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REGISTERED NUMBER: 10632424 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 29th February 2024

for

PJ Hughes Properties Ltd

PJ Hughes Properties Ltd (Registered number: 10632424)

Contents of the Financial Statements
for the Year Ended 29th February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PJ Hughes Properties Ltd

Company Information
for the Year Ended 29th February 2024







DIRECTOR: P J Hughes





REGISTERED OFFICE: Georgelle
New Dover Road
Capel-le-Ferne
FOLKESTONE
Kent
CT18 7JJ





REGISTERED NUMBER: 10632424 (England and Wales)





ACCOUNTANTS: Blain Pritchard
Chartered Certified Accountants
74 College Road
Maidstone
Kent
ME15 6SL

PJ Hughes Properties Ltd (Registered number: 10632424)

Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,951 240
Investment property 5 3,090,000 3,090,000
3,130,951 3,090,240

CURRENT ASSETS
Debtors 6 969,273 548,719

CREDITORS
Amounts falling due within one year 7 778,711 373,323
NET CURRENT ASSETS 190,562 175,396
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,321,513

3,265,636

CREDITORS
Amounts falling due after more than one
year

8

(1,045

)

(1,045

)

PROVISIONS FOR LIABILITIES (236,740 ) (183,350 )
NET ASSETS 3,083,728 3,081,241

CAPITAL AND RESERVES
Called up share capital 2,125,100 2,125,100
Property revaluation reserves 728,260 781,650
Retained earnings 230,368 174,491
3,083,728 3,081,241

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PJ Hughes Properties Ltd (Registered number: 10632424)

Balance Sheet - continued
29th February 2024


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 Profit and Loss Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13th August 2024 and were signed by:





P J Hughes - Director


PJ Hughes Properties Ltd (Registered number: 10632424)

Notes to the Financial Statements
for the Year Ended 29th February 2024


1. STATUTORY INFORMATION

PJ Hughes Properties 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.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss 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 (2023 - NIL).

PJ Hughes Properties Ltd (Registered number: 10632424)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st March 2023 320
Additions 50,989
At 29th February 2024 51,309
DEPRECIATION
At 1st March 2023 80
Charge for year 10,278
At 29th February 2024 10,358
NET BOOK VALUE
At 29th February 2024 40,951
At 28th February 2023 240

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2023
and 29th February 2024 3,090,000
NET BOOK VALUE
At 29th February 2024 3,090,000
At 28th February 2023 3,090,000

Fair value at 29th February 2024 is represented by:
£   
Valuation in 2024 3,090,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,125,000 2,125,000
Aggregate depreciation (85,000 ) (63,750 )

The investment property was valued on an open market basis on 29th February 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,178 2,805
Other debtors 966,095 545,914
969,273 548,719

PJ Hughes Properties Ltd (Registered number: 10632424)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 723,117 321,844
Taxation and social security 23,189 20,600
Other creditors 32,405 30,879
778,711 373,323

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 1,045 1,045

9. RELATED PARTY DISCLOSURES

The following director who has now resigned from office was owed the following amount as at the year end:

Patrick J Hughes £24,907

The company were owed/(owed) the following amounts as at the year end in respect of inter-company transactions:

P Hughes Developers Ltd (£3,983)

Redcoast Developments Ltd £962,919