REGISTERED NUMBER: SC259502 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

McHugh Estate Agents Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr John McHugh

Mr Owen Gerard McHugh

Mr Simon B Smith

SECRETARY:

Mrs Jean McHugh

REGISTERED OFFICE:

576 Kilbowie Road

Hardgate Cross

Clydebank

G81 6QU

REGISTERED NUMBER:

SC259502 (Scotland)

ACCOUNTANTS:

Stevenson & Kyles

Chartered Accountants

25 Sandyford Place

Glasgow

G3 7NG

FIXED ASSETS

Intangible assets

4

13,200

16,800

Tangible assets

5

1,842

2,168

15,042

18,968

CURRENT ASSETS

Debtors

6

9,585

15,282

Cash at bank

77,325

54,880

86,910

70,162

CREDITORS

Amounts falling due within one year

7

79,196

64,542

NET CURRENT ASSETS

7,714

5,620

TOTAL ASSETS LESS CURRENT LIABILITIES

22,756

24,588

CREDITORS

Amounts falling due after more than one year

8

(18,580

)

(24,051

)

PROVISIONS FOR LIABILITIES

9

(350

)

(412

)

NET ASSETS

3,826

125

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

3,726

25

SHAREHOLDERS' FUNDS

3,826

125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 June 2026 and were signed on its behalf by:

Mr Simon B Smith - Director

1.	STATUTORY INFORMATION

McHugh Estate Agents Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fittings and equipment

-

15% on reducing balance

Financial instruments

Basic financial instruments, including 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 in administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grant income

Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2025 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

90,000

AMORTISATION

At 1 April 2025

73,200

Amortisation for year

3,600

At 31 March 2026

76,800

NET BOOK VALUE

At 31 March 2026

13,200

At 31 March 2025

16,800

5.	TANGIBLE FIXED ASSETS

Fittings

and

equipment

£

COST

At 1 April 2025

and 31 March 2026

6,809

DEPRECIATION

At 1 April 2025

4,641

Charge for year

326

At 31 March 2026

4,967

NET BOOK VALUE

At 31 March 2026

1,842

At 31 March 2025

2,168

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other debtors

9,585

15,282

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

6,000

6,000

Taxation and social security

24,639

14,712

Other creditors

48,557

43,830

79,196

64,542

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

18,580

24,051

9.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

350

412

Deferred

tax

£

Balance at 1 April 2025

412

Provided during year

(62

)

Balance at 31 March 2026

350

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

100

Ordinary

£1

100

100