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REGISTERED NUMBER: 04230104 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

D L HUGHES LIMITED

D L HUGHES LIMITED (REGISTERED NUMBER: 04230104)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D L HUGHES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: D L Hughes
S L Hughes
T J Hughes





SECRETARY: Mrs C J Hughes





REGISTERED OFFICE: 10 Mostyn Street
Llandudno
LL30 2PS





REGISTERED NUMBER: 04230104 (England and Wales)





ACCOUNTANT: sianroberts
Chartered Accountant
10 Mostyn Street
Llandudno
Conwy
LL30 2PS

D L HUGHES LIMITED (REGISTERED NUMBER: 04230104)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 179,276 208,750
179,276 208,750

CURRENT ASSETS
Stocks 2,500 2,500
Debtors 6 68,505 62,312
Cash at bank 31,742 11,980
102,747 76,792
CREDITORS
Amounts falling due within one year 7 267,466 268,620
NET CURRENT LIABILITIES (164,719 ) (191,828 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,557

16,922

CREDITORS
Amounts falling due after more than one year 8 (16,721 ) (26,682 )

PROVISIONS FOR LIABILITIES (24,931 ) (23,458 )
NET LIABILITIES (27,095 ) (33,218 )

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (27,099 ) (33,222 )
SHAREHOLDERS' FUNDS (27,095 ) (33,218 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

D L HUGHES LIMITED (REGISTERED NUMBER: 04230104)

BALANCE SHEET - continued
31 OCTOBER 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 29 July 2024 and were signed on its behalf by:





D L Hughes - Director


D L HUGHES LIMITED (REGISTERED NUMBER: 04230104)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

D L Hughes 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.

The director has formed a judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the director continues to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.


Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2001, is being amortised evenly over its estimated useful life of ten years.


Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


D L HUGHES LIMITED (REGISTERED NUMBER: 04230104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 100,000
AMORTISATION
At 1 November 2022
and 31 October 2023 100,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

D L HUGHES LIMITED (REGISTERED NUMBER: 04230104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 3,837 588,545 592,382
Additions - 11,664 11,664
At 31 October 2023 3,837 600,209 604,046
DEPRECIATION
At 1 November 2022 1,222 382,410 383,632
Charge for year 77 41,061 41,138
At 31 October 2023 1,299 423,471 424,770
NET BOOK VALUE
At 31 October 2023 2,538 176,738 179,276
At 31 October 2022 2,615 206,135 208,750

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 65,505 50,437
Other debtors 3,000 11,875
68,505 62,312

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 11,482 3,971
Taxation and social security 3,123 -
Other creditors 242,861 254,649
267,466 268,620

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 16,721 26,682

D L HUGHES LIMITED (REGISTERED NUMBER: 04230104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 26,721 36,682

The director's loan is secured by a debenture.

10. ULTIMATE CONTROLLING PARTY

The controlling party is D L Hughes.