BrightAccountsProduction v1.0.0 v1.0.0 2023-03-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the activities of consultancy services and construction. 29 August 2024 1 1 13227732 2024-02-29 13227732 2023-02-28 13227732 2022-02-28 13227732 2023-03-01 2024-02-29 13227732 2022-03-01 2023-02-28 13227732 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13227732 uk-curr:PoundSterling 2023-03-01 2024-02-29 13227732 uk-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13227732 uk-bus:FullAccounts 2023-03-01 2024-02-29 13227732 uk-bus:Director1 2023-03-01 2024-02-29 13227732 uk-bus:RegisteredOffice 2023-03-01 2024-02-29 13227732 uk-bus:Agent1 2023-03-01 2024-02-29 13227732 uk-core:ShareCapital 2024-02-29 13227732 uk-core:ShareCapital 2023-02-28 13227732 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 13227732 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 13227732 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-02-29 13227732 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-02-28 13227732 uk-bus:FRS102 2023-03-01 2024-02-29 13227732 uk-core:PlantMachinery 2023-03-01 2024-02-29 13227732 uk-core:CurrentFinancialInstruments 2024-02-29 13227732 uk-core:CurrentFinancialInstruments 2023-02-28 13227732 uk-core:WithinOneYear 2024-02-29 13227732 uk-core:WithinOneYear 2023-02-28 13227732 2023-03-01 2024-02-29 13227732 uk-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: 13227732
 
 
P Hughes Holdings Ltd
 
Unaudited Financial Statements
 
for the financial year ended 29 February 2024
P Hughes Holdings Ltd
DIRECTOR AND OTHER INFORMATION

 
Director Mr. Philip Hughes
 
 
Company Registration Number 13227732
 
 
Registered Office and Business Address Kilmore House
Coventry Road
Wolvey, Hinckley
LE10 3HF
England
 
 
Accountants Muldoon & Co
16 Mount Charles
Belfast
BT7 1NZ
Northern Ireland
 
 
Bankers HSBC Bank PLC
  26 Clumber Street
  Nottingham
  NG1 3GA



P Hughes Holdings Ltd
Company Registration Number: 13227732
BALANCE SHEET
as at 29 February 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 99,902 -
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Current Assets
Stocks 5 360,130 -
Debtors 6 3,142,769 1,644,796
Cash and cash equivalents 7,258,645 8,499,970
───────── ─────────
10,761,544 10,144,766
───────── ─────────
Creditors: amounts falling due within one year 7 (189,357) (120,817)
───────── ─────────
Net Current Assets 10,572,187 10,023,949
───────── ─────────
Total Assets less Current Liabilities 10,672,089 10,023,949
═════════ ═════════
 
Capital and Reserves
Called up share capital 1 1
Retained earnings 10,672,088 10,023,948
───────── ─────────
Equity attributable to owners of the company 10,672,089 10,023,949
═════════ ═════════
 
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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 29 August 2024
           
           
           
________________________________          
Mr. Philip Hughes          
Director          
           



P Hughes Holdings Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 29 February 2024

   
1. General Information
 
P Hughes Holdings Ltd is a company limited by shares incorporated and registered in the England. The registered number of the company is 13227732. The registered office of the company is Kilmore House, Coventry Road, Wolvey, Hinckley, LE10 3HF, England which is also the principal place of business of the company. The principal activity of the company is the activities of consultancy services and construction. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 29 February 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 15% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was:
 
  2024 2023
  Number Number
 
Employee 1 1
  ═════════ ═════════
       
4. Tangible assets
  Plant and Total
  machinery  
     
  £ £
Cost
At 1 March 2023 - -
Additions 117,458 117,458
  ───────── ─────────
At 29 February 2024 117,458 117,458
  ───────── ─────────
Depreciation
At 1 March 2023 - -
Charge for the financial year 17,556 17,556
  ───────── ─────────
At 29 February 2024 17,556 17,556
  ───────── ─────────
Net book value
At 29 February 2024 99,902 99,902
  ═════════ ═════════
       
5. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 360,130 -
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2024 2023
  £ £
 
Trade debtors 42,660 78,077
Other debtors 2,800,001 1,500,001
Taxation  (Note 8) 55,194 5,987
Prepayments and accrued income 244,914 60,731
  ───────── ─────────
  3,142,769 1,644,796
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 163 114,000
Taxation  (Note 8) 183,529 5,617
Accruals 5,665 1,200
  ───────── ─────────
  189,357 120,817
  ═════════ ═════════
       
8. Taxation 2024 2023
  £ £
 
Debtors:
VAT - 5,987
Subcontractors tax 55,194 -
  ───────── ─────────
  55,194 5,987
  ═════════ ═════════
Creditors:
VAT 6,667 -
Corporation tax 176,862 5,617
  ───────── ─────────
  183,529 5,617
  ═════════ ═════════
       
9. Capital commitments
 
The company had no material capital commitments at the financial year-ended 29 February 2024.
   
10. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.