G.S. Hughes (Holdings) Limited


Directors	A Y Hughes
	G Hughes
	J A Hughes
	S A Hughes


Company Secretary	HUGHES, Sarah Ann


Registered Address	Fosseway 46 Business Park Newark Road
	Aubourn
	Lincoln
	LN5 9EJ


Registered Number	04213290 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Plant and machinery	25	-
Fixtures and fittings	15	-
Vehicles	25	-

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 24	1,579,793	1,249,123	62,115	49,813	2,940,844
Additions	-	-	2,000	-	2,000
Disposals	-	(18,000)	(2,000)	-	(20,000)
At 31 March 25	1,579,793	1,231,123	62,115	49,813	2,922,844
Depreciation and impairment
At 01 April 24	197,461	684,567	9,318	38,997	930,343
Charge for year	31,596	84,541	8,221	1,626	125,984
On disposals	-	(17,112)	-	-	(17,112)
At 31 March 25	229,057	751,996	17,539	40,623	1,039,215
Net book value
At 31 March 25	1,350,736	479,127	44,576	9,190	1,883,629
At 31 March 24	1,382,332	564,556	52,797	10,816	2,010,501

4.	Investment property
	There has been no valuation of the investment property by an independent valuer, however the directors have reviewed the valuation and feel that the value in the accounts reflects the current fair value.


		£
	Fair value at 01 April 24	130,480
	Additions	560,000
	At 31 March 25	690,480

5.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 April 24	251	251
At 31 March 25	251	251
Net book value
At 31 March 25	251	251
At 31 March 24	251	251

	Notes
	¹Investments in group undertakings and participating interests

6.	Stocks

	2025	2024
	£	£
Work in progress	1,396,289	588,989
Total	1,396,289	588,989

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	64,659	42,464
Amounts owed by group undertakings	342,185	421,443
Other debtors	749,651	298,224
Prepayments and accrued income	4,669	3,113
Total	1,161,164	765,244

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	280,273	52,816
Amounts owed to related parties	180,126	-
Taxation and social security	184,874	26,983
Other creditors	10,591	8,654
Accrued liabilities and deferred income	29,630	27,148
Total	685,494	115,601

9.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	96,248	109,563
Total	96,248	109,563

10.	Related party transactions
	Other transactions with directors A loan account exists between the company and its directors on which interest has been charged at the official HM Revenue and Customs rate for beneficial loans. At the balance sheet date, the amount owed by G & S A Hughes to the company was £403,053 (2024 - £255,171). Summary of transactions with all subsidiaries Loan accounts exist between the company and its subsidiaries G S Hughes Ltd, Harmston Waste Management Limited and Ponton Quarries Limited. At the balance sheet date, the amounts owed to this company by Harmston Waste Management Limited £125,954 (2024 - £191,205) and by Ponton Quarries Limited £216,231 (2024 - £216,231). At the balance sheet date, the amounts owed by this company to G S Hughes Ltd were £180,126 (2024 - £14,007 debtor),

10.

Related party transactions

Other transactions with directors
A loan account exists between the company and its directors on which interest has been charged at the official HM Revenue and Customs rate for beneficial loans. At the balance sheet date, the amount owed by G & S A Hughes to the company was £403,053 (2024 - £255,171).

Summary of transactions with all subsidiaries
Loan accounts exist between the company and its subsidiaries G S Hughes Ltd, Harmston Waste Management Limited and Ponton Quarries Limited. 

At the balance sheet date, the amounts owed to this company by Harmston Waste Management Limited £125,954 (2024 - £191,205) and by Ponton Quarries Limited £216,231 (2024 - £216,231).

At the balance sheet date, the amounts owed by this company to G S Hughes Ltd were £180,126 (2024 - £14,007 debtor),

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		1,883,629		2,010,501
Investments	5		251		251
Investment property	4		690,480		130,480
			2,574,360		2,141,232
Current assets
Stocks	6	1,396,289		588,989
Debtors	7	1,161,164		765,244
Cash at bank and on hand		4,113,200		4,705,988
		6,670,653		6,060,221
Creditors amounts falling due within one year	8	(685,494)		(115,601)
Net current assets (liabilities)			5,985,159		5,944,620
Total assets less current liabilities			8,559,519		8,085,852
Provisions for liabilities	9		(96,248)		(109,563)
Net assets			8,463,271		7,976,289
Capital and reserves
Called up share capital			200		200
Profit and loss account			8,463,071		7,976,089
Shareholders' funds			8,463,271		7,976,289