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Registration number: 05273753

M & S Hughes Building Contractors Limited

Unaudited Filleted Financial Statements

for the Period from 31 October 2023 to 31 December 2024

 

M & S Hughes Building Contractors Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

M & S Hughes Building Contractors Limited

Company Information

Directors

C Hughes

H E Hughes

Company secretary

C Hughes

Registered office

The Old Bakery
50 White Apron Street
South Kirkby Pontefract
West Yorkshire
WF9 3LH

 

M & S Hughes Building Contractors Limited

(Registration number: 05273753)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

96,769

131,899

Current assets

 

Stocks

6

35,560

77,341

Debtors

7

90,085

256,680

Other financial assets

5

150,000

100,000

Cash at bank and in hand

 

177,591

14,555

 

453,236

448,576

Creditors: Amounts falling due within one year

8

(185,877)

(188,203)

Net current assets

 

267,359

260,373

Total assets less current liabilities

 

364,128

392,272

Provisions for liabilities

(18,387)

(25,061)

Net assets

 

345,741

367,211

Capital and reserves

 

Called up share capital

100

100

Retained earnings

345,641

367,111

Shareholders' funds

 

345,741

367,211

 

M & S Hughes Building Contractors Limited

(Registration number: 05273753)
Balance Sheet as at 31 December 2024

For the financial period ending 31 December 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 period 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 18 March 2025 and signed on its behalf by:
 

.........................................
C Hughes
Company secretary and director

   
     
 

M & S Hughes Building Contractors Limited

Notes to the Unaudited Financial Statements for the Period from 31 October 2023 to 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Old Bakery
50 White Apron Street
South Kirkby Pontefract
West Yorkshire
WF9 3LH

These financial statements were authorised for issue by the Board on 18 March 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

M & S Hughes Building Contractors Limited

Notes to the Unaudited Financial Statements for the Period from 31 October 2023 to 31 December 2024

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.

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

Plant & machinery

15% reducing balance

Office equipment

15% reducing balance

Motor vehicles

25% reducing balance

Fixtures & fittings

33% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

M & S Hughes Building Contractors Limited

Notes to the Unaudited Financial Statements for the Period from 31 October 2023 to 31 December 2024

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 10 (2023 - 9).

 

M & S Hughes Building Contractors Limited

Notes to the Unaudited Financial Statements for the Period from 31 October 2023 to 31 December 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 31 October 2023

4,330

4,246

2,600

231,932

Disposals

-

-

-

(18,020)

At 31 December 2024

4,330

4,246

2,600

213,912

Depreciation

At 31 October 2023

4,258

3,763

1,836

101,352

Charge for the period

42

73

186

31,917

Eliminated on disposal

-

-

-

(15,108)

At 31 December 2024

4,300

3,836

2,022

118,161

Carrying amount

At 31 December 2024

30

410

578

95,751

At 30 October 2023

72

483

764

130,580

Total
£

Cost or valuation

At 31 October 2023

243,108

Disposals

(18,020)

At 31 December 2024

225,088

Depreciation

At 31 October 2023

111,209

Charge for the period

32,218

Eliminated on disposal

(15,108)

At 31 December 2024

128,319

Carrying amount

At 31 December 2024

96,769

At 30 October 2023

131,899

 

M & S Hughes Building Contractors Limited

Notes to the Unaudited Financial Statements for the Period from 31 October 2023 to 31 December 2024

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 31 October 2023

100,000

100,000

Additions

150,000

150,000

Disposals

(100,000)

(100,000)

At 31 December 2024

150,000

150,000

Impairment

Carrying amount

At 31 December 2024

150,000

150,000

6

Stocks

2024
£

2023
£

Work in progress

35,560

77,341

7

Debtors

Current

2024
£

2023
£

Trade debtors

76,138

111,150

Prepayments

13,947

2,067

Other debtors

-

143,463

 

90,085

256,680

 

M & S Hughes Building Contractors Limited

Notes to the Unaudited Financial Statements for the Period from 31 October 2023 to 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

119,763

164,193

Taxation and social security

48,995

11,005

Accruals and deferred income

4,296

8,016

Other creditors

12,823

4,989

185,877

188,203

9

Related party transactions

Transactions with directors

2024

At 31 October 2023
£

Repayments by director
£

At 31 December 2024
£

SM Hughes

Advanced amounts are an aggregate. Interest is being charged at 2% p.a. and there are no terms of repayment.

80,974

(80,974)

-

2023

At 31 October 2022
£

Advances to director
£

Repayments by director
£

At 30 October 2023
£

SM Hughes

Advanced amounts are an aggregate. Interest is being charged at 2% p.a. and there are no terms of repayment.

12,568

80,974

(12,568)

80,974