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REGISTERED NUMBER: 11148322 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2024

FOR

DAVIS HUGHES PROPERTY LIMITED

DAVIS HUGHES PROPERTY LIMITED (REGISTERED NUMBER: 11148322)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DAVIS HUGHES PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTOR: J C Hughes





REGISTERED OFFICE: 46 Main Street
Mexborough
South Yorkshire
S64 9DU





REGISTERED NUMBER: 11148322 (England and Wales)





ACCOUNTANTS: Leesing Marrison Lee & Co
Chartered Certified Accountants
46 Main Street
Mexborough
South Yorkshire
S64 9DU

DAVIS HUGHES PROPERTY LIMITED (REGISTERED NUMBER: 11148322)

BALANCE SHEET
31ST JULY 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 25,308 37,962
Investment property 5 5,392,460 4,840,714
5,417,768 4,878,676

CURRENT ASSETS
Debtors 6 437,362 260,101

CREDITORS
Amounts falling due within one year 7 760,830 682,936
NET CURRENT LIABILITIES (323,468 ) (422,835 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,094,300

4,455,841

CREDITORS
Amounts falling due after more than one
year

8

(3,309,665

)

(3,229,695

)

PROVISIONS FOR LIABILITIES (354,754 ) (295,163 )
NET ASSETS 1,429,881 930,983

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,429,781 930,883
1,429,881 930,983

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

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 29th April 2025 and were signed by:




J C Hughes - Director


DAVIS HUGHES PROPERTY LIMITED (REGISTERED NUMBER: 11148322)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024

1. STATUTORY INFORMATION

Davis Hughes Property 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.

Income
Income 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.
Motor vehicles - 20% 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.

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.

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.

DAVIS HUGHES PROPERTY LIMITED (REGISTERED NUMBER: 11148322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1st August 2023
and 31st July 2024 63,270
DEPRECIATION
At 1st August 2023 25,308
Charge for year 12,654
At 31st July 2024 37,962
NET BOOK VALUE
At 31st July 2024 25,308
At 31st July 2023 37,962

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st August 2023
and 31st July 2024 63,270
DEPRECIATION
At 1st August 2023 25,308
Charge for year 12,654
At 31st July 2024 37,962
NET BOOK VALUE
At 31st July 2024 25,308
At 31st July 2023 37,962

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st August 2023 4,840,714
Additions 197,607
Revaluations 354,139
At 31st July 2024 5,392,460
NET BOOK VALUE
At 31st July 2024 5,392,460
At 31st July 2023 4,840,714

DAVIS HUGHES PROPERTY LIMITED (REGISTERED NUMBER: 11148322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31st July 2024 is represented by:
£   
Valuation in 2020 280,760
Valuation in 2021 667,491
Valuation in 2022 264,735
Valuation in 2023 300,000
Valuation in 2024 354,139
Cost 3,525,335
5,392,460

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other debtors 437,362 260,101

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 44,251 60,378
Hire purchase contracts 18,941 12,216
Trade creditors 34,827 46,730
Taxation and social security 73,270 45,887
Other creditors 589,541 517,725
760,830 682,936

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans 3,309,665 3,208,495
Hire purchase contracts - 21,200
3,309,665 3,229,695

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,203,331 1,996,162

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 3,344,165 3,250,595

Bank borrowings are secured by fixed and floating charges over the company's assets.

DAVIS HUGHES PROPERTY LIMITED (REGISTERED NUMBER: 11148322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

10. RELATED PARTY DISCLOSURES

The director is interested as director and shareholder in Davis Hughes Limited, Davis Hughes Investments Limited, Davis Hughes Living Limited, Davis Hughes Maintenance Limited, Davis Hughes Holdings Limited, Davis Hughes (Civic Quarter) Limited and Banco Coffee Co. Limited.

Management fees of £105,000 (2023: £500) have been received from Davis Hughes Living Limited during the year.

Loan transactions existed during the year and at the balance sheet date, the following amounts are outstanding and included in other debtors/(other creditors):

2024 2023
£ £
David Hughes Limited (555,080 ) (455,424 )
Davis Hughes Investments Limited 154 154
Davis Hughes Living Limited 105,000 -
Davis Hughes Maintenance Limited 230,420 254,088
Davis Hughes Holdings Limited 60,400 20
Davis Hughes (Civic Quarter) Limited 20 20
Banco Coffee Co. Limited - 300