R Hughes and J H Jones Ltd Filleted accounts for Companies House (small and micro)

R HUGHES AND J H JONES LTD - Company Information

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COMPANY REGISTRATION NUMBER: 05191580

R Hughes and J H Jones Ltd

Filleted Unaudited Financial Statements

For the period ended

31 October 2018

R Hughes and J H Jones Ltd

Financial Statements

Period from 1 September 2017 to 31 October 2018

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

R Hughes and J H Jones Ltd

Statement of Financial Position

31 October 2018

	31 Oct 18		31 Aug 17
Note	£	£	£

Fixed assets

Tangible assets	6		–	2,776

Current assets

Stocks		–	46,842
Debtors	7	105,502	1,394,604
Cash at bank and in hand		–	389,293
		---------	-----------
		105,502	1,830,739

Creditors: amounts falling due within one year	8	10,355		104,589
		---------		-----------
Net current assets			95,147	1,726,150
			-------	-----------
Total assets less current liabilities			95,147	1,728,926
			-------	-----------

Capital and reserves

Called up share capital	9	40,000	440,000
Profit and loss account		55,147	1,288,926
		-------	-----------
Shareholders funds		95,147	1,728,926
		-------	-----------

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 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 comprehensive income has not been delivered.

For the period ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 24 July 2019 , and are signed on behalf of the board by:

Mr R B Cole

Director

Company registration number: 05191580

R Hughes and J H Jones Ltd

Notes to the Financial Statements

Period from 1 September 2017 to 31 October 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brookdale Coach House, Cefn Y Gwrych, Prestatyn, North Wales, LL19 8LH, Wales.

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. Income statement

All the activities of the company are from discontinued operations.

4. 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.

Going concern

On 12 July 2018, 100% of the called up share capital was purchased by Camella Healthcare Limited. The trade and assets of the Company were hived up as part of a group reorganisation, and subsequently the Company ceased trading. R Hughes and J H Jones Ltd finishes disposing of its assets by 12 July 2018, at which point the only items in the statement of financial position are the intragroup debtors.

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.

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.

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:

	Fixtures and fittings	-	10% 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

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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. 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. 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.

5. Employee numbers

The average number of persons employed by the company during the period amounted to 7 (2017: 7 ).

6. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 September 2017	10,635
Additions	1,833
Disposals through business combinations	( 12,468)
	-------
At 31 October 2018	–
	-------
Depreciation
At 1 September 2017	7,859
Charge for the period	384
Disposals through business combinations	( 8,243)
	-------
At 31 October 2018	–
	-------
Carrying amount
At 31 October 2018	–
	-------
At 31 August 2017	2,776
	-------

7. Debtors

	31 Oct 18	31 Aug 17
	£	£
Trade debtors	–	69,981
Amounts owed by group undertakings and undertakings in which the company has a participating interest	105,502	–
Other debtors	–	1,324,623
	---------	-----------
	105,502	1,394,604
	---------	-----------

8. Creditors: amounts falling due within one year

	31 Oct 18	31 Aug 17
	£	£
Trade creditors	–	53,238
Corporation tax	–	47,205
Director loan accounts	–	687
Other creditors	10,355	3,459
	-------	---------
	10,355	104,589
	-------	---------

9. Called up share capital

Issued, called up and fully paid

	31 Oct 18		31 Aug 17
	No.	£	No.	£
Ordinary shares of £ 1 each	40,000	40,000.00	440,000	440,000.00
	-------	-----------	---------	------------

On 11 July 2018, the Company completed a reduction of its share capital, whereby 400,000 Ordinary £1 shares were cancelled in accordance with Section 644(5) of the Companies Act 2006. The distributable reserves created by the reduction of share capital amount to £400,000.

10. Directors' advances, credits and guarantees

The movement on the director's loan account during the year was as follows:

		2018
		£
	Balance owed as at 01 September 2017	687
	Amounts repaid	(687)
		----
	Balance owed as at 31 October 2018	–
		----

11. Related party transactions

The company has taken exemptions under section 33 of FRS102 from reporting transactions with wholly owned subsidiaries.

12. Controlling party

The ultimate controlling part of the company, by virtue of 100% shareholding, is Camella Healthcare Limited.