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REGISTERED NUMBER: 09985933 (United Kingdom)















Unaudited Financial Statements

for the Period 1 March 2022 to 31 March 2023

for

HOPP STUDIO LIMITED

HOPP STUDIO LIMITED (REGISTERED NUMBER: 09985933)

Contents of the Financial Statements
for the Period 1 March 2022 to 31 March 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


HOPP STUDIO LIMITED (REGISTERED NUMBER: 09985933)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,786 7,205

CURRENT ASSETS
Debtors 5 149,696 102,251
Cash at bank 119,419 74,312
269,115 176,563
CREDITORS
Amounts falling due within one year 6 154,811 78,613
NET CURRENT ASSETS 114,304 97,950
TOTAL ASSETS LESS CURRENT LIABILITIES 118,090 105,155

CREDITORS
Amounts falling due after more than one year 7 (111,952 ) (101,614 )

PROVISIONS FOR LIABILITIES (841 ) (1,453 )
NET ASSETS 5,297 2,088

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 5,197 1,988
SHAREHOLDERS' FUNDS 5,297 2,088

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

HOPP STUDIO LIMITED (REGISTERED NUMBER: 09985933)

Balance Sheet - continued
31 March 2023


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 November 2023 and were signed on its behalf by:





M Phillips - Director


HOPP STUDIO LIMITED (REGISTERED NUMBER: 09985933)

Notes to the Financial Statements
for the Period 1 March 2022 to 31 March 2023


1. STATUTORY INFORMATION

Hopp Studio Limited is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 09985933

Registered office: Dolphin House
Church Street
Cardiff
CF10 1BG

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% Straight line and 20% Straight line

Taxation
Taxation for the period 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.


HOPP STUDIO LIMITED (REGISTERED NUMBER: 09985933)

Notes to the Financial Statements - continued
for the Period 1 March 2022 to 31 March 2023


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 period 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.

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.

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.

Dividends
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

HOPP STUDIO LIMITED (REGISTERED NUMBER: 09985933)

Notes to the Financial Statements - continued
for the Period 1 March 2022 to 31 March 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Classification
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Debt instruments are subsequently measured at amortised cost.

Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

HOPP STUDIO LIMITED (REGISTERED NUMBER: 09985933)

Notes to the Financial Statements - continued
for the Period 1 March 2022 to 31 March 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis of 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022 32,539
Additions 729
At 31 March 2023 33,268
DEPRECIATION
At 1 March 2022 25,335
Charge for period 4,147
At 31 March 2023 29,482
NET BOOK VALUE
At 31 March 2023 3,786
At 28 February 2022 7,204

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 112,936 34,722
Other debtors 36,760 67,529
149,696 102,251

HOPP STUDIO LIMITED (REGISTERED NUMBER: 09985933)

Notes to the Financial Statements - continued
for the Period 1 March 2022 to 31 March 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 38,048 34,352
Trade creditors 10,799 3,725
Taxation and social security 86,547 30,102
Other creditors 19,417 10,434
154,811 78,613

The bank loan due within one year includes a loan that is secured by a personal guarantee from the directors and also an unsecured loan with no set repayment terms.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 111,952 101,614

The bank loan due within one year includes a loan that is secured by a personal guarantee from the directors and also an unsecured loan with no set repayment terms.

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 38,048 34,352

Amounts falling due between two and five years:
Bank loans - 2-5 years 111,952 101,614

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 1,333 8,000
Between one and five years - 1,333
1,333 9,333

The amount of non-cancellable operating lease payments recognised as an expense during the year was £8,658 (2022 - £6,619).

HOPP STUDIO LIMITED (REGISTERED NUMBER: 09985933)

Notes to the Financial Statements - continued
for the Period 1 March 2022 to 31 March 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100