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Registration number: 08498738

Hippo Creative Design Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2022

 

Hippo Creative Design Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Hippo Creative Design Limited

Company Information

Directors

Mr CB Watts

Mrs S M A Watts

Registered office

35 High Cross Street
St. Austell
Cornwall
PL25 4AN

Accountants

Harland Accountants
35 High Cross Street
St. Austell
Cornwall
PL25 4AN

 

Hippo Creative Design Limited

(Registration number: 08498738)
Abridged Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

457

-

Current assets

 

Debtors

519

533

Cash at bank and in hand

 

202

1,654

 

721

2,187

Creditors: Amounts falling due within one year

(4,577)

(3,661)

Net current liabilities

 

(3,856)

(1,474)

Total assets less current liabilities

 

(3,399)

(1,474)

Accruals and deferred income

 

(1,028)

-

Net liabilities

 

(4,427)

(1,474)

Capital and reserves

 

Called up share capital

5

110

110

Profit and loss account

(4,537)

(1,584)

Shareholders' deficit

 

(4,427)

(1,474)

For the financial year ending 31 March 2022 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Hippo Creative Design Limited

(Registration number: 08498738)
Abridged Balance Sheet as at 31 March 2022

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 9 August 2022 and signed on its behalf by:
 

.........................................

Mr CB Watts

Director

.........................................

Mrs S M A Watts

Director

 

Hippo Creative Design Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
35 High Cross Street
St. Austell
Cornwall
PL25 4AN
England

The principal place of business is:
Overdale
Crown Road
Whitemoor
St Austell
Cornwall
PL26 7XH

These financial statements were authorised for issue by the Board on 9 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, which assumes the company will continue in operational existence for the foreseeable future. The validity of the assumption depends upon the continued support of the company's directors.

 

Hippo Creative Design Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% on cost

Plant and machinery

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Hippo Creative Design Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2021 - 1).

 

Hippo Creative Design Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2021

865

-

865

Additions

379

270

649

At 31 March 2022

1,244

270

1,514

Depreciation

At 1 April 2021

865

-

865

Charge for the year

125

67

192

At 31 March 2022

990

67

1,057

Carrying amount

At 31 March 2022

254

203

457

5

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

10

10

10

10

 

110

110

110

110