REGISTERED NUMBER: |
J.W. Hughes Holdings Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
REGISTERED NUMBER: |
J.W. Hughes Holdings Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
J.W. Hughes Holdings Limited (Registered number: 04631906) |
Contents of the Financial Statements |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
J.W. Hughes Holdings Limited |
Company Information |
for the year ended 31 July 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
J.W. Hughes Holdings Limited (Registered number: 04631906) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital | 8 |
Fair value reserve | 9 |
Retained earnings | 9 |
The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
J.W. Hughes Holdings Limited (Registered number: 04631906) |
Notes to the Financial Statements |
for the year ended 31 July 2024 |
1. | Statutory information |
J.W. Hughes Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents rent and management charges receivable during the year. |
Investment property |
Investment Property, which is property held to earn rentals and/or for capital appreciation is initially recognised at costs which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in the fair value are recognised in the profit and loss. Deferred taxation is provided on gains at the rate expected to apply when the property is sold. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from the bank and other third parties, loans to related parties, and investment in ordinary shares. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Taxation |
Taxation for the year comprises current and deferred 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 or deferred 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. |
J.W. Hughes Holdings Limited (Registered number: 04631906) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
2. | Accounting policies - continued |
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 |
4. | Fixed asset investments |
Other |
investments |
£ |
Cost |
At 1 August 2023 |
and 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 August 2023 |
and 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
Fair value at 31 July 2024 is represented by: |
£ |
Valuation in 2023 | 30,000 |
Valuation in 2022 | 320,000 |
350,000 |
Investment property was valued on a fair value basis on 31 July 2024 by the directors . |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
J.W. Hughes Holdings Limited (Registered number: 04631906) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | Called up share capital |
Allotted | Class: | Nominal | 2024 | 2023 |
Number: | value: | £ | £ |
52 | Ordinary A | 1 | 52 | 52 |
12 | Ordinary B | 1 | 12 | 12 |
12 | Ordinary C | 1 | 12 | 12 |
12 | Ordinary D | 1 | 12 | 12 |
12 | Ordinary E | 1 | 12 | 12 |
100 | 100 |
9. | Reserves |
Retained | Fair value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 August 2023 | 1,665,517 |
Profit for the year | - |
Dividends | ( |
) | - | ( |
) |
Property revaluation | 26,700 | (26,700 | ) | - |
No description | 4,250 | - | 4,250 |
At 31 July 2024 | 1,650,725 |
10. | Related party disclosures |
Included within other creditors is £426,445 (2023: £6,445) due to the directors from the company. |
Included within other debtors is £574,026 (2023: £780,564) owed from connected companies and £1,597,431 (2023: £579,155) owed from associated companies. Included within other creditors is £105,814 (2023: £107,189) owed to connected companies and £332,230 (2023: £608,351) owed to associated companies. |