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31/03/2023
2023-03-31
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No description of principal activities is disclosed
2022-04-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
00701085
2022-04-01
2023-03-31
00701085
2023-03-31
00701085
2022-03-31
00701085
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2022-03-31
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2022-03-31
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00701085
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2023-03-31
00701085
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2022-04-01
2023-03-31
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2023-03-31
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2022-04-01
2023-03-31
00701085
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2022-04-01
2023-03-31
00701085
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2022-04-01
2023-03-31
00701085
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2022-04-01
2023-03-31
00701085
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2022-04-01
2023-03-31
00701085
core:LandBuildings
core:LongLeaseholdAssets
2022-03-31
00701085
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2022-03-31
00701085
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2022-03-31
00701085
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core:LongLeaseholdAssets
2023-03-31
00701085
core:PlantMachinery
2023-03-31
00701085
core:FurnitureFittingsToolsEquipment
2023-03-31
00701085
core:WithinOneYear
2023-03-31
00701085
core:WithinOneYear
2022-03-31
00701085
core:LandBuildings
core:LongLeaseholdAssets
2022-03-31
00701085
core:PlantMachinery
2022-03-31
00701085
core:FurnitureFittingsToolsEquipment
2022-03-31
00701085
core:AfterOneYear
2023-03-31
00701085
core:AfterOneYear
2022-03-31
00701085
core:ShareCapital
2023-03-31
00701085
core:ShareCapital
2022-03-31
00701085
core:RetainedEarningsAccumulatedLosses
2023-03-31
00701085
core:RetainedEarningsAccumulatedLosses
2022-03-31
00701085
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2022-03-31
00701085
bus:Director1
2023-03-31
00701085
bus:Director2
2022-03-31
00701085
bus:Director2
2023-03-31
00701085
bus:Director3
2022-03-31
00701085
bus:Director3
2023-03-31
00701085
bus:Director1
2021-03-31
00701085
bus:Director1
2022-03-31
00701085
bus:Director2
2021-03-31
00701085
bus:Director2
2022-03-31
00701085
bus:Director3
2021-03-31
00701085
bus:Director3
2022-03-31
00701085
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2021-04-01
2022-03-31
00701085
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2022-04-01
2023-03-31
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2022-04-01
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2022-04-01
2023-03-31
Company registration number:
00701085
J Hipwell & Son Limited
Unaudited filleted financial statements
31 March 2023
J Hipwell & Son Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Notes to the financial statements
J Hipwell & Son Limited
Directors and other information
|
|
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Directors |
K J Hipwell |
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|
P Hipwell |
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C Hipwell |
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Secretary |
P Hipwell |
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Company number |
00701085 |
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Registered office |
427 Warwick Road |
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Greet |
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|
Birmingham |
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B11 2JR |
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Accountant |
R G Justice & Co |
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36 Heath Street |
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Stourbridge |
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DY8 1SB |
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Bankers |
Barclays Bank plc |
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J Hipwell & Son Limited
Chartered accountant's report to the board of directors on the preparation of the
unaudited statutory financial statements of J Hipwell & Son Limited
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of J Hipwell & Son Limited for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of J Hipwell & Son Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of J Hipwell & Son Limited and state those matters that we have agreed to state to the board of directors of J Hipwell & Son Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than J Hipwell & Son Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that J Hipwell & Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of J Hipwell & Son Limited. You consider that J Hipwell & Son Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of J Hipwell & Son Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
R G Justice & Co
Chartered Accountants
36 Heath Street
Stourbridge
DY8 1SB
21 September 2023
J Hipwell & Son Limited
Statement of financial position
31 March 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
4 |
4,527 |
|
|
|
5,029 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
4,527 |
|
|
|
5,029 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
117,500 |
|
|
|
115,000 |
|
|
Debtors |
|
|
226,123 |
|
|
|
205,428 |
|
|
Cash at bank and in hand |
|
|
196 |
|
|
|
124 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
343,819 |
|
|
|
320,552 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
5 |
(
491,263) |
|
|
|
(
450,913) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
147,444) |
|
|
|
(
130,361) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
(
142,917) |
|
|
|
(
125,332) |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
6 |
|
|
(
7,200) |
|
|
|
(
10,400) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net liabilities |
|
|
|
|
(
150,117) |
|
|
|
(
135,732) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
1,000 |
|
|
|
1,000 |
Profit and loss account |
|
|
|
|
(
151,117) |
|
|
|
(
136,732) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders deficit |
|
|
|
|
(
150,117) |
|
|
|
(
135,732) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
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|
For the year ending 31 March 2023 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 year 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of 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 income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
21 September 2023
, and are signed on behalf of the board by:
P Hipwell
Director
J Hipwell & Son Limited
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 427 Warwick Road, Greet, Birmingham, B11 2JR.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
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.
Turnover
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.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
|
|
|
|
|
|
Plant and machinery |
- |
10 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
10 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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 stocks to their present location and condition.
4.
Tangible assets
|
|
Long leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2022 and 31 March 2023 |
16,377 |
52,642 |
5,775 |
74,794 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2022 |
16,375 |
47,788 |
5,602 |
69,765 |
|
|
|
|
Charge for the year |
- |
485 |
17 |
502 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 March 2023 |
16,375 |
48,273 |
5,619 |
70,267 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2023 |
2 |
4,369 |
156 |
4,527 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31 March 2022 |
2 |
4,854 |
173 |
5,029 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
|
|
|
|
|
|
|
|
|
|
|
Long leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
At 31 March 2023 |
|
|
|
|
|
|
|
|
Aggregate cost |
16,377 |
52,642 |
5,775 |
74,794 |
|
|
|
|
Aggregate depreciation |
(16,375) |
(48,273) |
(5,619) |
(70,267) |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
2 |
4,369 |
156 |
4,527 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 March 2022 |
|
|
|
|
|
|
|
|
Aggregate cost |
16,377 |
52,642 |
5,775 |
74,794 |
|
|
|
|
Aggregate depreciation |
(16,375) |
(47,788) |
(5,602) |
(69,765) |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
2 |
4,854 |
173 |
5,029 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
5.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
15,017 |
10,870 |
|
Trade creditors |
|
10,880 |
10,056 |
|
Social security and other taxes |
|
3,389 |
6,561 |
|
Other creditors |
|
461,977 |
423,426 |
|
|
|
_______ |
_______ |
|
|
|
491,263 |
450,913 |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Other creditors |
|
7,200 |
10,400 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The bank loans are repayable by instalments commencingJuly 2021.
7.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
K J Hipwell |
(
340,318) |
- |
- |
(
340,318) |
|
|
|
P Hipwell |
(
70,003) |
(
53,550) |
25,400 |
(
98,153) |
|
|
|
C Hipwell |
(
5,000) |
- |
- |
(
5,000) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
(
415,321) |
(
53,550) |
25,400 |
(
443,471) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
K J Hipwell |
(
340,318) |
- |
- |
(
340,318) |
|
|
|
P Hipwell |
(
47,953) |
(
34,150) |
12,100 |
(
70,003) |
|
|
|
C Hipwell |
(
5,000) |
- |
- |
(
5,000) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
(
393,271) |
(
34,150) |
12,100 |
(
415,321) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
8.
Controlling party
All the directors hold a controlling interest in the company.