P Gough Electrical Limited - Filleted accounts

Registered number

06355541

P Gough Electrical Limited

Filleted Accounts

31 August 2025

P Gough Electrical Limited
Registered number:		06355541
Balance Sheet
as at 31 August 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		42,269			25,869

Current assets
Stocks		8,133			8,133
Debtors	4	60,046			104,682
Cash at bank and in hand		16,031			53,221
		84,210			166,036

Creditors: amounts falling due within one year	5	(24,280)			(91,596)

Net current assets			59,930			74,440

Total assets less current liabilities			102,199			100,309

Creditors: amounts falling due after more than one year	6		-			(2,010)



Net assets			102,199			98,299

Capital and reserves
Called up share capital			1			1
Profit and loss account			102,198			98,298

Shareholder's funds			102,199			98,299

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




P Gough
Director
Approved by the board on 24 November 2025

P Gough Electrical Limited
Notes to the Accounts
for the year ended 31 August 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Computer equipment			15% reducing balance
	Plant and machinery			15% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					4		4


3	Tangible fixed assets
		Computer equipment		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 September 2024	674		12,315		36,690		49,679
	Additions	-		-		22,700		22,700
	At 31 August 2025	674		12,315		59,390		72,379

	Depreciation
	At 1 September 2024	512		10,810		12,488		23,810
	Charge for the year	24		226		6,050		6,300
	At 31 August 2025	536		11,036		18,538		30,110

	Net book value
	At 31 August 2025	138		1,279		40,852		42,269
	At 31 August 2024	162		1,505		24,202		25,869


4	Debtors					2025		2024
£							£

	Trade debtors					60,046		104,682


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					2,010		5,324
	Trade creditors					18,273		16,231
	Taxation and social security costs					(2,471)		17,341
	Other creditors					6,468		52,700
						24,280		91,596


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					-		2,010


7	Other information

	P Gough Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Mynydd Mawr
	11 Edge Hill
	Llanfrechfa
	Cwmbran
	NP44 8UA