REGISTERED NUMBER: 00975956 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

A & J GOUGH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K Barnett

SECRETARY:

Mrs S Barnett

REGISTERED OFFICE:

Suite 7, Mason Yard

177 Westbourne Street

Hove

East Sussex

BN3 5FB

REGISTERED NUMBER:

00975956 (England and Wales)

ACCOUNTANTS:

Haines & Co

Chartered Accountants

Carlton House

28/29 Carlton Terrace

Portslade

East Sussex

BN41 1UR

SOLICITORS:

Deibel & Allen

10 Franklin Road

Portslade

East Sussex

FIXED ASSETS

Tangible assets

4

14,933

21,860

CURRENT ASSETS

Stocks

5

18,638

22,963

Debtors

6

14,784

18,888

Cash at bank and in hand

8,699

3,945

42,121

45,796

CREDITORS

Amounts falling due within one year

7

86,177

77,186

NET CURRENT LIABILITIES

(44,056

)

(31,390

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(29,123

)

(9,530

)

CREDITORS

Amounts falling due after more than one year

8

18,183

26,070

NET LIABILITIES

(47,306

)

(35,600

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(47,406

)

(35,700

)

SHAREHOLDERS' FUNDS

(47,306

)

(35,600

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 14 December 2018 and were signed by:

K Barnett - Director

1.	STATUTORY INFORMATION

A & J Gough 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover, which is stated net of value added tax, represents amounts invoiced to third parties, except for

contracts in progress over the year end where turnover represents the value of work done in the year including

estimates in respect of amounts not invoiced.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33% on cost and 20% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2017

8,650

98,722

2,135

109,507

Additions

-

-

308

308

At 31 March 2018

8,650

98,722

2,443

109,815

DEPRECIATION

At 1 April 2017

8,650

76,938

2,059

87,647

Charge for year

-

7,135

100

7,235

At 31 March 2018

8,650

84,073

2,159

94,882

NET BOOK VALUE

At 31 March 2018

-

14,649

284

14,933

At 31 March 2017

-

21,784

76

21,860

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2017

and 31 March 2018

44,875

DEPRECIATION

At 1 April 2017

33,794

Charge for year

3,499

At 31 March 2018

37,293

NET BOOK VALUE

At 31 March 2018

7,582

At 31 March 2017

11,081

5.

STOCKS

2018

2017

£

£

Finished goods & raw materials

13,382

13,612

Work-in-progress

5,256

9,351

18,638

22,963

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

14,784

18,888

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

2,956

2,956

Hire purchase contracts

2,286

2,286

Trade creditors

13,591

13,832

Taxation and social security

10,838

6,789

Other creditors

56,506

51,323

86,177

77,186

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

16,278

22,070

Hire purchase contracts

1,905

4,000

18,183

26,070

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

5,278

11,070

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

19,234

25,026

Hire purchase contracts

4,191

6,286

23,425

31,312

The bank overdraft of the company is secured by a fixed and floating charge on the assets of the company .

The bank loan bears interest at 8.75%, is repayable in monthly instalments of £646 and is secured by an all

monies guarantee of Mr & Mrs K Barnett.