Hughes Parry Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07157256 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Hughes Parry Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms S V Hughes-Parry

Mr T Wilson

SECRETARY:

Mrs R Wilson

REGISTERED OFFICE:

35 High Street

Holywell

Flintshire

CH8 7TE

REGISTERED NUMBER:

07157256 (England and Wales)

ACCOUNTANTS:

DJH Wirral & Chester Limited

Military House

24 Castle Street

Chester

Cheshire

CH1 2DS

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

488

1,698

488

1,698

CURRENT ASSETS

Stocks

85,913

79,561

Debtors

6

68,944

119,089

Cash at bank and in hand

75,280

33,386

230,137

232,036

CREDITORS

Amounts falling due within one year

7

(79,495

)

(92,232

)

NET CURRENT ASSETS

150,642

139,804

TOTAL ASSETS LESS CURRENT
LIABILITIES

151,130

141,502

CREDITORS

Amounts falling due after more than one
year

8

(2,242

)

(19,507

)

PROVISIONS FOR LIABILITIES

(93

)

(323

)

NET ASSETS

148,795

121,672

CAPITAL AND RESERVES

Called up share capital

57,000

Retained earnings

10

91,795

64,672

148,795

121,672

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

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

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 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 31 August 2025 and were signed on its behalf by:

Mr T Wilson - Director

1.	STATUTORY INFORMATION

Hughes Parry 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.

The financial statements are presented in sterling, which is the functional currency of the company, rounded to the nearest £1.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding rebates, discounts, value added tax and other sales taxes. Turnover from the rendering of services is recognised by the stage of completion of the contract.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Work in progress

Work in progress is stated at estimated realisable value, after providing for non-recoverable amounts. Work in progress represents unbilled revenue.

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.

Hire purchase and leasing commitments

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 8 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

30,000

AMORTISATION

At 1 April 2024

and 31 March 2025

30,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

COST

At 1 April 2024

and 31 March 2025

988

760

10,840

12,588

DEPRECIATION

At 1 April 2024

988

760

9,142

10,890

Charge for year

-

1,210

At 31 March 2025

988

760

10,352

12,100

NET BOOK VALUE

At 31 March 2025

-

488

At 31 March 2024

-

1,698

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

60,016

90,397

Other debtors

8,928

28,692

68,944

119,089

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

10,000

Trade creditors

1,880

-

Taxation and social security

38,065

31,391

Other creditors

29,550

50,841

79,495

92,232

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans

2,242

12,444

Other creditors

-

7,063

2,242

19,507

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

Within one year

3,643

5,114

Between one and five years

-

6,969

3,643

12,083

10.

RESERVES

Retained

earnings

£

At 1 April 2024

64,672

Profit for the year

44,123

Dividends

(17,000

)

At 31 March 2025

91,795

11.	RELATED PARTY DISCLOSURES

During the year the Directors loaned to the company a total of £17,624 and were repaid a total of £18,729. The balance outstanding to the directors at 31.03.2025 is £16,693 (2024 - £17,798). the loans are unsecured, interest-free and repayable on demand.