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Registration number: 04016459

Hopgrove Farm Holiday Cottages Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Hopgrove Farm Holiday Cottages Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Hopgrove Farm Holiday Cottages Limited

Company Information

Directors

H L Fitton

J A Fitton

L E Fitton

J A A Hughes

A E Perry

M J Perry

Company secretary

H L Fitton

Registered office

Hopgrove Farm
Malton Road
York
North Yorkshire
YO32 9TH

Accountants

Manningtons
Chartered Accountants
39 High Street
Battle
East Sussex
TN33 0EE

 

Hopgrove Farm Holiday Cottages Limited

(Registration number: 04016459)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

314,943

334,103

Current assets

 

Debtors

5

1,292

2,606

Cash at bank and in hand

 

28,332

22,750

 

29,624

25,356

Creditors: Amounts falling due within one year

6

(24,362)

(20,344)

Net current assets

 

5,262

5,012

Total assets less current liabilities

 

320,205

339,115

Provisions for liabilities

(1,160)

(2,912)

Net assets

 

319,045

336,203

Capital and reserves

 

Called up share capital

427,839

427,839

Retained earnings

(108,794)

(91,636)

Shareholders' funds

 

319,045

336,203

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

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 Board on 14 March 2024 and signed on its behalf by:
 

.........................................
J A A Hughes
Director

 

Hopgrove Farm Holiday Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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:
Hopgrove Farm
Malton Road
York
North Yorkshire
YO32 9TH

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 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.

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

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of holiday cottages in the ordinary course of the company’s activities. Turnover is shown net of 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

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 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.

 

Hopgrove Farm Holiday Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Freehold property

2% straight line basis

Fixtures and fittings

25% straight line basis

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. 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.

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.

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.

 

Hopgrove Farm Holiday Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 8).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
 £

Total
£

Cost or valuation

At 1 July 2022

501,043

78,579

579,622

Additions

-

1,113

1,113

At 30 June 2023

501,043

79,692

580,735

Depreciation

At 1 July 2022

199,253

46,266

245,519

Charge for the year

10,021

10,252

20,273

At 30 June 2023

209,274

56,518

265,792

Carrying amount

At 30 June 2023

291,769

23,174

314,943

At 30 June 2022

301,790

32,313

334,103

Included within the net book value of land and buildings above is £291,769 (2022 - £301,790) in respect of freehold land and buildings.
 

5

Debtors

2023
£

2022
£

Taxation and social security

-

19

Prepayments

1,292

1,177

Other debtors

-

1,410

1,292

2,606

 

Hopgrove Farm Holiday Cottages Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

1,046

2,088

Accruals and deferred income

13,206

8,746

Directors' loan accounts

10,110

9,510

24,362

20,344