Company registration number 07193238 (England and Wales)
G MCHUGH CONSULTANCY LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
G MCHUGH CONSULTANCY LIMITED
COMPANY INFORMATION
Directors
Mr G P McHugh
Mrs G M McHugh
Company number
07193238
Registered office
9 Bonhill Street
London
EC2A 4DJ
Accountants
Begbies
9 Bonhill Street
London
EC2A 4DJ
Business address
223 Dawes Road
London
SW6 7RD
G MCHUGH CONSULTANCY LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Income statement
3
Statement of financial position
4
Statement of changes in equity
5
Notes to the financial statements
6 - 7
G MCHUGH CONSULTANCY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The directors present their annual report and financial statements for the year ended 31 March 2023.

Principal activities

The principal activity of the company continued to be that of consultancy in the building sector.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr G P McHugh
Mrs G M McHugh
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr G P McHugh
Director
21 August 2023
G MCHUGH CONSULTANCY LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF G MCHUGH CONSULTANCY LIMITED FOR THE YEAR ENDED 31 MARCH 2023
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G McHugh Consultancy Limited for the year ended 31 March 2023 set out on pages 4 to 7 from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of G McHugh Consultancy Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of G McHugh Consultancy Limited and state those matters that we have agreed to state to the Board of Directors of G McHugh Consultancy Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G McHugh Consultancy Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that G McHugh Consultancy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of G McHugh Consultancy Limited. You consider that G McHugh Consultancy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G McHugh Consultancy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Begbies
21 August 2023
Chartered Accountants
9 Bonhill Street
London
EC2A 4DJ
G MCHUGH CONSULTANCY LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
2023
2022
£
£
Administrative expenses
(5,994)
(7,847)
Loss before taxation
(5,994)
(7,847)
Tax on loss
-
0
-
0
Loss for the financial year
(5,994)
(7,847)

The income statement has been prepared on the basis that all operations are continuing operations.

G MCHUGH CONSULTANCY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023
31 March 2023
- 4 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
2,378,558
3,032,143
Cash at bank and in hand
451,441
84,108
2,829,999
3,116,251
Creditors: amounts falling due within one year
5
(104,044)
(384,302)
Net current assets
2,725,955
2,731,949
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
2,725,855
2,731,849
Total equity
2,725,955
2,731,949

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 21 August 2023 and are signed on its behalf by:
Mr G P McHugh
Director
Company Registration No. 07193238
G MCHUGH CONSULTANCY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2021
100
2,739,696
2,739,796
Year ended 31 March 2022:
Loss and total comprehensive income for the year
-
(7,847)
(7,847)
Balance at 31 March 2022
100
2,731,849
2,731,949
Year ended 31 March 2023:
Loss and total comprehensive income for the year
-
(5,994)
(5,994)
Balance at 31 March 2023
100
2,725,855
2,725,955
G MCHUGH CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
1
Accounting policies
Company information

G McHugh Consultancy Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Bonhill Street, London, EC2A 4DJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, rounded to the nearest £.

The financial statements have been prepared under the historical cost convention except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

1.2
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

 

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method less any impairment.

 

Basic financial Liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

G MCHUGH CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
-
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,378,158
3,031,527
Other debtors
400
616
2,378,558
3,032,143
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,144
4,248
Other creditors
100,900
380,054
104,044
384,302
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
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