8 8 Hugh McManus and Sons Limited NI001803 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is hardware merchants and builders' suppliers Digita Accounts Production Advanced 6.30.9574.0 true true NI001803 2023-05-01 2024-04-30 NI001803 2024-04-30 NI001803 bus:OrdinaryShareClass1 2024-04-30 NI001803 bus:OrdinaryShareClass2 2024-04-30 NI001803 core:CurrentFinancialInstruments 2024-04-30 NI001803 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 NI001803 core:FurnitureFittingsToolsEquipment 2024-04-30 NI001803 core:LandBuildings 2024-04-30 NI001803 core:MotorVehicles 2024-04-30 NI001803 core:OtherPropertyPlantEquipment 2024-04-30 NI001803 bus:SmallEntities 2023-05-01 2024-04-30 NI001803 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI001803 bus:FilletedAccounts 2023-05-01 2024-04-30 NI001803 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI001803 bus:RegisteredOffice 2023-05-01 2024-04-30 NI001803 bus:Director1 2023-05-01 2024-04-30 NI001803 bus:Director5 2023-05-01 2024-04-30 NI001803 bus:Director6 2023-05-01 2024-04-30 NI001803 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 NI001803 bus:OrdinaryShareClass2 2023-05-01 2024-04-30 NI001803 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI001803 core:FurnitureFittings 2023-05-01 2024-04-30 NI001803 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI001803 core:LandBuildings 2023-05-01 2024-04-30 NI001803 core:MotorVehicles 2023-05-01 2024-04-30 NI001803 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 NI001803 core:PlantMachinery 2023-05-01 2024-04-30 NI001803 countries:NorthernIreland 2023-05-01 2024-04-30 NI001803 2023-04-30 NI001803 core:FurnitureFittingsToolsEquipment 2023-04-30 NI001803 core:LandBuildings 2023-04-30 NI001803 core:MotorVehicles 2023-04-30 NI001803 core:OtherPropertyPlantEquipment 2023-04-30 NI001803 2022-05-01 2023-04-30 NI001803 2023-04-30 NI001803 bus:OrdinaryShareClass1 2023-04-30 NI001803 bus:OrdinaryShareClass2 2023-04-30 NI001803 core:CurrentFinancialInstruments 2023-04-30 NI001803 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 NI001803 core:FurnitureFittingsToolsEquipment 2023-04-30 NI001803 core:LandBuildings 2023-04-30 NI001803 core:MotorVehicles 2023-04-30 NI001803 core:OtherPropertyPlantEquipment 2023-04-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI001803

Hugh McManus and Sons Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Hugh McManus and Sons Limited

(Registration number: NI001803)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

145,948

155,487

Current assets

 

Stocks

175,250

166,650

Debtors

5

747,070

749,167

Cash at bank and in hand

 

324,113

209,254

 

1,246,433

1,125,071

Creditors: Amounts falling due within one year

6

(218,548)

(249,467)

Net current assets

 

1,027,885

875,604

Total assets less current liabilities

 

1,173,833

1,031,091

Provisions for liabilities

(2,611)

(4,029)

Net assets

 

1,171,222

1,027,062

Capital and reserves

 

Called up share capital

7

6,156

6,156

Retained earnings

1,165,066

1,020,906

Shareholders' funds

 

1,171,222

1,027,062

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

 

Hugh McManus and Sons Limited

(Registration number: NI001803)
Balance Sheet as at 30 April 2024

.........................................
Mrs Catherine Hurrell
Director

.........................................
Mr Liam Hurrell
Director

.........................................
Miss Rose Hurrell
Director

 

Hugh McManus and Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 3 Main Street, Randalstown, BT41 3AB.

These financial statements were authorised for issue by the Board on 28 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents the invoiced value of sales of goods, net of value added tax.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Hugh McManus and Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Buildings

2% per annum straight line basis

Plant and machinery

10% per annum straight line basis

Fixture and fittings

25% per annum straight line basis

Motor vehicles

20% per annum straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

 

Hugh McManus and Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Freehold land & buildings
£

Plant & machinery
 £

Fixtures & fittings
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

193,480

104,137

10,376

30,227

338,220

Additions

-

1,422

-

-

1,422

Disposals

-

(650)

-

-

(650)

At 30 April 2024

193,480

104,909

10,376

30,227

338,992

Depreciation

At 1 May 2023

54,107

88,463

10,376

29,787

182,733

Charge for the year

3,870

6,651

-

440

10,961

Eliminated on disposal

-

(650)

-

-

(650)

At 30 April 2024

57,977

94,464

10,376

30,227

193,044

Carrying amount

At 30 April 2024

135,503

10,445

-

-

145,948

At 30 April 2023

139,373

15,674

-

440

155,487

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

101,211

104,888

Amounts owed by related parties

625,982

622,982

Prepayments

 

19,877

21,297

   

747,070

749,167

 

Hugh McManus and Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

147,226

166,016

Directors current account

2,598

22,598

Taxation and social security

12,272

13,615

Accruals and deferred income

4,545

9,443

Other creditors

51,907

37,795

218,548

249,467

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A Shares of £1 each

6,154

6,154

6,154

6,154

Ordinary B Shares of £1 each

2

2

2

2

6,156

6,156

6,156

6,156