2022-12-122024-03-312024-03-31false14536966HUGHES EPRODUCTS 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HUGHES EPRODUCTS LTD

Registered Number
14536966
(England and Wales)

Unaudited Financial Statements for the Period ended
31 March 2024

HUGHES EPRODUCTS LTD
Company Information
for the period from 12 December 2022 to 31 March 2024

Directors

HUGHES, Ashley Leon
HUGHES, Cameron Jack

Company Secretary

SMSA UK LTD

Registered Address

25 Hither Farm Road
Blackheath
London
SE3 9QT

Registered Number

14536966 (England and Wales)
HUGHES EPRODUCTS LTD
Statement of Financial Position
31 March 2024

Notes

2024

£

£

Fixed assets
Tangible assets3416
416
Current assets
Cash at bank and on hand3,219
3,219
Creditors amounts falling due within one year4(3,801)
Net current assets (liabilities)(582)
Total assets less current liabilities(166)
Net assets(166)
Capital and reserves
Called up share capital1
Profit and loss account(167)
Shareholders' funds(166)
The financial statements were approved and authorised for issue by the Board of Directors on 18 April 2024, and are signed on its behalf by:
HUGHES, Ashley Leon
Director
HUGHES, Cameron Jack
Director

Registered Company No. 14536966
HUGHES EPRODUCTS LTD
Notes to the Financial Statements
for the period ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

2024
Average number of employees during the year0
3.Tangible fixed assets

Total

£
Cost or valuation
Additions440
At 31 March 24440
Depreciation and impairment
Charge for year24
At 31 March 2424
Net book value
At 31 March 24416
At 11 December 22-
4.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables688
Other creditors3,113
Total3,801
Included in creditors is an amount of £3,113 (2023: £nil) owing to Mr A L Hughes, a director of the company. Mr A L Hughes undertakes not to draw down on this loan to the detriment of the company and, as such, considers it appropriate to prepare the accounts on the going concern basis.
5.Share capital
CALLED UP SHARE CAPITAL Allotted, issued and fully paid: Number: Class: Nominal value: £ 51 Ordinary A £0.01 0.51 49 Ordinary B £0.01 0.49