Registered number
08635088
McHugh Roofing & Cladding Ltd
Filleted Accounts
31 August 2023
McHugh Roofing & Cladding Ltd
Registered number: 08635088
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Current assets
Debtors 5 3,101 3,645
Cash at bank and in hand 177,352 137,936
180,453 141,581
Creditors: amounts falling due within one year 6 (13,600) (2,968)
Net current assets 166,853 138,613
Net assets 166,853 138,613
Capital and reserves
Called up share capital 1 1
Profit and loss account 166,852 138,612
Shareholder's funds 166,853 138,613
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.
Mr C J McHugh
Director
Approved by the board on 26 September 2023
McHugh Roofing & Cladding Ltd
Notes to the Accounts
for the year ended 31 August 2023
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2022 10,900
At 31 August 2023 10,900
Amortisation
At 1 September 2022 10,900
At 31 August 2023 10,900
Net book value
At 31 August 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 10,170
At 31 August 2023 10,170
Depreciation
At 1 September 2022 10,170
At 31 August 2023 10,170
Net book value
At 31 August 2023 -
5 Debtors 2023 2022
£ £
Trade debtors 2,848 960
Other debtors 253 2,685
3,101 3,645
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 10,554 656
Other creditors 3,046 2,312
13,600 2,968
7 Other information
McHugh Roofing & Cladding Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 Clarence Place
Cardiff
CF10 5GW
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