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REGISTERED NUMBER: 07917913 (England and Wales)












POWIS HUGHES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






POWIS HUGHES LIMITED (REGISTERED NUMBER: 07917913)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POWIS HUGHES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: R G J Staples





REGISTERED OFFICE: Sunrise Hill Yard
East Ilsley
Newbury
Berkshire
RG20 7LY





REGISTERED NUMBER: 07917913 (England and Wales)

POWIS HUGHES LIMITED (REGISTERED NUMBER: 07917913)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 63,018 31,960
Investments 6 187,586 146,972
250,604 178,932

CURRENT ASSETS
Debtors 7 198,991 99,070
Cash at bank 198,047 173,171
397,038 272,241
CREDITORS
Amounts falling due within one year 8 (121,183 ) (40,872 )
NET CURRENT ASSETS 275,855 231,369
TOTAL ASSETS LESS CURRENT
LIABILITIES

526,459

410,301

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (unrealised) 36,896 12,406
Retained earnings 489,463 397,795
SHAREHOLDERS' FUNDS 526,459 410,301

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

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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.

POWIS HUGHES LIMITED (REGISTERED NUMBER: 07917913)

BALANCE SHEET - continued
29 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 September 2024 and were signed by:





R G J Staples - Director


POWIS HUGHES LIMITED (REGISTERED NUMBER: 07917913)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Powis 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 FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and far view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012 has been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% Reducing balance
Motor vehicles - 25% Reducing balance
Office equipment - Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

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.


POWIS HUGHES LIMITED (REGISTERED NUMBER: 07917913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

The exception to this is in respect of fixed asset investments in shares and cryptocurrencies which are measured at fair value with changes in fair value recognised in profit and loss.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

POWIS HUGHES LIMITED (REGISTERED NUMBER: 07917913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 March 2023
and 29 February 2024 20,000
AMORTISATION
At 1 March 2023
and 29 February 2024 20,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 March 2023 11,244 52,185 25,673 89,102
Additions 1,009 68,990 3,491 73,490
Disposals - (52,185 ) - (52,185 )
At 29 February 2024 12,253 68,990 29,164 110,407
DEPRECIATION
At 1 March 2023 9,615 32,408 15,119 57,142
Charge for year 407 17,248 5,000 22,655
Eliminated on disposal - (32,408 ) - (32,408 )
At 29 February 2024 10,022 17,248 20,119 47,389
NET BOOK VALUE
At 29 February 2024 2,231 51,742 9,045 63,018
At 28 February 2023 1,629 19,777 10,554 31,960

6. FIXED ASSET INVESTMENTS

2024 2023
£ £
Other investments not loans 187,586 146,972

POWIS HUGHES LIMITED (REGISTERED NUMBER: 07917913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Other
investments
£
COST OR VALUATION
At 1 March 2023 134,566
Disposals (10,000 )
Revaluations 24,914
At 29 February 2024 149,480
NET BOOK VALUE
At 29 February 2024 149,480
At 28 February 2023 134,566

Cost or valuation at 29 February 2024 is represented by:

Other
investments
£
Valuation in 2016 1,227
Valuation in 2017 6,101
Valuation in 2018 (8,455 )
Valuation in 2019 (19,438 )
Valuation in 2020 (10,041 )
Valuation in 2021 37,950
Valuation in 2022 (128,088 )
Valuation in 2023 (64,609 )
Valuation in 2024 24,914
Cost 309,919
149,480

Investments (neither listed nor unlisted) were as follows:
2024 2023
£ £
Cost/Valuation b/f 12,406 29,584
Additions - 7,785
Valuation in 2023 - (24,963 )
Valuation in 2024 25,700 -
38,106 12,406

POWIS HUGHES LIMITED (REGISTERED NUMBER: 07917913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 179,848 72,400
Other debtors 19,143 26,670
198,991 99,070

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Taxation and social security 114,188 33,611
Other creditors 6,995 7,261
121,183 40,872