2023-05-012024-04-302024-04-30false10099617HUDSON MADIGAN 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HUDSON MADIGAN LTD

Registered Number
10099617
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

HUDSON MADIGAN LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

G Madigan

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

10099617 (England and Wales)
HUDSON MADIGAN LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3300599
300599
Current assets
Debtors427,70130,737
Cash at bank and on hand18,98529,824
46,68660,561
Creditors amounts falling due within one year5(30,408)(26,850)
Net current assets (liabilities)16,27833,711
Total assets less current liabilities16,57834,310
Creditors amounts falling due after one year6(15,000)(21,000)
Accruals and deferred income(1,460)(1,430)
Net assets11811,880
Capital and reserves
Called up share capital11
Profit and loss account11711,879
Shareholders' funds11811,880
The financial statements were approved and authorised for issue by the Director on 11 December 2024, and are signed on its behalf by:
G Madigan
Director
Registered Company No. 10099617
HUDSON MADIGAN LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 May 235,6495,649
At 30 April 245,6495,649
Depreciation and impairment
At 01 May 235,0505,050
Charge for year299299
At 30 April 245,3495,349
Net book value
At 30 April 24300300
At 30 April 23599599
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables17,82530,737
Other debtors9,876-
Total27,70130,737
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2572,971
Taxation and social security29,44422,025
Other creditors7071,854
Total30,40826,850
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts15,00021,000
Total15,00021,000
7.Related party transactions
During the year, total dividends of £68,450 (2023 - £51,543) were paid to the director.