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REGISTERED NUMBER: 09890381 (England and Wales)














Financial Statements

for the Year Ended 31 May 2021

for

Hughes & Jones (Liverpool) Limited

Hughes & Jones (Liverpool) Limited (Registered number: 09890381)

Contents of the Financial Statements
for the Year Ended 31 May 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hughes & Jones (Liverpool) Limited

Company Information
for the Year Ended 31 May 2021







DIRECTORS: D G Jones
R M Hughes





REGISTERED OFFICE: Oriel House
2-8 Oriel Road
Bootle
Merseyside
L20 7EP





REGISTERED NUMBER: 09890381 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Hughes & Jones (Liverpool) Limited (Registered number: 09890381)

Balance Sheet
31 May 2021

31.5.21 31.5.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,164 4,219
Investment property 5 2,266,384 2,743,598
2,269,548 2,747,817

CURRENT ASSETS
Debtors 6 1,662,328 1,645,715
Cash at bank - 38
1,662,328 1,645,753
CREDITORS
Amounts falling due within one year 7 2,516,351 141,472
NET CURRENT (LIABILITIES)/ASSETS (854,023 ) 1,504,281
TOTAL ASSETS LESS CURRENT LIABILITIES 1,415,525 4,252,098

CREDITORS
Amounts falling due after more than one year 8 - 2,729,078
NET ASSETS 1,415,525 1,523,020

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 140,614 -
Retained earnings 1,274,811 1,522,920
1,415,525 1,523,020

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Hughes & Jones (Liverpool) Limited (Registered number: 09890381)

Balance Sheet - continued
31 May 2021


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2024 and were signed on its behalf by:





D G Jones - Director


Hughes & Jones (Liverpool) Limited (Registered number: 09890381)

Notes to the Financial Statements
for the Year Ended 31 May 2021


1. STATUTORY INFORMATION

Hughes & Jones (Liverpool) 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The investment property was valued by Keppie Massie at an open market value in January
2017, in accordance with the provisions of the Practice Statements contained in the
valuation - Professional Standards published by the RICS.

Valuation at 31 May 2019 is represented by cost of £996,387 and revaluations of
£1,967,982 in 2016, £(220,771) in 201and (173598) in 2021.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

Hughes & Jones (Liverpool) Limited (Registered number: 09890381)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2021


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2020
and 31 May 2021 10,000
DEPRECIATION
At 1 June 2020 5,781
Charge for year 1,055
At 31 May 2021 6,836
NET BOOK VALUE
At 31 May 2021 3,164
At 31 May 2020 4,219

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2020 2,743,598
Additions 31,464
Revaluations (173,598 )
Reclassification/transfer (335,080 )
At 31 May 2021 2,266,384
NET BOOK VALUE
At 31 May 2021 2,266,384
At 31 May 2020 2,743,598

Fair value at 31 May 2021 is represented by:
£   
Valuation in 2021 2,266,384

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.21 31.5.20
£    £   
Trade debtors 3,785 4,599
Amounts owed by participating interests 1,571,892 1,620,032
Other debtors 86,651 21,084
1,662,328 1,645,715

Hughes & Jones (Liverpool) Limited (Registered number: 09890381)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2021


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.21 31.5.20
£    £   
Bank loans and overdrafts 2,444,166 85,210
Taxation and social security 29,071 28,031
Other creditors 43,114 28,231
2,516,351 141,472

Creditors include bank loans and overdrafts of (2021£2,444,16669,119) which are secured
by a legal charge over the property known as 22, 24, 26, 38 & 30 Watkinson Street and a
fixed and floating charge over all the property and undertakings of the company. The fixed
and floating charge contains a negative pledge prohibiting the company from creating further
security that will rank equally with or ahead of the charge.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.21 31.5.20
£    £   
Bank loans - 2,393,998
Other creditors - 335,080
- 2,729,078

9. RESERVES
Fair
value
reserve
£   
Revaluation reserve 140,614

At 31 May 2021 140,614

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2021 and 31 May 2020:

31.5.21 31.5.20
£    £   
D G Jones
Balance outstanding at start of year (21,083 ) -
Amounts advanced 32,583 -
Amounts repaid - (21,083 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,500 (21,083 )

Hughes & Jones (Liverpool) Limited (Registered number: 09890381)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2021


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

R M Hughes
Balance outstanding at start of year 7,500 -
Amounts advanced 8,000 7,500
Amounts repaid (21,083 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,583 ) 7,500