Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01falseprovision of vision mixing services to the television and braodcast industry11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07659753 2023-04-01 2024-03-31 07659753 2022-04-01 2023-03-31 07659753 2024-03-31 07659753 2023-03-31 07659753 c:Director1 2023-04-01 2024-03-31 07659753 c:RegisteredOffice 2023-04-01 2024-03-31 07659753 d:OfficeEquipment 2023-04-01 2024-03-31 07659753 d:OfficeEquipment 2024-03-31 07659753 d:OfficeEquipment 2023-03-31 07659753 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07659753 d:CurrentFinancialInstruments 2024-03-31 07659753 d:CurrentFinancialInstruments 2023-03-31 07659753 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07659753 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07659753 d:ShareCapital 2024-03-31 07659753 d:ShareCapital 2023-03-31 07659753 d:RetainedEarningsAccumulatedLosses 2024-03-31 07659753 d:RetainedEarningsAccumulatedLosses 2023-03-31 07659753 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 07659753 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 07659753 c:FRS102 2023-04-01 2024-03-31 07659753 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07659753 c:FullAccounts 2023-04-01 2024-03-31 07659753 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07659753 2 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 07659753

















Sean McHugh Ltd
Financial Statements
Information For Filing With The Registrar
For The Year Ended 31 March 2024

 
Sean McHugh Ltd
 
 
Company Information


Director
Sean McHugh 




Registered number
07659753



Registered office
105 Cock Lane

High Wycombe

Buckinghamshire

HP13 7DZ




Accountants
Michael Leigh (CCA) Limited
Chartered Certified Accountants

Brook House

54a Cowley Mill Road

Uxbridge

Middlesex

UB8 2QE





 
Sean McHugh Ltd
 

Contents



Page
Statement of financial position
 
 
1 - 2
Notes to the financial statements
 
 
3 - 7


 
Sean McHugh Ltd
Registered number:07659753

Statement of financial position
As at 31 March 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
657
938

  
657
938

Current assets
  

Debtors: amounts falling due within one year
 5 
21,185
45,864

Cash at bank and in hand
 6 
711,214
635,599

  
732,399
681,463

Creditors: amounts falling due within one year
 7 
(32,993)
(38,107)

Net current assets
  
 
 
699,406
 
 
643,356

Total assets less current liabilities
  
700,063
644,294

  

Net assets
  
700,063
644,294

Page 1

 
Sean McHugh Ltd
Registered number:07659753
    
Statement of financial position (continued)
As at 31 March 2024

2024
2024
2023
2023
Note
£
£
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
699,963
644,194

  
700,063
644,294


The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Sean McHugh
Director

Date: 18 September 2024


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
Sean McHugh Ltd
 
 
Notes To The Financial Statements
For The Year Ended 31 March 2024

1.


General information

Sean McHugh Limited is a private company, limited by shares, domiciled in England and Wales, registration number 07659753.  The registered office and business address is 105 Cock Lane High Wycombe HP13 7DZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
Sean McHugh Ltd
 
 
Notes To The Financial Statements
For The Year Ended 31 March 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
over 5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition
Page 4

 
Sean McHugh Ltd
 
 
Notes To The Financial Statements
For The Year Ended 31 March 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
2,997



At 31 March 2024

2,997



Depreciation


At 1 April 2023
2,059


Charge for the year on owned assets
281



At 31 March 2024

2,340



Net book value



At 31 March 2024
657



At 31 March 2023
938

Page 5

 
Sean McHugh Ltd
 
 
Notes To The Financial Statements
For The Year Ended 31 March 2024

5.


Debtors

2024
2023
£
£


Trade debtors
7,379
41,156

Prepayments and accrued income
13,806
4,708

21,185
45,864



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
711,214
635,599



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,035
447

Corporation tax
20,479
19,833

Other taxation and social security
9,711
12,730

Other creditors
141
3,470

Accruals and deferred income
1,627
1,627

32,993
38,107



8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
711,214
635,599



Page 6

 
Sean McHugh Ltd
 
 
Notes To The Financial Statements
For The Year Ended 31 March 2024

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund.
The pension cost charge represents contributions payable by the Company to the fund and amounted
to £10,000 (2023 - nil). No contributions (2023 - nil) were payable to the fund at the reporting date.

 
Page 7