Gormec Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06412590

GORMEC LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 January 2026

GORMEC LIMITED

STATEMENT OF FINANCIAL POSITION

31 January 2026

	2026		2025
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6		16,648		24,584

CURRENT ASSETS

Debtors	7	42,321	31,028
Cash at bank and in hand		64,563	59,575
		----------	---------
		106,884	90,603

CREDITORS: amounts falling due within one year	8	28,045		24,571
		----------		---------
NET CURRENT ASSETS			78,839		66,032
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			95,487		90,616

PROVISIONS	9	5,206	6,146
		---------	---------
NET ASSETS		90,281	84,470
		---------	---------

GORMEC LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 January 2026

	2026		2025
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	1,000	1,000
Profit and loss account	89,281	83,470
	---------	---------
SHAREHOLDER FUNDS	90,281	84,470
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 19 October 2026 , and are signed on behalf of the board by:

Mr J A Gorman Director

Company registration number: 06412590

GORMEC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2026

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ingledene, 13 The Avenue, Lightcliffe, Halifax, West Yorkshire, HX3 8NP.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered for electrical installation, stated net of discounts and of Value Added Tax.

Current and deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Over 10 Years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	15% reducing balance
Motor vehicle	-	25% reducing balance
Computer equipment	-	33% straight line

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. PARTICULARS OF EMPLOYEES

The average number of persons employed by the company during the year amounted to 2 (2025: 2 ).

5. INTANGIBLE ASSETS

	Goodwill
	£
Cost
At 1 February 2025 and 31 January 2026	30,000
	---------
Amortisation
At 1 February 2025 and 31 January 2026	30,000
	---------
Carrying amount
At 31 January 2026	–
	---------
At 31 January 2025	–
	---------

6. TANGIBLE ASSETS

	Fixtures and fittings	Motor vehicles	Computer equipment	Total
	£	£	£	£
Cost
At 1 February 2025 and 31 January 2026	8,559	28,625	2,790	39,974
	-------	---------	-------	---------
Depreciation
At 1 February 2025	7,428	6,560	1,402	15,390
Charge for the year	170	7,156	610	7,936
	-------	---------	-------	---------
At 31 January 2026	7,598	13,716	2,012	23,326
	-------	---------	-------	---------
Carrying amount
At 31 January 2026	961	14,909	778	16,648
	-------	---------	-------	---------
At 31 January 2025	1,131	22,065	1,388	24,584
	-------	---------	-------	---------

7. DEBTORS

	2026	2025
	£	£
Trade debtors	31,463	27,639
Other debtors	10,858	3,389
	---------	---------
	42,321	31,028
	---------	---------

8. CREDITORS: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	1,372	2,933
Corporation tax	20,409	15,954
Social security and other taxes	1,560	141
Other creditors	4,704	5,543
	---------	---------
	28,045	24,571
	---------	---------

9. PROVISIONS

	Deferred tax (note 10)
	£
At 1 February 2025 and 31 January 2026	5,206
	-------

10. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2026	2025
	£	£
Included in provisions (note 9)	5,206	6,146
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2026	2025
	£	£
Accelerated capital allowances	5,206	6,146
	-------	-------

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director had an unsecured interest free loan with the company. The loan was in crediit throughout the year and is repayable on demand.

12. RELATED PARTY TRANSACTIONS

Included in 'Other debtors' is an unsecured interest free loan of £1,721 owing from Gorman Holdings Ltd, a company in which Mr J Gorman is also a director. This loan is repayable on demand.