REGISTERED NUMBER: 12982330 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

P HUGHES MANAGEMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P J Hughes

REGISTERED OFFICE:

Oil Depot

242 London Road

Stretton- on- Dunsmore

Coventry

CV23 9JA

REGISTERED NUMBER:

12982330 (England and Wales)

ACCOUNTANTS:

Askews Chartered Certified Accountants

5 The Quadrant

Coventry

West Midlands

CV1 2EL

FIXED ASSETS

Tangible assets

4

267,400

785

CURRENT ASSETS

Debtors

5

46,373

25,690

Cash at bank

-

2,340

46,373

28,030

CREDITORS

Amounts falling due within one year

6

302,428

27,659

NET CURRENT (LIABILITIES)/ASSETS

(256,055

)

371

TOTAL ASSETS LESS CURRENT LIABILITIES

11,345

1,156

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

11,245

1,056

11,345

1,156

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 29 October 2025 and were signed by:

P J Hughes - Director

1.	STATUTORY INFORMATION

P Hughes Management Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Plant and machinery etc - 33% on cost

Financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measured at

transaction price including transaction costs and are subsequently carried at amortised cost using the

effective interest method unless the arrangement constitutes a financing transaction, where the

transaction is measured at the present value of the future receipts discounted at a market rate of

interest. Financial assets classified as receivable within one year are not amortised.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Computer

property

equipment

Totals

£

£

£

COST

At 1 November 2023

-

2,332

2,332

Additions

267,384

-

267,384

At 31 October 2024

267,384

2,332

269,716

DEPRECIATION

At 1 November 2023

-

1,547

1,547

Charge for year

-

769

769

At 31 October 2024

-

2,316

2,316

NET BOOK VALUE

At 31 October 2024

267,384

16

267,400

At 31 October 2023

-

785

785

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

(12,000

)

Other debtors

46,373

37,690

46,373

25,690

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

8,978

-

Trade creditors

280

380

Taxation and social security

22,866

25,993

Other creditors

270,304

1,286

302,428

27,659

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director operated a loan with the company with no fixed terms of repayment or interest. Amounts advanced during the year were £74,180 (2022 £4,119) and repayments during the year were £50,120 (2022 £5,903). At the year end the amount owing to the company was £28,180 (2022 £4,119).