HUGHES ELECTRICAL LIMITED

1. HUGHES ELECTRICAL LIMITED 2001-03-06 → present
2. HUGHES (LOWESTOFT) LIMITED 1946-03-13 → 2001-03-06

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Larking Gowen LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Based on this, the Directors have concluded that they have a reasonable expectation that the Group will have adequate resources to continue in operational existence for the foreseeable future, being at least twelve months from the date of signing these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements.”

Group structure

1. HUGHES ELECTRICAL LIMITED · parent
   1. Hughes TV & Audio Limited 100% · Retail sales and rental of electrical appliances and goods
   2. Dial-A-TV (Rentals) Limited 100% · Dormant
   3. James Armstrong Holdings Limited 69.78% · Dormant
   4. Washco Limited 69.78% · Wholesale, rental and repair of laundry appliances and goods
   5. Solent Laundry Solutions (Holding) Limited 69.78% · Dormant holding company
   6. Solent Laundry Solutions Ltd 69.78% · Wholesale, rental and repair of laundry appliances and goods
   7. Bennetts Retail Trading Limited 100% · Dormant
   8. Dial-A-TV Limited 100% · Dormant
   9. Hughes Rental Limited 100% · Rental of electrical household appliances and goods
   10. Goodman-Sparks Holdings Limited 69.78% · Dormant
   11. Goodman-Sparks Limited 69.78% · Wholesale, rental and repair of laundry appliances and goods
   12. Hughes Business Solutions Ltd 100% · Software development
   13. Kombine Technology Limited 75.1% · Intermediary holding company

Significant events

• “Made 77 redundancies throughout the group made possible by the introduction of larger vehicles working longer hours to improve efficiency.”
• “closure of one shop and a depot whose workload was transferred to the 3 remaining East Anglian depots.”
• “net £0.60m gain in the comprehensive income statement from a reduction in the deficit of the closed defined benefit pension scheme.”
• “Outstanding debt less cash balances grew from £10.04m to £11.46m during the year partly to fund trading losses and the pension deficit repayments.”
• “The term loans of £7.1m were within 1 year of repayment at financial year end and were subsequently renewed for a further 4 years in September 25.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

2

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +5.6%

  £151,639,770 → £160,149,085

• Cash

  +8.4%

  £2,592,480 → £2,811,091

• Net assets

  -3.3%

  £42,258,237 → £40,850,815

• Employees

  -1.7%

  744 → 731

• Operating profit

  -125.1%

  £4,006,134 → -£1,003,720

• Profit before tax

  -172.6%

  £2,961,654 → -£2,150,529

• Wages

  +7.6%

  £21,345,163 → £22,967,430

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers