Registration number:
C J Hooper & Sons Limited
Chartered Accountants
C J Hooper & Sons Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
C J Hooper & Sons Limited
Company Information
Directors |
Mr T E Frampton Mrs R T Frampton |
Company secretary |
Mrs R T Frampton |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
C J Hooper & Sons Limitedfor the Year Ended 5 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of C J Hooper & Sons Limited for the year ended 5 April 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of C J Hooper & Sons Limited, as a body, in accordance with the terms of our engagement letter dated 10 September 2021. Our work has been undertaken solely to prepare for your approval the accounts of C J Hooper & Sons Limited and state those matters that we have agreed to state to the Board of Directors of C J Hooper & Sons Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C J Hooper & Sons Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that C J Hooper & Sons Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of C J Hooper & Sons Limited. You consider that C J Hooper & Sons Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of C J Hooper & Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Chartered Accountants
34 High East Street
Dorchester
Dorset
DT1 1HA
C J Hooper & Sons Limited
(Registration number: 00687716)
Balance Sheet as at 5 April 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
28,407 |
29,714 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
2,000 |
2,000 |
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Profit and loss account |
598,598 |
531,429 |
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Shareholders' funds |
600,598 |
533,429 |
For the financial year ending 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Director
C J Hooper & Sons Limited
Notes to the Unaudited Financial Statements
for the Year Ended 5 April 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
The principal place of business is:
Manor Farm
Milborne St Andrew
Blandford Forum
Dorset
DT11 0JS
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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These 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.
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.
C J Hooper & Sons Limited
Notes to the Unaudited Financial Statements
for the Year Ended 5 April 2023
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 |
Land and buildings |
10% per annum on cost of Leasehold and Nil on cost of Freehold |
Furniture, fittings and equipment |
25% per annum on cost and 15% reducing balance |
Motor vehicles |
20% per annum on cost |
Farm implements |
10% per annum on cost |
Tractors |
25% reducing balance |
Combines and balers |
20% per annum on cost |
Office equipment |
25% per annum 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.
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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Deemed cost has been used where actual cost is not accurately ascertainable. Deemed cost is defined in line with the guidance in HMRC Helpsheet 232 as follows:
Sheep and pigs: 75% of market value
Harvested crops: 75% of market value
C J Hooper & Sons Limited
Notes to the Unaudited Financial Statements
for the Year Ended 5 April 2023
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.
Financial instruments
Recognition and measurement
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
C J Hooper & Sons Limited
Notes to the Unaudited Financial Statements
for the Year Ended 5 April 2023
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 6 April 2022 |
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Additions |
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- |
- |
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At 5 April 2023 |
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Depreciation |
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At 6 April 2022 |
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Charge for the year |
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At 5 April 2023 |
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Carrying amount |
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At 5 April 2023 |
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- |
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At 5 April 2022 |
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Included within the net book value of land and buildings above is £8,159 (2022 - £8,159) in respect of freehold land and buildings and £107,091 (2022 - £120,136) in respect of long leasehold land and buildings.
C J Hooper & Sons Limited
Notes to the Unaudited Financial Statements
for the Year Ended 5 April 2023
Other financial assets |
Financial assets at fair value through profit and loss |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 6 April 2022 |
28,080 |
1,634 |
29,714 |
Fair value adjustments |
(1,307) |
- |
(1,307) |
At 5 April 2023 |
26,773 |
1,634 |
28,407 |
Carrying amount |
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At 5 April 2023 |
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28,407 |
At 5 April 2022 |
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29,714 |
Stocks |
2023 |
2022 |
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Other inventories |
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Other creditors includes loans totalling £166,089 (2022 - £231,765) from the director, Mr T E Frampton. This loan is interest free with no date for repayment.
C J Hooper & Sons Limited
Notes to the Unaudited Financial Statements
for the Year Ended 5 April 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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2,000 |
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2,000 |
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
Summary of transactions with other related parties
- Income receivable by C J Hooper & Sons Limited of £ Nil (2022 income - £500).
- C J Hooper & Sons Limited paid for contract services of £ Nil (2022 payments - £ Nil).
Bank security |
Security
Lloyds Bank have a fixed and floating charge covering all the property and undertakings of the company (dated 30 August 2017).