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REGISTERED NUMBER: 05196095 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

MICK HUGHES & SONS ROOFING SERVICES LTD

MICK HUGHES & SONS ROOFING SERVICES LTD (REGISTERED NUMBER: 05196095)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MICK HUGHES & SONS ROOFING SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr M Hughes
Mr J Hughes





REGISTERED OFFICE: 17 Moor Park Avenue
Preston
Lancashire
PR1 6AS





REGISTERED NUMBER: 05196095 (England and Wales)





ACCOUNTANTS: SBCA Chartered Accountants
17 Moor Park Avenue
Preston
Lancashire
PR1 6AS

MICK HUGHES & SONS ROOFING SERVICES LTD (REGISTERED NUMBER: 05196095)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 70,800 51,552

CURRENT ASSETS
Stocks 5 2,000 30,000
Debtors 6 41,122 19,268
Cash at bank 20,115 1,223
63,237 50,491
CREDITORS
Amounts falling due within one year 7 (37,495 ) (14,026 )
NET CURRENT ASSETS 25,742 36,465
TOTAL ASSETS LESS CURRENT LIABILITIES 96,542 88,017

PROVISIONS FOR LIABILITIES 8 (17,698 ) (12,886 )
NET ASSETS 78,844 75,131

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 78,744 75,031
SHAREHOLDERS' FUNDS 78,844 75,131

MICK HUGHES & SONS ROOFING SERVICES LTD (REGISTERED NUMBER: 05196095)

BALANCE SHEET - continued
31ST MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th November 2024 and were signed on its behalf by:





Mr M Hughes - Director


MICK HUGHES & SONS ROOFING SERVICES LTD (REGISTERED NUMBER: 05196095)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Mick Hughes & Sons Roofing Services 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.

Turnover
Turnover represents net invoiced value of goods and services provided in the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

MICK HUGHES & SONS ROOFING SERVICES LTD (REGISTERED NUMBER: 05196095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued

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

Basic financial assets:
Basic financial assets, which include debtors 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 financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities:
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


MICK HUGHES & SONS ROOFING SERVICES LTD (REGISTERED NUMBER: 05196095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st April 2023 76,157 29,750 105,907
Additions 22,628 12,420 35,048
Disposals - (5,000 ) (5,000 )
At 31st March 2024 98,785 37,170 135,955
DEPRECIATION
At 1st April 2023 27,522 26,833 54,355
Charge for year 12,055 828 12,883
Eliminated on disposal - (2,083 ) (2,083 )
At 31st March 2024 39,577 25,578 65,155
NET BOOK VALUE
At 31st March 2024 59,208 11,592 70,800
At 31st March 2023 48,635 2,917 51,552

MICK HUGHES & SONS ROOFING SERVICES LTD (REGISTERED NUMBER: 05196095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 2,000 -
Work-in-progress - 30,000
2,000 30,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 4,998 7,710
Other debtors 36,124 11,558
41,122 19,268

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 24,210 522
Taxation and social security 7,199 7,412
Other creditors 6,086 6,092
37,495 14,026

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 17,698 12,886

Deferred
tax
£   
Balance at 1st April 2023 12,886
Charge to Statement of Income and Retained Earnings during
year

4,812
Balance at 31st March 2024 17,698

MICK HUGHES & SONS ROOFING SERVICES LTD (REGISTERED NUMBER: 05196095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
50 A Ordinary £1 50 50
50 B Ordinary £1 50 50
100 100

10. RESERVES
Retained
earnings
£   

At 1st April 2023 75,031
Profit for the year 39,713
Dividends (36,000 )
At 31st March 2024 78,744