Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false2023-07-014Hotel and accommodation4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10804671 2023-07-01 2024-06-30 10804671 2022-07-01 2023-06-30 10804671 2024-06-30 10804671 2023-06-30 10804671 c:Director1 2023-07-01 2024-06-30 10804671 d:PlantMachinery 2023-07-01 2024-06-30 10804671 d:PlantMachinery 2024-06-30 10804671 d:PlantMachinery 2023-06-30 10804671 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10804671 d:FurnitureFittings 2023-07-01 2024-06-30 10804671 d:FurnitureFittings 2024-06-30 10804671 d:FurnitureFittings 2023-06-30 10804671 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10804671 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10804671 d:CurrentFinancialInstruments 2024-06-30 10804671 d:CurrentFinancialInstruments 2023-06-30 10804671 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 10804671 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10804671 d:ShareCapital 2024-06-30 10804671 d:ShareCapital 2023-06-30 10804671 d:RetainedEarningsAccumulatedLosses 2024-06-30 10804671 d:RetainedEarningsAccumulatedLosses 2023-06-30 10804671 c:FRS102 2023-07-01 2024-06-30 10804671 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10804671 c:FullAccounts 2023-07-01 2024-06-30 10804671 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10804671 2 2023-07-01 2024-06-30 10804671 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 10804671









HUGHES LEGACY HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
HUGHES LEGACY HOLDINGS LIMITED
REGISTERED NUMBER: 10804671

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,648
865

  
5,648
865

Current assets
  

Stocks
 5 
1,250
1,285

Debtors: amounts falling due within one year
 6 
34,622
9,266

Cash at bank and in hand
 7 
307,240
357,323

  
343,112
367,874

Creditors: amounts falling due within one year
 8 
(105,279)
(128,606)

Net current assets
  
 
 
237,833
 
 
239,268

Total assets less current liabilities
  
243,481
240,133

  

Net assets
  
243,481
240,133


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
243,479
240,131

  
243,481
240,133

Page 1

 
HUGHES LEGACY HOLDINGS LIMITED
REGISTERED NUMBER: 10804671
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 March 2025.




................................................
David Hughes
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
HUGHES LEGACY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Hughes Legacy Holdings Limited is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was that of hotel and similar accommodation.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
HUGHES LEGACY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
HUGHES LEGACY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
HUGHES LEGACY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 July 2023
-
1,366
1,366


Additions
6,667
-
6,667



At 30 June 2024

6,667
1,366
8,033



Depreciation


At 1 July 2023
-
501
501


Charge for the year on owned assets
1,667
217
1,884



At 30 June 2024

1,667
718
2,385



Net book value



At 30 June 2024
5,000
648
5,648



At 30 June 2023
-
865
865

Page 6

 
HUGHES LEGACY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
1,250
1,285

1,250
1,285



6.


Debtors

2024
2023
£
£


Amounts owed by joint ventures and associated undertakings
3,996
2,124

Other debtors
29,830
6,185

Prepayments and accrued income
796
957

34,622
9,266



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
307,240
357,323

307,240
357,323

Page 7

 
HUGHES LEGACY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to joint ventures
-
46,731

Corporation tax
-
19,058

Other taxation and social security
38,437
37,137

Other creditors
59,492
18,330

Accruals and deferred income
7,350
7,350

105,279
128,606



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £132 (2023 - £410). Contributions totalling £Nil (2023 - £239) were payable to the fund at the balance sheet date.


10.


Controlling party

The Company is controlled by David and Claire Hughes, by virtue of their shareholding, as described in the directors' report.
 
Page 8