgins Company secretary and director

G & D Higgins Mechanical Services Ltd

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

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
MG Group
3rd Floor
166 College Road
Harrow
Middlesex
HA1 1BH
England

These financial statements were authorised for issue by the Board on 22 July 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.

Going concern

The Directors have carefully considered the impact of existing trade conditions on the company's financial position, liquidity and future performance and irrespective of the problems that may have been caused by the existing trade conditions, as set out in the Director's Report, the Directors believe that it is well places to manage its business risks successfully. Where further resources are required, the directors are prepared to provide these.
Accordingly at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

G & D Higgins Mechanical Services Ltd

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

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods..

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.

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
Buildings | 2% on cost
Motor Vehicles | 20% Straight Line Method
Office Equipment | Straight Line for 3 years
Furniture and Fittings | 10% or 33.33% Straight Line

Impairment of Fixed Assets:
At each reporting period end date, the company reviews the carrying amounts of its tangible assets and investments to determine whether there is any indication that thoe assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

G & D Higgins Mechanical Services Ltd

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

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
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 stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

G & D Higgins Mechanical Services Ltd

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

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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 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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2024 - 18).

G & D Higgins Mechanical Services Ltd

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

4 | Pension and other schemes

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal 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.

5 | Taxation

Tax charged/(credited) in the profit and loss account

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax adjustment to prior periods | - | (4,723)
Deferred taxation |  |
Arising from origination and reversal of timing differences | 2,717 | (660)
Tax expense/(receipt) in the income statement | 2,717 | (5,383)

Deferred tax

Deferred tax assets and liabilities

2025 | Asset £ | Liability £
Accelerated tax depreciation | - | 14,751
Revaluation of investment property | - | 51,000
| - | 65,751

2024 | Asset £ | Liability £
Accelerated tax depreciation | - | 12,034
Revaluation of investment property | - | 51,000
| - | 63,034

G & D Higgins Mechanical Services Ltd

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

6 | Tangible assets

| Land and buildings £ | Fixtures and fittings £ | Office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 November 2024 | 467,111 | 61,292 | 17,962 | 241,041 | 787,406
Additions | - | - | 20,000 | 41,237 | 61,237
Disposals | - | - | - | (20,343) | (20,343)
At 31 October 2025 | 467,111 | 61,292 | 37,962 | 261,935 | 828,300
Depreciation
At 1 November 2024 | 47,802 | 61,226 | 17,956 | 163,913 | 290,897
Charge for the year | 4,842 | - | 6,667 | 28,255 | 39,764
Eliminated on disposal | - | - | - | (7,497) | (7,497)
At 31 October 2025 | 52,644 | 61,226 | 24,623 | 184,671 | 323,164
Carrying amount
At 31 October 2025 | 414,467 | 66 | 13,339 | 77,264 | 505,136
At 31 October 2024 | 419,309 | 66 | 6 | 77,128 | 496,509

At the reporting date, motor vehicles with a net book value of £73,473 (2024: £47,522) were subject to hire purchase agreements and are included within the total net book value of motor vehicles shown in the accounts. Depreciation charged for the year on these assets were £16,227 (2024: £9,889).

7 | Stocks

| 2025 £ | 2024 £
Work in progress | 1,268,872 | 993,362
Other inventories | 120,000 | 110,100
| 1,388,872 | 1,103,462

There is no material difference between the replacement cost of stocks and their balance sheet amounts.

G & D Higgins Mechanical Services Ltd

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

8 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 1,173,211 | 686,764
Amounts owed by related parties | 12 | 38,827 | 28,827
Prepayments |  | 15,885 | 17,725
Other debtors |  | - | 4
|  | 1,227,923 | 733,320

G & D Higgins Mechanical Services Ltd

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

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 10 | 273,351 | 376,317
Trade creditors |  | 1,199,425 | 494,849
Taxation and social security |  | 431,995 | 131,265
Accruals and deferred income |  | 36,352 | 65,571
Other creditors |  | 13,410 | 3,472
|  | 1,954,533 | 1,071,474

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 10 | 28,111 | 26,689

10 | Loans and borrowings

| 2025 £ | 2024 £
Non-current loans and borrowings
HP and finance lease liability 1 (1-2 yrs) | 17,902 | 18,123
HP and finance lease liability 1 (2-5 yrs) | 10,209 | 8,566
| 28,111 | 26,689

Current loans and borrowings

| 2025 £ | 2024 £
Bank overdrafts | 242,647 | 354,464
HP and finance lease liability 1 (under 1yr) | 30,704 | 21,853
| 273,351 | 376,317

The hire purchase agreements are secured on the assets acquired.
The bank overdraft is secured on the land and buildings owned by the company.

G & D Higgins Mechanical Services Ltd

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

11 | Dividends

Interim dividends paid

|  | 2025 £ |  | 2024 £
Interim dividend of 600.00 (2024 - 822.00) per each Ordinary Shares |  | 60,000 |  | 82,200

12 | Related party transactions

At the balance sheet date, the company owed its directors £9,996 (2024: £4 was owed by its directors). These loans are unsecured, interest free and repayable on demand.

13 | Share capital

Allotted, called up and fully paid shares

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

Allotted, called up and fully paid shares

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