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COMPANY REGISTRATION NUMBER: NI635585
K Hughes Estates Limited
Filleted Financial Statements
31 December 2024
K Hughes Estates Limited
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
K Hughes Estates Limited
Officers and Professional Advisers
The board of directors
Mr C Hughes
Mr E Hughes
Mr K Hughes
Registered office
118 Trewmount Road
Dungannon
Tyrone
Northern Ireland
BT71 7EF
Auditor
Maneely Mc Cann Audit Limited
Chartered Accountants & Statutory Auditors
Aisling House
50 Stranmillis Embankment
Belfast
BT9 5FL
Bankers
HSBC Bank UK PLC
25-29 Royal Avenue
Belfast
BT1 1FB
K Hughes Estates Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Current assets
Debtors
4
3,500,010
10
Creditors: amounts falling due within one year
5
605,373
–
------------
----
Net current assets
2,894,637
10
------------
----
Total assets less current liabilities
2,894,637
10
Creditors: amounts falling due after more than one year
6
2,894,627
–
------------
----
Net assets
10
10
------------
----
Capital and reserves
Called up share capital
10
10
----
----
Shareholders funds
10
10
----
----
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: NI635585
K Hughes Estates Limited
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 Trewmount Road, Dungannon, Tyrone, BT71 7EF, Northern Ireland.
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.
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.
4. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
3,500,000
–
Other debtors
10
10
------------
----
3,500,010
10
------------
----
5. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
605,373
–
---------
----
Bank loans of the company are secured by way of fixed and floating charges on all the property and undertakings of the company.
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,894,627
–
------------
----
7. Summary audit opinion
The auditor's report dated 23 December 2025 was unqualified .
The senior statutory auditor was Cathal Maneely , for and on behalf of Maneely Mc Cann Audit Limited .
8. Related party transactions
Control The company 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.
9. Controlling party
Hughes Family Holdings Limited is the ultimate parent company. Copies of the consolidated financial statements may be obtained from 118 Trewmount Road, Dungannon, BT71 7EF.