Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01true3false3falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08692977 2023-04-01 2024-03-31 08692977 2022-04-01 2023-03-31 08692977 2024-03-31 08692977 2023-03-31 08692977 2022-04-01 08692977 c:Director3 2023-04-01 2024-03-31 08692977 d:CurrentFinancialInstruments 2024-03-31 08692977 d:CurrentFinancialInstruments 2023-03-31 08692977 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08692977 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08692977 d:ShareCapital 2024-03-31 08692977 d:ShareCapital 2023-03-31 08692977 d:RevaluationReserve 2024-03-31 08692977 d:RevaluationReserve 2023-03-31 08692977 d:RetainedEarningsAccumulatedLosses 2024-03-31 08692977 d:RetainedEarningsAccumulatedLosses 2023-03-31 08692977 c:FRS102 2023-04-01 2024-03-31 08692977 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08692977 c:FullAccounts 2023-04-01 2024-03-31 08692977 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08692977 6 2023-04-01 2024-03-31 08692977 d:OtherDeferredTax 2024-03-31 08692977 d:OtherDeferredTax 2023-03-31 08692977 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 08692977










HUGHES CAPITAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
HUGHES CAPITAL LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 5


 
HUGHES CAPITAL LIMITED
REGISTERED NUMBER: 08692977

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
491,086
584,654

Current assets
  

Debtors: amounts falling due within one year
 5 
293
67,728

Cash at bank and in hand
  
69,413
6,173

  
69,706
73,901

Creditors: amounts falling due within one year
 6 
(8,221)
(5,240)

Net current assets
  
 
 
61,485
 
 
68,661

Total assets less current liabilities
  
552,571
653,315

Provisions for liabilities
  

Deferred tax
 7 
(29,051)
(20,344)

  
 
 
(29,051)
 
 
(20,344)

Net assets
  
523,520
632,971


Capital and reserves
  

Called up share capital 
  
500,000
500,000

Revaluation reserve
  
102,185
78,177

Profit and loss account
  
(78,665)
54,794

  
523,520
632,971


Page 1

 
HUGHES CAPITAL LIMITED
REGISTERED NUMBER: 08692977
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 directors acknowledge their 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 comprehensive income 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: 



R M Hughes
Director

Date: 20 September 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
HUGHES CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Hughes Capital Limited (the company) is  a private company, limited by shares, incorporated and domiciled in England. The address of its registered office is Oaklands, Bannals Lane, Stoke Bliss, Tenbury Wells, Worcestershire, WR15 8RZ, which is also the address of its principal place of business.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

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.

Investment income and interest income is recognised on a receivable basis.

 
2.3

Valuation of investments

Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.5

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.6

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.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
HUGHES CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Fixed asset investments





Listed investments

£



Valuation


At 1 April 2023
584,654


Additions
14,784


Disposals
(146,397)


Revaluations
38,045



At 31 March 2024
491,086




The historic cost of the investments was £359,850 (2023: £486,132).

Page 4

 
HUGHES CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
293
67,728



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
2,600

Other taxation and social security
2,006
-

Other creditors
2,628
-

Accruals and deferred income
3,587
2,640

8,221
5,240



7.


Deferred taxation




2024
2023


£

£






At beginning of year
(20,344)
(36,247)


Charged to profit or loss
(8,707)
15,903



At end of year
(29,051)
(20,344)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Capital gains
(29,051)
(20,344)

 
Page 5