Company registration number 13697857 (England and Wales)
HUGHES PROPERTY HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HUGHES PROPERTY HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HUGHES PROPERTY HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
86,415
86,415
Current assets
Debtors
4
1,024
961
Cash at bank and in hand
2,582
1,826
3,606
2,787
Creditors: amounts falling due within one year
5
(42,098)
(43,080)
Net current liabilities
(38,492)
(40,293)
Total assets less current liabilities
47,923
46,122
Creditors: amounts falling due after more than one year
6
(51,755)
(51,726)
Net liabilities
(3,832)
(5,604)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(3,932)
(5,704)
Total equity
(3,832)
(5,604)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 November 2024 and are signed on its behalf by:
Mr C S Hughes
Director
Company registration number 13697857 (England and Wales)
HUGHES PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Hughes Property Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Hilliards Court, Chester Business Park, Chester, Cheshire, CH4 9PX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
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 receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

HUGHES PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments 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 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 method.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
86,415

Investment property comprises of one residential property . The fair value of the investment property has been valued at cost on the basis that it was acquired in May 2022 .

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
80
-
0
Other debtors
944
961
1,024
961
HUGHES PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,000
4,064
Amounts owed to group undertakings
30,000
30,000
Other creditors
10,098
9,016
42,098
43,080
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
51,755
51,726
2024-03-312023-04-01false06 November 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr C S HughesMrs L A Hughesfalsefalse136978572023-04-012024-03-31136978572024-03-31136978572023-03-3113697857core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3113697857core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3113697857core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3113697857core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3113697857core:CurrentFinancialInstruments2024-03-3113697857core:CurrentFinancialInstruments2023-03-3113697857core:ShareCapital2024-03-3113697857core:ShareCapital2023-03-3113697857core:RetainedEarningsAccumulatedLosses2024-03-3113697857core:RetainedEarningsAccumulatedLosses2023-03-3113697857bus:Director12023-04-012024-03-31136978572022-04-012023-03-31136978572023-03-3113697857core:WithinOneYear2024-03-3113697857core:WithinOneYear2023-03-3113697857core:Non-currentFinancialInstruments2024-03-3113697857core:Non-currentFinancialInstruments2023-03-3113697857bus:PrivateLimitedCompanyLtd2023-04-012024-03-3113697857bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3113697857bus:FRS1022023-04-012024-03-3113697857bus:AuditExemptWithAccountantsReport2023-04-012024-03-3113697857bus:Director22023-04-012024-03-3113697857bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP