IRIS Accounts Production v23.3.1.45 11402554 Board of Directors 1.7.22 30.6.23 30.6.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh114025542022-06-30114025542023-06-30114025542022-07-012023-06-30114025542021-06-30114025542021-07-012022-06-30114025542022-06-3011402554ns10:Originalns15:EnglandWales2022-07-012023-06-3011402554ns14:PoundSterlingns10:Original2022-07-012023-06-3011402554ns10:Originalns10:Director12022-07-012023-06-3011402554ns10:Original2022-07-012023-06-3011402554ns10:Original2023-06-3011402554ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3011402554ns10:Originalns10:SmallEntities2022-07-012023-06-3011402554ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3011402554ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3011402554ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3011402554ns10:Originalns10:FullAccounts2022-07-012023-06-3011402554ns10:Original2021-07-012022-06-3011402554ns10:Originalns10:Director22022-07-012023-06-3011402554ns10:Originalns10:RegisteredOffice2022-07-012023-06-3011402554ns10:Original2022-06-3011402554ns10:Originalns5:CurrentFinancialInstruments2023-06-3011402554ns10:Originalns5:CurrentFinancialInstruments2022-06-3011402554ns10:Originalns5:Non-currentFinancialInstruments2023-06-3011402554ns10:Originalns5:Non-currentFinancialInstruments2022-06-3011402554ns5:ShareCapitalns10:Original2023-06-3011402554ns5:ShareCapitalns10:Original2022-06-3011402554ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3011402554ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3011402554ns10:Originalns5:ComputerEquipment2022-07-012023-06-3011402554ns10:Originalns5:ComputerEquipment2022-06-3011402554ns10:Originalns5:ComputerEquipment2023-06-3011402554ns10:Originalns5:ComputerEquipment2022-06-3011402554ns10:Originalns5:AdditionsToInvestments2023-06-3011402554ns10:Originalns5:CostValuation2023-06-3011402554ns10:Original2022-06-3011402554ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-06-3011402554ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-06-3011402554ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-06-3011402554ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-06-30
REGISTERED NUMBER: 11402554 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

HUGHES FAMILY PROPERTY LTD

HUGHES FAMILY PROPERTY LTD (REGISTERED NUMBER: 11402554)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


HUGHES FAMILY PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mrs J Hughes
Mr B S Hughes





REGISTERED OFFICE: 1B Mile End
London Road
Bath
BA1 6PT





REGISTERED NUMBER: 11402554 (England and Wales)





ACCOUNTANTS: JRS Accountants Limited
584 Wellsway
Bath
Somerset
BA2 2UE

HUGHES FAMILY PROPERTY LTD (REGISTERED NUMBER: 11402554)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2023


The directors present their report with the financial statements of the company for the year ended 30 June 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

Mrs J Hughes
Mr B S Hughes

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs J Hughes - Director


8 February 2024

HUGHES FAMILY PROPERTY LTD (REGISTERED NUMBER: 11402554)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 10,580 14,106
Investments 5 190,950 -
Investment property 6 3,375,000 750,000
3,576,530 764,106

CURRENT ASSETS
Cash at bank 17,443 5,754

CREDITORS
Amounts falling due within one year 7 (633,184 ) (166,248 )
NET CURRENT LIABILITIES (615,741 ) (160,494 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,960,789

603,612

CREDITORS
Amounts falling due after more than one
year

8

(2,531,177

)

(339,507

)

PROVISIONS FOR LIABILITIES (140,311 ) (62,348 )
NET ASSETS 289,301 201,757

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 289,299 201,755
SHAREHOLDERS' FUNDS 289,301 201,757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 FAMILY PROPERTY LTD (REGISTERED NUMBER: 11402554)

BALANCE SHEET - continued
30 JUNE 2023


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 8 February 2024 and were signed on its behalf by:





Mrs J Hughes - Director


HUGHES FAMILY PROPERTY LTD (REGISTERED NUMBER: 11402554)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Hughes Family Property Ltd 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.
Equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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 (2022 - NIL).

HUGHES FAMILY PROPERTY LTD (REGISTERED NUMBER: 11402554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 July 2022
and 30 June 2023 23,397
DEPRECIATION
At 1 July 2022 9,291
Charge for year 3,526
At 30 June 2023 12,817
NET BOOK VALUE
At 30 June 2023 10,580
At 30 June 2022 14,106

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 190,950
At 30 June 2023 190,950
NET BOOK VALUE
At 30 June 2023 190,950

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 750,000
Additions 2,720,375
Disposals (100,000 )
Revaluations 4,625
At 30 June 2023 3,375,000
NET BOOK VALUE
At 30 June 2023 3,375,000
At 30 June 2022 750,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2023 3,375,000

HUGHES FAMILY PROPERTY LTD (REGISTERED NUMBER: 11402554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Amounts owed to associates 611,067 154,088
Accruals and deferred income 12,117 2,160
633,184 166,248

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 27,600 37,500
Bank loans more 5 yrs non-inst 2,503,577 302,007
2,531,177 339,507

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,503,577 302,007