Howden Enterprises Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI635402

Howden Enterprises Ltd

Filleted Financial Statements

31 December 2024

Howden Enterprises Ltd

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3

Howden Enterprises Ltd

Officers and Professional Advisers

The board of directors	Mr E Hughes
	Mr K Hughes
	Mr CO Hughes

Company secretary	Mr B Hughes

Registered office	118 Trew Mount Road
	Dungannon
	Co Tyrone
	BT71 7EF

Auditor	Maneely Mc Cann Audit Limited
	Chartered Accountants & Statutory Auditors
	Aisling House
	50 Stranmillis Embankment
	Belfast
	BT9 5FL

Bankers	Allied Irish Bank (NI)
	18-20 Scotch Street
	Dungannon
	Co. Tyrone
	BT70 1AZ

	HSBC UK
	52/56 Meadow Lane
	Portadown
	Craigavon
	Co. Armagh
	BT62 3NJ

Howden Enterprises Ltd

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	16,528,239	13,889,624

Current assets

Stocks		352,062	289,053
Debtors	6	881,406	896,957
Cash at bank and in hand		–	48,725
		------------	------------
		1,233,468	1,234,735

Creditors: amounts falling due within one year	7	2,499,375	3,169,062
		------------	------------
Net current liabilities		1,265,907	1,934,327
		-------------	-------------
Total assets less current liabilities		15,262,332	11,955,297

Creditors: amounts falling due after more than one year	8	8,203,730	16,064,773

Provisions	–	408,608
	-------------	-------------
Net assets/(liabilities)	7,058,602	( 4,518,084)
	-------------	-------------

Capital and reserves

Called up share capital	10	1	1
Profit and loss account		7,058,601	( 4,518,085)
		------------	------------
Shareholders funds/(deficit)		7,058,602	( 4,518,084)
		------------	------------

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

Mr K Hughes

Director

Company registration number: NI635402

Howden Enterprises Ltd

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 118 Trew Mount Road, Dungannon, Co Tyrone, BT71 7EF.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Hughes Family Holdings Limited which can be obtained from 118 Trewmount Road, Dungannon, Co. Tyrone, BT71 7EF. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company.

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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Exceptional items

Included within the Income Statement is £12,336,543 in relation to intercompany loan write offs.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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:

Freehold property	-	2% straight line
Plant and machinery	-	5%-15% reducing balance
Fixtures and fittings	-	5%-15% reducing balance
Motor vehicles	-	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. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Due to the nature of the stock, the use of accounting for Biological Assets at Fair Value has been adopted as per FRS 102 Paragraph 34.

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a 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.

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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 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 as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 47 (2023: 48 ).

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	9,000,412	8,072,215	82,999	10,455	17,166,081
Additions	1,410,634	2,035,783	3,000	4,850	3,454,267
	-------------	-------------	--------	--------	-------------
At 31 December 2024	10,411,046	10,107,998	85,999	15,305	20,620,348
	-------------	-------------	--------	--------	-------------
Depreciation
At 1 January 2024	970,088	2,256,346	43,991	6,032	3,276,457
Charge for the year	291,420	516,306	6,012	1,914	815,652
	-------------	-------------	--------	--------	-------------
At 31 December 2024	1,261,508	2,772,652	50,003	7,946	4,092,109
	-------------	-------------	--------	--------	-------------
Carrying amount
At 31 December 2024	9,149,538	7,335,346	35,996	7,359	16,528,239
	-------------	-------------	--------	--------	-------------
At 31 December 2023	8,030,324	5,815,869	39,008	4,423	13,889,624
	-------------	-------------	--------	--------	-------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 31 December 2024	588,600
	---------
At 31 December 2023	–
	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	76,668	45,391
Amounts owed by group undertakings and undertakings in which the company has a participating interest	33,024	36,278
Other debtors	771,714	815,288
	---------	---------
	881,406	896,957
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	1,019,107	784,201
Trade creditors	593,718	1,848,506
Social security and other taxes	295,231	274,641
Other creditors	591,319	261,714
	------------	------------
	2,499,375	3,169,062
	------------	------------

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

	2024	2023
	£	£
Bank loans and overdrafts	4,023,310	4,520,973
Amounts owed to group undertakings and undertakings in which the company has a participating interest	3,500,000	11,543,800
Other creditors	680,420	–
	------------	-------------
	8,203,730	16,064,773
	------------	-------------

Bank overdrafts and loans are secured by incorporating a fixed and floating charge over the company's assets; and a specific charge over the land at Howden Road, England.

9. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2024	2023
	£	£

Recognised in creditors:

Deferred government grants due within one year	9,449	–
Deferred government grants due after more than one year	179,527	–
	---------	----
	188,976	–
	---------	----

10. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

11. Summary audit opinion

The auditor's report dated 23 December 2025 was unqualified , however, the auditor drew attention to the following by way of emphasis.

In forming our opinion on the financial statements, which is not modified in relation to going concern, we have considered the adequacy of the disclosures made in note 3 to the financial statements in relation to the company's lenders and creditors. The financial statements have been prepared on a going concern basis, the validity of which depends on the continued support of its fellow group companies. The financial statements do not include any adjustments which would result if this continued support was not secured. In view of the uncertainty on the validly of the going concern basis, we consider that it should be brought to your attention.

The senior statutory auditor was Cathal Maneely , for and on behalf of Maneely Mc Cann Audit Limited .

12. Related party transactions

Control The company is a wholly owned subsidiary of K. Hughes & Co. Limited, a company incorporated in Northern Ireland, which is a wholly owned subsidiary of Hughes Family Holdings Limited, a company incorporated in Northern Ireland. Mr K Hughes is deemed the ultimate controlling party by virtue of his shareholding in Hughes Family Holdings Limited. Transactions The company has taken advantage of the exemption from disclosing related party transactions with group companies, in accordance with Financial Reporting Standard No 102 Section 1A Appendix C, Related Party Disclosures.

13. Ultimate parent company

Hughes Family Holdings Limited is the ultimate parent company. Copies of consolidated financial statements may be obtained from 118 Trewmount Road, Dungannon, BT71 7EF.