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Unaudited Financial Statements |
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for the Year Ended 31 January 2020 |
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for |
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T.P. Hughes And Son Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 January 2020 |
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for |
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T.P. Hughes And Son Limited |
T.P. Hughes And Son Limited (Registered number: 00633050) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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T.P. Hughes And Son Limited |
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Company Information |
for the Year Ended 31 January 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BANKERS: |
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18 High Street |
Tenby |
Pembrokeshire |
SA70 7HD |
T.P. Hughes And Son Limited (Registered number: 00633050) |
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Balance Sheet |
31 January 2020 |
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31.1.20 | 31.1.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Capital redemption reserve |
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Fair value reserve | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
T.P. Hughes And Son Limited (Registered number: 00633050) |
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Balance Sheet - continued |
31 January 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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T.P. Hughes And Son Limited (Registered number: 00633050) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2020 |
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1. | STATUTORY INFORMATION |
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T.P. Hughes And Son Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Leasehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Leases and hire purchase contracts |
Rentals paid under operating leases are charged to income as incurred. |
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T.P. Hughes And Son Limited (Registered number: 00633050) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
Pension contributions payable are charged to the profit and loss account in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Freehold | Leasehold | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 February 2019 |
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Additions |
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Disposals |
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At 31 January 2020 |
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DEPRECIATION |
At 1 February 2019 |
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Charge for year |
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Eliminated on disposal |
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At 31 January 2020 |
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NET BOOK VALUE |
At 31 January 2020 |
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At 31 January 2019 |
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Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 February 2019 |
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Additions |
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Disposals |
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At 31 January 2020 |
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DEPRECIATION |
At 1 February 2019 |
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Charge for year |
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Eliminated on disposal |
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At 31 January 2020 |
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NET BOOK VALUE |
At 31 January 2020 |
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At 31 January 2019 |
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T.P. Hughes And Son Limited (Registered number: 00633050) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 February 2019 |
and 31 January 2020 |
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NET BOOK VALUE |
At 31 January 2020 |
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At 31 January 2019 |
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Fair value at 31 January 2020 is represented by: |
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£ |
Valuation in 2019 | 620,123 |
Cost | 79,877 |
700,000 |
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The directors have recorded the company's investment properties at their fair value. |
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6. | STOCKS |
31.1.20 | 31.1.19 |
£ | £ |
Stocks |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.20 | 31.1.19 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.20 | 31.1.19 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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Other creditors |
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9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 February 2019 |
and 31 January 2020 |
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T.P. Hughes And Son Limited (Registered number: 00633050) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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10. | CAPITAL COMMITMENTS |
31.1.20 | 31.1.19 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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11. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £82,600 (2019 - £81,600) were paid to the directors . |
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The company paid rent of £760 (2019 £760) to Hughes Properties Limited, a company controlled by Mr D.L |
Hughes. At the balance sheet date an amount of £372,381 (2019 £371,621) was owed to this company. |