Ron Hughes HPS Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10135394

RON HUGHES HPS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 May 2025

RON HUGHES HPS LIMITED

STATEMENT OF FINANCIAL POSITION

31 May 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	42,339	12,433

Current assets

Stocks		7,865	7,156
Debtors	6	46,441	27,514
Cash at bank and in hand		56,693	65,202
		---------	--------
		110,999	99,872

Creditors: amounts falling due within one year	7	64,818	67,243
		---------	--------
Net current assets		46,181	32,629
		--------	--------
Total assets less current liabilities		88,520	45,062

Creditors: amounts falling due after more than one year	8	13,344	–

Provisions	8,064	2,362
	--------	--------
Net assets	67,112	42,700
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	67,012	42,600
	--------	--------
Shareholders funds	67,112	42,700
	--------	--------

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.

For the year ending 31 May 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 .

RON HUGHES HPS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 May 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 I G Robinson-Hughes

Director

Company registration number: 10135394

RON HUGHES HPS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 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 92-94 High Street, Porthmadog, Gwynedd, LL49 9NW.

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.

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.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant and machinery	-	15% reducing balance
Motor vehicle	-	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. For the purposes of impairment testing, 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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 3 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 June 2024	5,109	24,450	29,559
Additions	3,447	37,991	41,438
Disposals	–	( 1,500)	( 1,500)
	-------	--------	--------
At 31 May 2025	8,556	60,941	69,497
	-------	--------	--------
Depreciation
At 1 June 2024	3,235	13,891	17,126
Charge for the year	800	10,596	11,396
Disposals	–	( 1,364)	( 1,364)
	-------	--------	--------
At 31 May 2025	4,035	23,123	27,158
	-------	--------	--------
Carrying amount
At 31 May 2025	4,521	37,818	42,339
	-------	--------	--------
At 31 May 2024	1,874	10,559	12,433
	-------	--------	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	31,691	20,692
Other debtors	14,750	6,822
	--------	--------
	46,441	27,514
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	8,070	1,943
Corporation tax	21,310	24,616
Social security and other taxes	3,135	10,615
Other creditors	32,303	30,069
	--------	--------
	64,818	67,243
	--------	--------

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

	2025	2024
	£	£
Other creditors	13,344	–
	--------	----

9. Directors' advances, credits and guarantees

There are no Directors advances, credits or guarantees that need to be disclosed in the financial statements.