JAMES A. MCHUGH LIMITED 31/12/2024 iXBRL

Company registration number: NI042005

JAMES A. MCHUGH LIMITED

Unaudited filleted financial statements

31 December 2024

JAMES A. MCHUGH LIMITED

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

JAMES A. MCHUGH LIMITED

Directors and other information


	Directors	Kevin McGlinchey
		Kathleen McGlinchey


	Secretary	Kathleen McGlinchey


	Company number	NI042005


	Registered office	20 Carmoney Road
		Eglinton
		Co.Derry
		BT47 3JJ


	Business address	20 Carmoney Road
		Eglinton
		Co.Derry
		BT47 3JJ


	Accountants	McDaid McCullough Moore
		28/32 Clarendon Street
		Derry
		BT48 7HD
		N. Ireland




	Bankers	Allied Irish Bank
		Meadowbank
		Strand Road
		Derry
		BT48 7TN

		Allied Irish Bank
		61 Upper Main Street
		Letterkenny
		Co.Donegal


	Solicitors	Guckian Flanagan
		7 Limavady Road
		Waterside
		Derry
		BT47 6JU

JAMES A. MCHUGH LIMITED

Report to the board of directors on the preparation of the

unaudited statutory financial statements of JAMES A. MCHUGH LIMITED

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of James A.McHugh Limited for the year ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.

This report is made solely to the board of directors of James A.McHugh Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of James A.McHugh Limited and state those matters that we have agreed to state to the board of directors of James A.McHugh Limited as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than James A.McHugh Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that James A.McHugh Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of James A.McHugh Limited. You consider that James A.McHugh Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of James A.McHugh Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

McDaid McCullough Moore

Chartered Accountants

28/32 Clarendon Street

Derry

BT48 7HD

N. Ireland

29 September 2025

JAMES A. MCHUGH LIMITED

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	6	399,171		365,784
		_______		_______
			399,171		365,784

Current assets
Debtors	7	103,568		109,762
Cash at bank and in hand		205,897		94,365
		_______		_______
		309,465		204,127
Creditors: amounts falling due
within one year	8	( 197,458)		( 176,886)
		_______		_______
Net current assets			112,007		27,241
			_______		_______
Total assets less current liabilities			511,178		393,025

Creditors: amounts falling due
after more than one year	9		( 186,240)		( 107,422)

Provisions for liabilities			( 73,913)		( 67,569)

			_______		_______
Net assets			251,025		218,034
			_______		_______

Capital and reserves
Called up share capital	10		100		100
Profit and loss account			250,925		217,934
			_______		_______
Shareholders funds			251,025		218,034
			_______		_______

For the year 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 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.

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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Kevin McGlinchey

Director

Company registration number: NI042005

JAMES A. MCHUGH LIMITED

Statement of changes in equity

Year ended 31 December 2024

£ £ £

Called up share capital Profit and loss account Total

At 1 January 2023 100 213,852 213,952

Profit for the year 49,082 49,082

_______ | _______ | _______ |

Total comprehensive income for the year - 49,082 49,082

Dividends paid and payable ( 45,000 ) ( 45,000 )

_______ | _______ | _______ |

Total investments by and distributions to owners - ( 45,000 ) ( 45,000 )

_______ | _______ | _______ |

At 31 December 2023 and 1 January 2024 100 217,934 218,034

Profit for the year 74,991 74,991

_______ | _______ | _______ |

Total comprehensive income for the year - 74,991 74,991

Dividends paid and payable ( 42,000 ) ( 42,000 )

_______ | _______ | _______ |

Total investments by and distributions to owners - ( 42,000 ) ( 42,000 )

_______ | _______ | _______ |

At 31 December 2024 100 250,925 251,025

_______ | _______ | _______ |

JAMES A. MCHUGH LIMITED

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 20 Carmoney Road, Eglinton, Co.Derry, BT47 3JJ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:


Freehold property	-	Not depreciated
Plant and machinery	-	15 %	straight line
Fittings fixtures and equipment	-	15/20% straight line
Motor vehicles	-	14.25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account on other administrative expenses.

Judgements and key sources of uncertainty

In applying company accounting policies the directors are required to make judgements and estimates on an ongoing basis about the carrying value of the company assets and liabilities. If revision is required, the revision is recognised in that period together with future periods if necessary.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2023: 7 ).

5. Tax on profit

Major components of tax expense

	2024	2023
	£	£
Current tax:
UK current tax expense/income	12,185	( 6,326)
	_______	_______

Deferred tax:
Origination and reversal of timing differences	6,344	17,838
	_______	_______
Tax on profit	18,529	11,512
	_______	_______

6. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	10,155	539	34,569	839,372	884,635
Additions	-	125,000	-	46,221	171,221
Disposals	-	-	-	( 71,322)	( 71,322)
	_______	_______	_______	_______	_______
At 31 December 2024	10,155	125,539	34,569	814,271	984,534
	_______	_______	_______	_______	_______
Depreciation
At 1 January 2024	-	536	34,554	483,762	518,852
Charge for the year	-	18,750	-	104,275	123,025
Disposals	-	-	-	( 56,514)	( 56,514)
	_______	_______	_______	_______	_______
At 31 December 2024	-	19,286	34,554	531,523	585,363
	_______	_______	_______	_______	_______
Carrying amount
At 31 December 2024	10,155	106,253	15	282,748	399,171
	_______	_______	_______	_______	_______
At 31 December 2023	10,155	3	15	355,610	365,783
	_______	_______	_______	_______	_______

7. Debtors

	2024	2023
	£	£
Trade debtors	34,236	49,360
Other debtors	69,332	60,402
	_______	_______
	103,568	109,762
	_______	_______

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	8,314	-
Trade creditors	41,857	64,291
Corporation tax	12,185	-
Social security and other taxes	1,866	-
Other creditors	98,757	73,386
	_______	_______
	162,979	137,677
	_______	_______

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	186,240	107,422
	_______	_______

10. Called up share capital

Issued and called up

	2024		2023
	No	£	No	£
Ordinary shares of £ 1.00 each	100	100	100	100
	_______	_______	_______	_______