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REGISTERED NUMBER: 07078399 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

C J Hugo Limited

C J Hugo Limited (Registered number: 07078399)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


C J Hugo Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr C J Hugo





SECRETARY: Mrs J K Hugo





REGISTERED OFFICE: The Red House
50 High Street
Sevenoaks
Kent
TN13 1JL





REGISTERED NUMBER: 07078399 (England and Wales)





ACCOUNTANTS: Underwood Green
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS

C J Hugo Limited (Registered number: 07078399)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 1,355,172 1,128,303
Cash at bank 23,613 36,048
1,378,785 1,164,351
CREDITORS
Amounts falling due within one year 6 110,020 97,102
NET CURRENT ASSETS 1,268,765 1,067,249
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,268,765

1,067,249

CAPITAL AND RESERVES
Called up share capital 7 1 1
Revaluation reserve 8 181,782 184,551
Retained earnings 1,086,982 882,697
SHAREHOLDERS' FUNDS 1,268,765 1,067,249

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

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

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2024 and were signed by:





Mr C J Hugo - Director


C J Hugo Limited (Registered number: 07078399)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

C J Hugo Limited 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 the company's share of the profits of the partnership Knocker & Foskett Solicitors.

Goodwill
Purchased goodwill is amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives as follows:

Goodwill - ten years

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

C J Hugo Limited (Registered number: 07078399)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 321,750
Disposals (4,828 )
At 31 March 2024 316,922
AMORTISATION
At 1 April 2023 321,750
Eliminated on disposal (4,828 )
At 31 March 2024 316,922
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Goodwill arose on the purchase of the company's share in Knocker & Foskett Solicitors.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Due from Knocker & Foskett 1,204,860 1,019,180
Directors' current accounts 150,312 109,123
1,355,172 1,128,303

Other than as stated under directors' current accounts, none of the above amounts related to amounts due from the director or shareholder of the company either directly or indirectly.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 81,478 25,675
Social security and other taxes - 7
Other creditors 27,000 69,992
Accruals and deferred income 1,542 1,428
110,020 97,102

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

C J Hugo Limited (Registered number: 07078399)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. RESERVES
Revaluation
reserve
£   
At 1 April 2023 184,551
Transfer between reserves (2,769 )

At 31 March 2024 181,782

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr C J Hugo
Balance outstanding at start of year 109,123 107,482
Amounts advanced 150,690 118,603
Amounts repaid (109,501 ) (116,962 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 150,312 109,123

Interest was charged on the director's advances at HM Revenue & Customs official rate of interest being 2% per annum to 5 April 2023 and 2.25% thereafter.

The outstanding advances were repaid within nine months of the year end.