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Registered number: 05102679
E. Ll. Hughes And Sons Limited
Unaudited Financial Statements
For the Period 1 May 2023 to 31 March 2024
Deans
Gibson House Hurricane Court
Hurricane Close
Stafford
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05102679
31 March 2024 30 April 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 211,972 140,043
211,972 140,043
CURRENT ASSETS
Stocks 5 971,773 666,863
Debtors 6 334,535 383,626
Cash at bank and in hand 4,981 15,333
1,311,289 1,065,822
Creditors: Amounts Falling Due Within One Year 7 (1,439,792 ) (1,060,211 )
NET CURRENT ASSETS (LIABILITIES) (128,503 ) 5,611
TOTAL ASSETS LESS CURRENT LIABILITIES 83,469 145,654
Creditors: Amounts Falling Due After More Than One Year 8 - (24,690 )
NET ASSETS 83,469 120,964
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 83,369 120,864
SHAREHOLDERS' FUNDS 83,469 120,964
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For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A L Hughes
Director
12 February 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
E. Ll. Hughes And Sons Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of 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.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. 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 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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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 construction 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 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.
2.3. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold Not provided
Improvements to property Straight line over 20 years
Plant & Machinery 20% on cost
Motor Vehicles 20% on cost
Computer Equipment 20% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
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2.6. Taxation
Taxation for the year comprises current and deferred tax.  Tax is recognised in the Profit and Loss account, 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.
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 assesments 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.
2.7. Pensions
The company operates a defined contribution pension scheme. Contirbutiosn payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2.8. Debtors and creditors receivable / payable within one year
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 profit and loss account in other administrative expenses.
2.9. Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 10 (2023: 11)
10 11
4. Tangible Assets
Land & Property
Freehold Improvements to property Plant & Machinery Motor Vehicles
£ £ £ £
Cost or Valuation
As at 1 May 2023 100,000 - 180,989 387,621
Additions - 95,700 - 13,334
As at 31 March 2024 100,000 95,700 180,989 400,955
Depreciation
As at 1 May 2023 - - 169,894 359,529
Provided during the period - 4,785 3,618 28,370
As at 31 March 2024 - 4,785 173,512 387,899
Net Book Value
As at 31 March 2024 100,000 90,915 7,477 13,056
As at 1 May 2023 100,000 - 11,095 28,092
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Computer Equipment Total
£ £
Cost or Valuation
As at 1 May 2023 5,206 673,816
Additions - 109,034
As at 31 March 2024 5,206 782,850
Depreciation
As at 1 May 2023 4,350 533,773
Provided during the period 332 37,105
As at 31 March 2024 4,682 570,878
Net Book Value
As at 31 March 2024 524 211,972
As at 1 May 2023 856 140,043
5. Stocks
31 March 2024 30 April 2023
£ £
Finished goods 7,639 7,639
Work in progress 964,134 659,224
971,773 666,863
6. Debtors
31 March 2024 30 April 2023
£ £
Due within one year
Trade debtors 199,892 129,731
Prepayments and accrued income 521 6,253
Other debtors - 33,053
Amounts owed by associated companies 134,122 214,589
334,535 383,626
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 30 April 2023
£ £
Net obligations under finance lease and hire purchase contracts - 4,674
Trade creditors 45,515 37,021
Bank loans and overdrafts 2,601 9,013
Other taxes and social security 5,580 -
VAT 800 9,046
Other creditors 3,393 547
...CONTINUED
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Accruals and deferred income 13,028 12,595
Directors' loan accounts 70,679 65,676
Amounts owed to associated companies 1,298,196 921,639
1,439,792 1,060,211
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 30 April 2023
£ £
Bank loans 1 - 2 years - 10,147
Bank loans 2 - 5 years - 14,543
- 24,690
9. Obligations Under Finance Leases and Hire Purchase
31 March 2024 30 April 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 4,674
10. Share Capital
31 March 2024 30 April 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
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