Joseph Hughes & Sons Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 0593832

Joseph Hughes & Sons Limited

Filleted unaudited financial statements

31 August 2025

Joseph Hughes & Sons Limited

Statement of financial position

31 August 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Intangible assets	5	1,227	1,227
Tangible assets	6	211,895	264,130
		---------	---------
		213,122	265,357

Current assets

Stocks		24,779	31,784
Debtors	7	298,900	461,788
Cash at bank and in hand		347,705	245,966
		---------	---------
		671,384	739,538

Creditors: amounts falling due within one year	8	210,459		337,858
		---------		---------
Net current assets			460,925		401,680
			---------		---------
Total assets less current liabilities			674,047		667,037

Provisions

Taxation including deferred tax	25,368	35,252
	---------	---------
Net assets	648,679	631,785
	---------	---------

Capital and reserves

Called up share capital	10,000	10,000
Profit and loss account	638,679	621,785
	---------	---------
Shareholders funds	648,679	631,785
	---------	---------

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 income and retained earnings has not been delivered.

For the year ending 31st August 2025 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 .

Joseph Hughes & Sons Limited

Statement of financial position (continued)

31 August 2025

These financial statements were approved by the board of directors and authorised for issue on 3 December 2025 , and are signed on behalf of the board by:

Mr M R Hughes

Director

Company registration number: 0593832

Joseph Hughes & Sons Limited

Notes to the financial statements

Year ended 31st August 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Black Flag Works, Pottery Street, Whitwood Mere, Castleford, WF10 1NJ.

2. Statement of compliance

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Deferred tax - At 31st August 2025 a deferred tax liability of £25,368 in respect of timing differences is recognised (2024 - £35,252), principally in respect of accelerated capital allowances. Tangible fixed asset lives - The carrying value of tangible fixed assets, £211,895 at 31st August 2025 (2024 - £264,130), requires the Directors to make an estimate of the assets' useful economic lives and undertake an annual review for impairment. The estimated lives applied are detailed in the accounting policy note on depreciation.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

Deferred tax is recognised in respect of all timing differences at the reporting date. 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.

Intangible assets

Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses. Private registrations have not been amortised as there is an active market for the assets and it is not expected that the residual value will be less than the initial cost.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Investment property is carried at revalued amounts, recorded at the fair value at the date of revaluation. An increase or decrease in the carrying amount of investment property because of a revaluation, is recognised in profit or loss and accumulated in equity. Land and buildings, other than investment properties, are stated at original cost less accumulated depreciation. Parts of the Company's land and buildings at Black Flag Works are held for use in operating leases. FRS102 requires investment property to be separated and shown at fair value if the investment property could be sold separately. As that part of the property used in operating leases varies from year to year and has shared access with the remaining property making a separate sale difficult, no separation has been carried out and no disclosure of the fair value of that relevant part of land and buildings has been made in this respect.

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	-	4% straight line
Plant and machinery	-	25% reducing balance

Impairment of fixed assets

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.

Stocks

Stocks are measured at cost. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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 as a finance cost in profit or loss in the period it arises.

Financial instruments

Basic financial instruments are recognised at transaction price. The company holds the following financial assets and liabilities: Cash Short-term trade and other debtors and creditors Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. These balances are recorded at transaction price. 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 and loss account before operating profit.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Staff costs

The average number of persons employed by the company during the year amounted to 13 (2024: 15 ).

The aggregate employment costs incurred during the year were:

	2025	2024
	£	£
Wages and salaries	807,796	856,963
Social security costs	50,349	58,167
Other pension costs	38,490	40,399
	---------	---------
	896,635	955,529
	---------	---------

5. Intangible assets

	Private registrations
	£
Cost
At 1st September 2024 and 31st August 2025	1,227
	--------
Amortisation
At 1st September 2024 and 31st August 2025	–
	--------
Carrying amount
At 31st August 2025	1,227
	--------
At 31st August 2024	1,227
	--------

6. Tangible assets

	Land and buildings	Plant and machinery	Investment property	Total
	£	£	£	£
Cost
At 1st September 2024	107,263	1,648,018	68,000	1,823,281
Disposals	–	( 282,350)	–	( 282,350)
	---------	------------	--------	------------
At 31st August 2025	107,263	1,365,668	68,000	1,540,931
	---------	------------	--------	------------
Depreciation
At 1st September 2024	104,086	1,455,065	–	1,559,151
Charge for the year	212	46,977	–	47,189
Disposals	–	( 277,304)	–	( 277,304)
	---------	------------	--------	------------
At 31st August 2025	104,298	1,224,738	–	1,329,036
	---------	------------	--------	------------
Carrying amount
At 31st August 2025	2,965	140,930	68,000	211,895
	---------	------------	--------	------------
At 31st August 2024	3,177	192,953	68,000	264,130
	---------	------------	--------	------------

The investment property at 2 Armitage Street, Castleford was acquired on 27th August 2015 for the open market price of £75,418 including legal fees. It was valued at £68,000 on 31st August 2020 by Park Row Estate Agents based on their research into the current market and their extensive local knowledge. The Directors have considered the valuation as of 31st August 2025 and they do not expect it to have changed significantly since 31st August 2020.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Investment property
	£
At 31st August 2025
Aggregate cost	75,418
Aggregate depreciation	–
	--------
Carrying value	75,418
	--------

At 31st August 2024
Aggregate cost	75,418
Aggregate depreciation	–
	--------
Carrying value	75,418
	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	247,526	309,778
Other debtors	51,374	152,010
	---------	---------
	298,900	461,788
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	81,188	177,689
Corporation tax	20,693	14,986
Social security and other taxes	13,235	18,289
Other creditors	95,343	126,894
	---------	---------
	210,459	337,858
	---------	---------

The Company has an overdraft facility of £80,000, which is secured on the Company's freehold property.