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REGISTERED NUMBER: 00633050 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2025

for

T. P. Hughes And Son Limited

T. P. Hughes And Son Limited (Registered number: 00633050)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


T. P. Hughes And Son Limited

Company Information
for the Year Ended 31 January 2025







DIRECTORS: C.M.L Hughes
Mrs A J L Worley



SECRETARY: Mrs A J L Worley



REGISTERED OFFICE: 13A Upper Frog Street
Tenby
Pembrokeshire
SA70 7JD



REGISTERED NUMBER: 00633050 (England and Wales)



BANKERS: Barclays Bank Plc
18 High Street
Tenby
Pembrokeshire
SA70 7HD

T. P. Hughes And Son Limited (Registered number: 00633050)

Abridged Balance Sheet
31 January 2025

31.1.25 31.1.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 109,534 126,032
Investment property 5 600,000 600,000
709,534 726,032

CURRENT ASSETS
Stocks 113,994 125,194
Debtors 10,931 26,840
Cash at bank and in hand 167,171 187,279
292,096 339,313
CREDITORS
Amounts falling due within one year 441,641 445,201
NET CURRENT LIABILITIES (149,545 ) (105,888 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

559,989

620,144

PROVISIONS FOR LIABILITIES 7,739 7,739
NET ASSETS 552,250 612,405

CAPITAL AND RESERVES
Called up share capital 10,017 10,017
Share premium 24,036 24,036
Capital redemption reserve 4,107 4,107
Fair value reserve 6 593,564 593,564
Retained earnings (79,474 ) (19,319 )
SHAREHOLDERS' FUNDS 552,250 612,405

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

T. P. Hughes And Son Limited (Registered number: 00633050)

Abridged Balance Sheet - continued
31 January 2025


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:




C.M.L Hughes - Director



Mrs A J L Worley - Director


T. P. Hughes And Son Limited (Registered number: 00633050)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

T. P. Hughes And Son 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 as modified by the revaluation of certain assets.

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.
Freehold property - 2.5% on cost
Leasehold property - over the term of the lease
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Leases and hire purchase contracts
Rentals paid under operating leases are charged to income as incurred.


T. P. Hughes And Son Limited (Registered number: 00633050)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
Pension contributions payable are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 10 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2024
and 31 January 2025 712,694
DEPRECIATION
At 1 February 2024 586,662
Charge for year 16,498
At 31 January 2025 603,160
NET BOOK VALUE
At 31 January 2025 109,534
At 31 January 2024 126,032

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024
and 31 January 2025 600,000
NET BOOK VALUE
At 31 January 2025 600,000
At 31 January 2024 600,000

Fair value at 31 January 2025 is represented by:
£   
Valuation in 2024 520,123
Cost 79,877
600,000

The directors have recorded the company's investment properties at their fair value.

6. RESERVES
Fair
value
reserve
£   
At 1 February 2024
and 31 January 2025 593,564

T. P. Hughes And Son Limited (Registered number: 00633050)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

7. RELATED PARTY DISCLOSURES

The company paid rent of £760 (2024 £760) to Hughes Properties Limited, a company connected to the company's directors. At the balance sheet date an amount of £370,636 (2024 £371,180) was owed to this company.