HUGHES RENOVATIONS LIMITED 14235317 false 2022-07-14 2023-07-31 2023-07-31 The principal activity of the company is Development of building projects Digita Accounts Production Advanced 6.30.9574.0 true true 14235317 2022-07-14 2023-07-31 14235317 2023-07-31 14235317 bus:OrdinaryShareClass1 2023-07-31 14235317 core:CurrentFinancialInstruments 2023-07-31 14235317 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 14235317 core:FurnitureFittingsToolsEquipment 2023-07-31 14235317 core:MotorVehicles 2023-07-31 14235317 bus:SmallEntities 2022-07-14 2023-07-31 14235317 bus:AuditExemptWithAccountantsReport 2022-07-14 2023-07-31 14235317 bus:FilletedAccounts 2022-07-14 2023-07-31 14235317 bus:SmallCompaniesRegimeForAccounts 2022-07-14 2023-07-31 14235317 bus:RegisteredOffice 2022-07-14 2023-07-31 14235317 bus:Director1 2022-07-14 2023-07-31 14235317 bus:Director2 2022-07-14 2023-07-31 14235317 bus:OrdinaryShareClass1 2022-07-14 2023-07-31 14235317 bus:PrivateLimitedCompanyLtd 2022-07-14 2023-07-31 14235317 core:FurnitureFittings 2022-07-14 2023-07-31 14235317 core:FurnitureFittingsToolsEquipment 2022-07-14 2023-07-31 14235317 core:MotorVehicles 2022-07-14 2023-07-31 14235317 core:Vehicles 2022-07-14 2023-07-31 14235317 countries:EnglandWales 2022-07-14 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14235317

HUGHES RENOVATIONS LIMITED

Unaudited Filleted Financial Statements

for the Period from 14 July 2022 to 31 July 2023

 

HUGHES RENOVATIONS LIMITED

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

HUGHES RENOVATIONS LIMITED

Company Information

Directors

Hannah Louise Hughes

James Terence Hughes

Registered office

101 Weston Road
Ashton Clinton
Aylesbury
HP22 5EP

Accountants

Beans Accountants Ltd
Chartered Accountant
Suite F/22
The White House
Greenalls Avenue
Warrington
Cheshire
WA4 6HL

 

HUGHES RENOVATIONS LIMITED

(Registration number: 14235317)
Balance Sheet as at 31 July 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

8,396

Investment property

5

403,457

 

411,853

Current assets

 

Debtors

6

852

Cash at bank and in hand

 

4,053

 

4,905

Creditors: Amounts falling due within one year

7

(428,606)

Net current liabilities

 

(423,701)

Net liabilities

 

(11,848)

Capital and reserves

 

Called up share capital

8

20

Retained earnings

(11,868)

Shareholders' deficit

 

(11,848)

For the financial period ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 March 2024 and signed on its behalf by:
 

.........................................
James Terence Hughes
Director

 

HUGHES RENOVATIONS LIMITED

Notes to the Unaudited Financial Statements for the Period from 14 July 2022 to 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
101 Weston Road
Ashton Clinton
Aylesbury
HP22 5EP

These financial statements were authorised for issue by the Board on 28 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

HUGHES RENOVATIONS LIMITED

Notes to the Unaudited Financial Statements for the Period from 14 July 2022 to 31 July 2023 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

Straight Line Depreciation over 4 years

Other Capital Assets

Straight Line Depreciation over 3 years

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

HUGHES RENOVATIONS LIMITED

Notes to the Unaudited Financial Statements for the Period from 14 July 2022 to 31 July 2023 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

1,907

9,500

11,407

At 31 July 2023

1,907

9,500

11,407

Depreciation

Charge for the period

636

2,375

3,011

At 31 July 2023

636

2,375

3,011

Carrying amount

At 31 July 2023

1,271

7,125

8,396

5

Investment properties

2023
£

Additions

403,457

At 31 July

403,457

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2023
£

Prepayments

852

 

852

 

HUGHES RENOVATIONS LIMITED

Notes to the Unaudited Financial Statements for the Period from 14 July 2022 to 31 July 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Other creditors

428,606

8

Share capital

Allotted, called up and fully paid shares

2023

No.

£

£1 Ordinary Share of £1 each

20

20

   

9

Related party transactions

At the end of the financial year the company owed its directors £428.605. The amounts are provided interest free and are repayable on demand.

 

HUGHES RENOVATIONS LIMITED

Notes to the Unaudited Financial Statements for the Period from 14 July 2022 to 31 July 2023 (continued)

9

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the period was as follows:

2023
£

Remuneration

5,270