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Hopkins Developments Limited

Annual Report and Unaudited Financial Statements
Period from 1 December 2021 to 29 November 2022

Registration number: 09747763

 

Hopkins Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Hopkins Developments Limited

Company Information

Director

Mr W I Hopkins

Registered office

The Tythings Commercial Centre
Southgate Road
Wincanton
Somerset
BA9 9RZ

Accountants

Francis Clark LLP
Ground Floor
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset
TA1 2PX

 

Hopkins Developments Limited

Balance Sheet

29 November 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

23,806

16,578

Current assets

 

Stocks

6

9,113

2,789

Debtors

7

8,435

8,870

Cash at bank and in hand

 

26,511

27,554

 

44,059

39,213

Creditors: Amounts falling due within one year

8

(72,492)

(56,251)

Net current liabilities

 

(28,433)

(17,038)

Total assets less current liabilities

 

(4,627)

(460)

Provisions for liabilities

(182)

(182)

Net liabilities

 

(4,809)

(642)

Capital and reserves

 

Called up share capital

9

1

1

Profit and loss account

(4,810)

(643)

Shareholders' deficit

 

(4,809)

(642)

 

Hopkins Developments Limited

Balance Sheet

29 November 2022

For the financial period ending 29 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 17 November 2023
 

.........................................
Mr W I Hopkins
Director

Approved and authorised by the director on 17 November 2023
 

Mr W I Hopkins
Director

   
     

Company Registration Number: 09747763

 

Hopkins Developments Limited

Notes to the Unaudited Financial Statements

Period from 1 December 2021 to 29 November 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:
The Tythings Commercial Centre
Southgate Road
Wincanton
Somerset
BA9 9RZ

These financial statements were authorised for issue by the director on 17 November 2023.

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 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 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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Government grants

Grants received are accounted for using the accrual model. Grants relating to revenue are credited to the profit and loss account on a straight line basis over the relevant period in which the related costs are incurred. Grants which are the purpose of giving immediate financial support to the entity, with no future related costs, are recognised as income in the period in which they become receivable.

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.

 

Hopkins Developments Limited

Notes to the Unaudited Financial Statements

Period from 1 December 2021 to 29 November 2022

The current corporation 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.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

Furniture, fittings and equipment

25% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Fully amortised at the start of the year

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 stocks 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Hopkins Developments Limited

Notes to the Unaudited Financial Statements

Period from 1 December 2021 to 29 November 2022

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 29 (2021 - 16).

 

Hopkins Developments Limited

Notes to the Unaudited Financial Statements

Period from 1 December 2021 to 29 November 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2021

30,000

30,000

At 29 November 2022

30,000

30,000

Amortisation

At 1 December 2021

30,000

30,000

At 29 November 2022

30,000

30,000

Carrying amount

At 29 November 2022

-

-

At 30 November 2021

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2021

27,367

27,367

Additions

18,758

18,758

At 29 November 2022

46,125

46,125

Depreciation

At 1 December 2021

10,789

10,789

Charge for the period

11,530

11,530

At 29 November 2022

22,319

22,319

Carrying amount

At 29 November 2022

23,806

23,806

At 30 November 2021

16,578

16,578

6

Stocks

2022
£

2021
£

Stock

9,113

2,789

 

Hopkins Developments Limited

Notes to the Unaudited Financial Statements

Period from 1 December 2021 to 29 November 2022

7

Debtors

2022
£

2021
£

Prepayments

2,671

2,680

Other debtors

5,764

6,190

8,435

8,870

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

46,619

23,407

Corporation tax

-

5,783

Taxation and social security

19,442

19,271

Other creditors

705

2,628

Accruals and deferred income

5,726

5,162

72,492

56,251

9

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1