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REGISTERED NUMBER: 00734492 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

HOPE TECHNICAL DEVELOPMENTS LIMITED

HOPE TECHNICAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00734492)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 8


HOPE TECHNICAL DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: J.C. Hope
C J Hope



SECRETARY: J.C. Hope



REGISTERED OFFICE: Cloudsley
High Street
Ascot
Berkshire
SL5 7HP



REGISTERED NUMBER: 00734492 (England and Wales)



AUDITORS: Myrus Smith
Chartered Accountants & Statutory Auditor
Norman House
8 Burnell Road
Sutton
Surrey
SM1 4BW



BANKERS: Barclays Bank plc
High Street
Ascot
Berkshire
SL5 7JG

HOPE TECHNICAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00734492)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 885,608 913,531
Investments 5 4,212 4,212
889,820 917,743

CURRENT ASSETS
Stocks 475,805 440,446
Debtors 6 499,178 423,479
Cash at bank and in hand 114,792 245,006
1,089,775 1,108,931
CREDITORS
Amounts falling due within one year 7 566,598 588,875
NET CURRENT ASSETS 523,177 520,056
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,412,997

1,437,799

CREDITORS
Amounts falling due after more than one
year

8

(405,594

)

(510,989

)

PROVISIONS FOR LIABILITIES 12 (78,886 ) (48,257 )
NET ASSETS 928,517 878,553

CAPITAL AND RESERVES
Called up share capital 53,315 53,315
Retained earnings 875,202 825,238
SHAREHOLDERS' FUNDS 928,517 878,553

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





J.C. Hope - Director


HOPE TECHNICAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00734492)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Hope Technical Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover relating to the sale of goods is recognised when substantively all the risks and rewards in connection with the goods have been passed to the buyer. This is usually when the goods are delivered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items. Cost is calculated using the first-in first-out (FIFO) basis of valuation.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairments are recognised in expenditure.

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.

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.


HOPE TECHNICAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00734492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Fixed asset investments
Investment assets are recorded at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2021 - 24 ) .

HOPE TECHNICAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00734492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2022 606,792 1,555,214 2,162,006
Additions - 124,537 124,537
Disposals - (39,422 ) (39,422 )
At 31 December 2022 606,792 1,640,329 2,247,121
DEPRECIATION
At 1 January 2022 44,453 1,204,022 1,248,475
Charge for year 12,135 136,486 148,621
Eliminated on disposal - (35,583 ) (35,583 )
At 31 December 2022 56,588 1,304,925 1,361,513
NET BOOK VALUE
At 31 December 2022 550,204 335,404 885,608
At 31 December 2021 562,339 351,192 913,531

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2022
and 31 December 2022 880,181
DEPRECIATION
At 1 January 2022 737,898
Charge for year 33,452
At 31 December 2022 771,350
NET BOOK VALUE
At 31 December 2022 108,831
At 31 December 2021 142,283

HOPE TECHNICAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00734492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2022
and 31 December 2022 4,212
NET BOOK VALUE
At 31 December 2022 4,212
At 31 December 2021 4,212

The investment relates to a vintage motor vehicle.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 380,051 299,589
Other debtors 119,127 123,890
499,178 423,479

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts (see note 9) 43,199 43,199
Hire purchase contracts (see note 10) 165,333 60,302
Trade creditors 223,019 383,248
Taxation and social security 54,467 72,218
Other creditors 80,580 29,908
566,598 588,875

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans (see note 9) 405,594 440,381
Hire purchase contracts (see note 10) - 70,608
405,594 510,989

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 405,594 267,586

HOPE TECHNICAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00734492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


9. LOANS

Interest was charged on the bank loan at 2.9% per annum, above the bank's Base Rate. The loan was repaid during the year

2022 2021
£ £

Bank loans within one year 43,199 43,199

Bank loans between one and two years 43,199 43,199

Bank loans between two and five years 129,596 129,596

Bank loans more than five years 232,799 267,586
_______ _______

448,793 483,580
_______ _______

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2022 2021
£    £   
Gross obligations repayable:
Within one year 165,333 65,086
Between one and five years - 82,065
165,333 147,151

Finance charges repayable:
Within one year - 4,784
Between one and five years - 11,457
- 16,241

Net obligations repayable:
Within one year 165,333 60,302
Between one and five years - 70,608
165,333 130,910

Non-cancellable operating leases
2022 2021
£    £   
Within one year - 6,313
Between one and five years - 4,842
- 11,155

HOPE TECHNICAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00734492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


11. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 448,793 483,580
Hire purchase contracts 165,333 130,910
614,126 614,490

The bank loan is secured against the company's leasehold premises.

Hire purchase liabilities are secured against the leased assets to which they relate.

12. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax
Accelerated timing differences 78,886 48,257

Deferred
tax
£   
Balance at 1 January 2022 48,257
Provided during year 30,629
Balance at 31 December 2022 78,886

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Jones FCA (Senior Statutory Auditor)
for and on behalf of Myrus Smith

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

2022 2021
£    £   
J.C. Hope
Balance outstanding at start of year 16,047 14,209
Amounts advanced 1,875 1,838
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,922 16,047