1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 4,759 3,946 203 4,149 610 813 xbrli:pure xbrli:shares iso4217:GBP 08817126 2023-07-01 2024-06-30 08817126 2024-06-30 08817126 2023-06-30 08817126 2022-07-01 2023-06-30 08817126 2023-06-30 08817126 2022-06-30 08817126 bus:Director14 2023-07-01 2024-06-30 08817126 core:WithinOneYear 2024-06-30 08817126 core:WithinOneYear 2023-06-30 08817126 core:ShareCapital 2024-06-30 08817126 core:ShareCapital 2023-06-30 08817126 core:RetainedEarningsAccumulatedLosses 2024-06-30 08817126 core:RetainedEarningsAccumulatedLosses 2023-06-30 08817126 bus:SmallEntities 2023-07-01 2024-06-30 08817126 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08817126 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08817126 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08817126 bus:FullAccounts 2023-07-01 2024-06-30 08817126 core:ComputerEquipment 2023-07-01 2024-06-30 08817126 core:ComputerEquipment 2024-06-30 08817126 core:ComputerEquipment 2023-06-30
COMPANY REGISTRATION NUMBER: 08817126
HUGHES ARMSTRONG INDUSTRIES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2024
HUGHES ARMSTRONG INDUSTRIES LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
610
813
CURRENT ASSETS
Debtors
6
15,340
27,194
Cash at bank and in hand
82,641
57,036
--------
--------
97,981
84,230
CREDITORS: amounts falling due within one year
7
44,324
93,357
--------
--------
NET CURRENT ASSETS/(LIABILITIES)
53,657
( 9,127)
--------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
54,267
( 8,314)
--------
-------
NET ASSETS/(LIABILITIES)
54,267
( 8,314)
--------
-------
CAPITAL AND RESERVES
Called up share capital fully paid
1,000
1,000
Profit and loss account
53,267
( 9,314)
--------
-------
SHAREHOLDERS FUNDS/(DEFICIT)
54,267
( 8,314)
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HUGHES ARMSTRONG INDUSTRIES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
Mr A D Tyson
Director
Company registration number: 08817126
HUGHES ARMSTRONG INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1A & 1B, Leyland Business Park, Centurion Way, Farrington, Leyland, PR25 3GR.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the shareholders.
On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2023: Nil).
5. TANGIBLE ASSETS
Equipment
£
Cost
At 1 July 2023 and 30 June 2024
4,759
-------
Depreciation
At 1 July 2023
3,946
Charge for the year
203
-------
At 30 June 2024
4,149
-------
Carrying amount
At 30 June 2024
610
-------
At 30 June 2023
813
-------
6. DEBTORS
2024
2023
£
£
Trade debtors
15,000
16,284
Other debtors
340
10,910
--------
--------
15,340
27,194
--------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
25,024
51,713
Corporation tax
3,388
Social security and other taxes
12,837
11,985
Other creditors
3,075
29,659
--------
--------
44,324
93,357
--------
--------
8. GOING CONCERN
The directors have considered the period to 31 March 2026 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy it's liabilities as these become payable, or alternatively will be sold as a going concern.