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COMPANY REGISTRATION NUMBER: 10103518
Hughes Group Plumbing & Heating Ltd
Filleted Unaudited Financial Statements
28 February 2023
Hughes Group Plumbing & Heating Ltd
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
3,448
11,421
Current assets
Debtors
6
19,855
22,099
Cash at bank and in hand
48,604
32,885
--------
--------
68,459
54,984
Creditors: amounts falling due within one year
7
71,475
66,177
--------
--------
Net current liabilities
3,016
11,193
-------
--------
Total assets less current liabilities
432
228
----
----
Capital and reserves
Called up share capital
1
1
Profit and loss account
431
227
----
----
Shareholder funds
432
228
----
----
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 28 February 2023 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 3 May 2023 , and are signed on behalf of the board by:
Scott Thomas Hughes
Director
Company registration number: 10103518
Hughes Group Plumbing & Heating Ltd
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 136 St Albans Road, Watford, WD24 4RT.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102 and has taken advantage of the necessary exemptions.
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.
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:
Motor vehicles
-
25% straight line
Equipment
-
20% straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 1 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 March 2022 and 28 February 2023
24,990
8,620
33,610
--------
-------
--------
Depreciation
At 1 March 2022
18,741
3,448
22,189
Charge for the year
6,249
1,724
7,973
--------
-------
--------
At 28 February 2023
24,990
5,172
30,162
--------
-------
--------
Carrying amount
At 28 February 2023
3,448
3,448
--------
-------
--------
At 28 February 2022
6,249
5,172
11,421
--------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
19,378
19,150
Other debtors
477
2,949
--------
--------
19,855
22,099
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
44
Trade creditors
2,823
6,307
Corporation tax
7,313
6,944
Other creditors
61,339
52,882
--------
--------
71,475
66,177
--------
--------
8. Director's advances, credits and guarantees
There are no material transactions requiring further disclosure.