| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 |
| FOR |
| MCHUGH DEVELOPMENTS LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 |
| FOR |
| MCHUGH DEVELOPMENTS LIMITED |
| MCHUGH DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI047943) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 5 APRIL 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Report of the Accountants | 7 |
| MCHUGH DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 5 APRIL 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 6 East Bridge Street |
| Enniskillen |
| Co. Fermanagh |
| BT74 7BT |
| MCHUGH DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI047943) |
| BALANCE SHEET |
| 5 APRIL 2025 |
| 5.4.25 | 5.4.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| MCHUGH DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI047943) |
| BALANCE SHEET - continued |
| 5 APRIL 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| MCHUGH DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI047943) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 5 APRIL 2025 |
| 1. | STATUTORY INFORMATION |
| McHugh Developments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the rent received from property. |
| Tangible fixed assets |
| All fixed assets are initially recorded at cost. |
| Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its estimated useful life as follows:- |
| Fixtures and fittings - 20% on reducing balance |
| Motor Vehicles - 25% on reducing balance |
| 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. |
| 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. |
| Investment properties |
| Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
| Investments are included at cost less amounts written off. Profits and losses arising from disposals of fixed asset investments are treated as part of the results from ordinary activities. |
| MCHUGH DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI047943) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 5 APRIL 2025 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 6 April 2024 |
| Additions |
| At 5 April 2025 |
| DEPRECIATION |
| At 6 April 2024 |
| Charge for year |
| At 5 April 2025 |
| NET BOOK VALUE |
| At 5 April 2025 |
| At 5 April 2024 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 6 April 2024 |
| Disposals | ( |
) |
| At 5 April 2025 |
| NET BOOK VALUE |
| At 5 April 2025 |
| At 5 April 2024 |
| Investment properties at Colenso Parade Belfast, Church Hill Omagh and College Gardens Belfast are included at cost as a reflection of fair value. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 5.4.25 | 5.4.24 |
| £ | £ |
| Prepayments and accrued income |
| MCHUGH DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI047943) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 5 APRIL 2025 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 5.4.25 | 5.4.24 |
| £ | £ |
| Loan | - | 76,400 |
| Credit Card |
| Directors' current accounts | 1,208,368 | 1,407,526 |
| Prepaid income |
| Accruals |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 5.4.25 | 5.4.24 |
| £ | £ |
| Bank loans more 5 yr by instal |
| Loan - 1-2 years | - | 76,400 |
| Loan - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | - | 303,052 |
| The bank loan is secured by a fixed charge over the investment properties of the company. |
| 9. | PROVISIONS FOR LIABILITIES |
| 5.4.25 | 5.4.24 |
| £ | £ |
| Deferred tax | 4,812 | 6,217 |
| Deferred |
| tax |
| £ |
| Balance at 6 April 2024 |
| Credit to Income Statement during year | ( |
) |
| Balance at 5 April 2025 |
| 10. | GOING CONCERN |
| At 5 April 2025 the company's liabilities exceeded its assets by £435,883. The company is dependant on the continuing support of its directors in order to meet its commitments as they fall due. |
| On the basis that the directors continues to financially support the company, they believe it can continue as a going concern. |
| MCHUGH DEVELOPMENTS LIMITED |
| REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
| MCHUGH DEVELOPMENTS LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 5 April 2025 set out on pages one to seven and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| Chartered Accountants |
| 6 East Bridge Street |
| Enniskillen |
| Co. Fermanagh |
| BT74 7BT |