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REGISTERED NUMBER: 00550075 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

H E Hipperson Ltd

H E Hipperson Ltd (Registered number: 00550075)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


H E Hipperson Ltd

Company Information
for the year ended 31 March 2023







DIRECTORS: S Sparrow
Mrs M T Sparrow





REGISTERED OFFICE: Hipperson's Boatyard
Gillingham Dam
Beccles
Suffolk
NR34 0EB





REGISTERED NUMBER: 00550075 (England and Wales)





ACCOUNTANTS: FWD Accounts Limited
7 Forbes Business Centre
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR

H E Hipperson Ltd (Registered number: 00550075)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 6,100 -
Tangible assets 4 652,611 675,394
Investments 5 1,000 1,000
659,711 676,394

CURRENT ASSETS
Debtors 6 47,168 47,179
Cash at bank and in hand 15,212 43,932
62,380 91,111
CREDITORS
Amounts falling due within one year 7 70,688 102,555
NET CURRENT LIABILITIES (8,308 ) (11,444 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

651,403

664,950

PROVISIONS FOR LIABILITIES 101,562 96,090
NET ASSETS 549,841 568,860

CAPITAL AND RESERVES
Called up share capital 10,100 10,100
Fair value reserve 8 361,379 367,683
Retained earnings 8 178,362 191,077
SHAREHOLDERS' FUNDS 549,841 568,860

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 1 November 2023 and were signed on its behalf by:





S Sparrow - Director


H E Hipperson Ltd (Registered number: 00550075)

Notes to the Financial Statements
for the year ended 31 March 2023


1. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Plant and machinery - 25% on reducing balance
Fleet - 10% on reducing balance and 5% on reducing balance

Under FRS 102 para 17.15B the company will carry out a revaluation exercise with sufficient regularity such as to ensure that the asset’s carrying amount in the balance sheet do not differ materially from their fair value at the balance sheet date.

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.

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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 6 ) .

H E Hipperson Ltd (Registered number: 00550075)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


3. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 6,100
At 31 March 2023 6,100
NET BOOK VALUE
At 31 March 2023 6,100

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Fleet Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2022 565,181 232,836 138,562 936,579
Additions - - 10,500 10,500
At 31 March 2023 565,181 232,836 149,062 947,079
DEPRECIATION
At 1 April 2022 29,529 132,777 98,858 261,164
Charge for year 6,304 25,013 1,987 33,304
At 31 March 2023 35,833 157,790 100,845 294,468
NET BOOK VALUE
At 31 March 2023 529,348 75,046 48,217 652,611
At 31 March 2022 535,652 100,059 39,704 675,415

Cost or valuation at 31 March 2023 is represented by:

Freehold Plant and
property machinery Fleet Totals
£    £    £    £   
Valuation in 2014 37,457 - - 37,457
Valuation in 2000 - - 12,778 12,778
Valuation in 2018 - - 27,007 27,007
Valuation in 2020 400,036 - - 400,036
Cost 127,688 232,836 109,277 469,801
565,181 232,836 149,062 947,079

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31/3/23 31/3/22
£    £   
Cost 127,688 127,688
Aggregate depreciation 23,224 23,224

Value of land in freehold land and buildings 10,000 10,000

Fleet were valued on fair value basis on 31 March 2019 by Mr Simon Sparrow the company director .

H E Hipperson Ltd (Registered number: 00550075)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


4. TANGIBLE FIXED ASSETS - continued

As at the 31 March 2020 Freehold Property was held at the carrying value of £554,564 based on valuations made by professional external valuers.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 1,000
NET BOOK VALUE
At 31 March 2023 1,000
At 31 March 2022 1,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 11,334 10,717
Loan to parent undertaking 35,014 35,014
VAT 820 1,448
47,168 47,179

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade creditors 826 5,154
Tax 3,123 876
Social security and other taxes 4,435 4,262
Deferred income 40,209 38,478
Net wages control 2,917 -
Pension creditor - (848 )
Directors' current accounts 16,378 51,833
Accrued expenses 2,800 2,800
70,688 102,555

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2022 191,076 367,683 558,759
Deficit for the year (2,218 ) - (2,218 )
Dividends (16,800 ) - (16,800 )
Depreciation 6,304 (6,304 ) -
At 31 March 2023 178,362 361,379 539,741

Deferred tax has been recognised in respect of the revaluations to Fleet and Freehold property as at the year ended 31 March 2023.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are considered to be Mr Simon & Mrs Mary Sparrow by virtue of their shareholding in the parent undertaking Arowick Limited.