Douglas Hughes Developments Limited |
Registered Number:NI036636 |
For the year ended 31 July 2024
Northern Ireland
Unaudited Financial Statements
For the year ended 31 July 2024
Douglas Hughes Developments Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Douglas Hughes Developments Limited
Statement of Financial Position
2023
2024
Property, plant and equipment |
28,193
36,657
2
3
882,029
747,178
910,222
783,835
357,573
224,492
4
Trade and other receivables |
29,921
5,737
5
211,131
Cash and cash equivalents |
320,259
550,488
598,625
Trade and other payables: amounts falling due within one |
year |
(179,485)
(180,747)
6
419,140
369,741
Net current assets
Total assets less current liabilities |
1,279,963
1,202,975
Trade and other payables: amounts falling due after more |
than one year |
(178,359)
(200,000)
7
(6,670)
(6,614)
Provisions for liabilities |
1,073,293
Net assets
1,018,002
116,222
116,222
957,071
901,780
1,073,293
1,018,002
Shareholders' funds
For the year ended 31 July 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 July 2024
Douglas Hughes Developments Limited
Statement of Financial Position Continued
Mr Douglas Hughes Director |
Mrs Lynda Hughes Director |
These financial statements were approved and authorised for issue by the Board on 14 November 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 July 2024
Douglas Hughes Developments Limited
Notes to the Financial Statements
Statutory Information
Douglas Hughes Developments Limited is a private limited company, limited by shares, domiciled in Northern Ireland, |
registration number NI036636. |
86 Mowhan Road
Markethill
Armagh
BT60 1RQ
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Motor Vehicles
Furniture and Fittings
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
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For the year ended 31 July 2024
Douglas Hughes Developments Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
Motor Vehicles
492,644
29,762
96,009
366,873
366,873
96,009
29,762
492,644
Provision for depreciation and impairment |
455,987
29,354
89,414
337,219
Charge for year
8,464
61
989
7,414
464,451
29,415
90,403
344,633
22,240
5,606
347
28,193
29,654
6,595
408
36,657
747,178
134,851
882,029
882,029
747,178
2023
2024
224,492
357,573
5. Trade and other receivables |
2023
2024
4,625
12,165
1,112
17,756
29,921
5,737
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For the year ended 31 July 2024
Douglas Hughes Developments Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due within one year |
2023
2024
3,553
11,889
86,434
75,937
Taxation and social security |
38,208
40,342
52,552
51,317
180,747
179,485
7. Trade and other payables: amounts falling due after more than one year |
2023
2024
-
18,359
200,000
160,000
200,000
178,359
8. Directors advances and guarantees |
Loaned
Repaid
Mr Gareth Hughes
Directors Current Account
31,416
24,150
7,266
-
31,416
24,150
7,266
-
Mr Douglas Hughes
Directors Current Account
98,476
83,351
19,535
4,410
98,476
83,351
19,535
4,410
Mrs Lynda Hughes
Directors Current Account
98,476
83,352
19,535
4,411
98,476
83,352
19,535
4,411
9. Average number of persons employed |
During the year the average number of employees was 4 (2023 : 5)
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