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REGISTERED NUMBER: 04719142 (England and Wales)










Financial Statements

for the Year Ended 30 June 2024

for

Hughes & Co (Shropshire) Limited

Hughes & Co (Shropshire) Limited (Registered number: 04719142)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hughes & Co (Shropshire) Limited

Company Information
for the Year Ended 30 June 2024







Director: Mr D Hughes





Secretary: Mrs V L Hughes





Registered office: The Stables
Broseley Hall
Church Street
Broseley
Shrosphire
TF12 5DG





Registered number: 04719142 (England and Wales)






Hughes & Co (Shropshire) Limited (Registered number: 04719142)

Balance Sheet
30 June 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 45,909 51,266

Current assets
Debtors 5 45,649 44,351
Cash at bank 10 10
45,659 44,361
Creditors
Amounts falling due within one year 6 44,883 44,629
Net current assets/(liabilities) 776 (268 )
Total assets less current liabilities 46,685 50,998

Creditors
Amounts falling due after more than one
year

7

30,070

34,658
Net assets 16,615 16,340

Capital and reserves
Called up share capital 8 100 100
Retained earnings 9 16,515 16,240
Shareholders' funds 16,615 16,340

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Hughes & Co (Shropshire) Limited (Registered number: 04719142)

Balance Sheet - continued
30 June 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 August 2024 and were signed by:





Mr D Hughes - Director


Hughes & Co (Shropshire) Limited (Registered number: 04719142)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Hughes & Co (Shropshire) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
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.
Fixtures and fittings - at varying rates on cost
Motor vehicles - 25% on reducing balance

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.

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.

Hughes & Co (Shropshire) Limited (Registered number: 04719142)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£ £ £
Cost
At 1 July 2023 47,460 29,349 76,809
Additions 9,280 - 9,280
Disposals (3,868 ) - (3,868 )
At 30 June 2024 52,872 29,349 82,221
Depreciation
At 1 July 2023 16,830 8,713 25,543
Charge for year 7,931 5,159 13,090
Eliminated on disposal (2,321 ) - (2,321 )
At 30 June 2024 22,440 13,872 36,312
Net book value
At 30 June 2024 30,432 15,477 45,909
At 30 June 2023 30,630 20,636 51,266

Hughes & Co (Shropshire) Limited (Registered number: 04719142)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
Cost
At 1 July 2023
and 30 June 2024 29,349
Depreciation
At 1 July 2023 8,713
Charge for year 5,159
At 30 June 2024 13,872
Net book value
At 30 June 2024 15,477
At 30 June 2023 20,636

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 42,931 44,351
Amounts owed by associates 2,718 -
45,649 44,351

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 16,835 5,947
Other loans 4,998 4,247
Hire purchase contracts 3,868 3,868
Trade creditors 1,090 8,883
Corporation tax 4,379 11,877
Social security and other taxes 3,104 1,696
VAT 8,622 6,373
Other creditors 1,698 1,649
Directors' current accounts 289 89
44,883 44,629

Hughes & Co (Shropshire) Limited (Registered number: 04719142)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other loans - 1-2 years 16,259 17,538
Hire purchase contracts 13,811 17,120
30,070 34,658

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £ £
100 Share capital 1 1 100 100

9. RESERVES
Retained
earnings
£

At 1 July 2023 16,240
Profit for the year 58,275
Dividends (58,000 )
At 30 June 2024 16,515

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D Hughes.