2023-01-01 2023-12-31 false Capium Accounts Production 1.1 01780734 bus:FullAccounts 2023-01-01 2023-12-31 01780734 bus:FRS102 2023-01-01 2023-12-31 01780734 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01780734 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01780734 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01780734 2023-01-01 2023-12-31 01780734 2023-12-31 01780734 bus:RegisteredOffice 2023-01-01 2023-12-31 01780734 core:WithinOneYear 2023-12-31 01780734 core:AfterOneYear 2023-12-31 01780734 bus:Director1 2023-01-01 2023-12-31 01780734 bus:Director1 2023-12-31 01780734 bus:Director1 2022-01-01 2022-12-31 01780734 bus:Director2 2023-01-01 2023-12-31 01780734 bus:Director2 2023-12-31 01780734 bus:Director2 2022-01-01 2022-12-31 01780734 2022-01-01 01780734 bus:CompanySecretary1 2023-01-01 2023-12-31 01780734 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 01780734 2022-01-01 2022-12-31 01780734 2022-12-31 01780734 core:WithinOneYear 2022-12-31 01780734 core:AfterOneYear 2022-12-31 01780734 bus:EntityAccountantsOrAuditors 2022-01-01 2022-12-31 01780734 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 01780734 bus:OrdinaryShareClass1 2023-12-31 01780734 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 01780734 bus:OrdinaryShareClass1 2022-12-31 01780734 core:LandBuildings 2023-01-01 2023-12-31 01780734 core:LandBuildings 2023-12-31 01780734 core:LandBuildings 2022-12-31 01780734 core:PlantMachinery 2023-01-01 2023-12-31 01780734 core:PlantMachinery 2023-12-31 01780734 core:PlantMachinery 2022-12-31 01780734 core:MotorCars 2023-01-01 2023-12-31 01780734 core:MotorCars 2023-12-31 01780734 core:MotorCars 2022-12-31 01780734 core:ComputerEquipment 2023-01-01 2023-12-31 01780734 core:ComputerEquipment 2023-12-31 01780734 core:ComputerEquipment 2022-12-31 01780734 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-12-31 01780734 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-12-31 01780734 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 01780734 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 01780734 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 01780734 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2023-12-31 01780734 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2023-12-31 01780734 core:Non-currentFinancialInstruments 2023-12-31 01780734 core:Non-currentFinancialInstruments 2022-12-31 01780734 core:ShareCapital 2023-12-31 01780734 core:ShareCapital 2022-12-31 01780734 core:RetainedEarningsAccumulatedLosses 2023-12-31 01780734 core:RetainedEarningsAccumulatedLosses 2022-12-31 01780734 dpl:Item1 2023-01-01 01780734 dpl:Item1 2023-12-31 01780734 dpl:Item1 2022-01-01 01780734 dpl:Item1 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered Number: 01780734
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2023

for

HOVERSTOCK LIMITED

Directors Mr E L Perrott
Mr G E Perrott
Registered Number 01780734
Registered Office Netherhampton Farm
Netherhampton
Salisbury
Wiltshire
SP2 8PU
Accountants Numeric Accounting
Chartered Certified Accountants
Suite 1, The Portway Centre, Old Sarum Park, Old Sarum
Salisbury
Wiltshire
SP4 6EB
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,094,942    1,111,984 
Investments 4 639,574    619,777 
1,734,516    1,731,761 
Current assets      
Stocks 5 50,713    99,170 
Debtors: amounts falling due within one year 6 25,109    112,540 
Cash at bank and in hand 805,464    641,864 
881,286    853,574 
Creditors: amount falling due within one year 7 (23,888)   (35,366)
Net current assets 857,398    818,208 
 
Total assets less current liabilities 2,591,914    2,549,969 
Provisions for liabilities 8 (29,651)   (32,263)
Net assets 2,562,263    2,517,706 
 

Capital and reserves
     
Called up share capital 9 1,000    1,000 
Profit and loss account 2,561,263    2,516,706 
Shareholder's funds 2,562,263    2,517,706 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 07 April 2024 and were signed on its behalf by:


-------------------------------
Mr E L Perrott
Director
2
General Information
Hoverstock Limited is a private company, limited by shares, registered in England and Wales, registration number 01780734, registration address Netherhampton Farm, Netherhampton, Salisbury, Wiltshire, SP2 8PU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
The turnover shown in the profit and loss account represents goods sold during the year and subsidies received exclusive of Vat.
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 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 taxation
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
The company operates a defined contribution scheme for the benefit of its employees.
Contributions payable are recognised in profit and loss account when due.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
           Farmland                                                          not provided 
           Farm Buildings                                           2% straight Line
           Plant & Machinery                                    15% reducing balance
           Motor Vehicles                                          20% reducing balance
           Computer Equipment                               25% reducing balance
Fixed asset investments
Fixed asset investments comprise a residential investment property, a commercial investment property and a capital access bond . The properties are stated at fair value and the capital access bond is valued at cost plus bonuses added.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. 
Financial instruments
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
When a financial asset or financial liabilty is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is at a rate of interest that is not market rate.
At the end of each reporting period, an entity shall measure  all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.
2.

Average number of employees


Average number of employees during the year was 3 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Farmland and Buildings   Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £   £
At 01 January 2023 1,015,514    192,999    2,000    1,307    1,211,820 
Additions        
Disposals        
At 31 December 2023 1,015,514    192,999    2,000    1,307    1,211,820 
Depreciation
At 01 January 2023 13,422    83,924    1,502    988    99,836 
Charge for year 501    16,361    100    80    17,042 
On disposals        
At 31 December 2023 13,923    100,285    1,602    1,068    116,878 
Net book values
Closing balance as at 31 December 2023 1,001,591    92,714    398    239    1,094,942 
Opening balance as at 01 January 2023 1,002,092    109,075    498    319    1,111,984 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2023 619,777    619,777 
Additions 8,623    8,623 
Transfer to/from tangible fixed assets  
Disposals  
Revaluations 11,174    11,174 
At 31 December 2023 639,574    639,574 
Fixed asset investments comprise a residential investment property £200,000 (2022 £190,000), a commercial investment property £170,000 (2022 £168,826) and a capital access bond £269,574 (2022 £260,951). The historic cost of the properties is £319,643 and the historic cost of the bond is £250,000.

The residential & commercial investment properties are stated at fair value as provided by the director Mr E L Perrott, and the capital access bond at cost plus bonuses added.

5.

Stocks

2023
£
  2022
£
Valuation 50,713    99,170 
50,713    99,170 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors   89,641 
Prepayments 14,887    14,192 
Other Debtors 5,517    385 
Director: Mr E L Perrott 2,576    2,576 
VAT 2,129    5,746 
25,109    112,540 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors   864 
Corporation Tax 18,234    25,313 
PAYE & Social Security 616    430 
Accrued Expenses 4,795    7,486 
Other Creditors 243    1,273 
23,888    35,366 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax Brought Forward 32,263    36,011 
Charge For The Year (2,612)   (3,748)
29,651    32,263 

9.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

10.

Director’s loan

Advances to Directors

At the beginning of the year a director, Mr E L Perrott owed the company £2,576 which he fully repaid in March 2023. During the year he received further advances from the company of £3,176. Of this £600 was repaid by the director during the year leaving a balance of £2,576 owing to the company at 31 December 2023 which has been fully repaid since that date. No interest was charged on the loan by the company.


11.

Related Party Transactions

During the year the company paid dividends totalling £23,180 to the director Mr E L Perrott and  dividends totalling £610 to the director Mr G E Perrott.
12.

Fair Value Reserve

Included in the Profit & Loss Account Balance at 31 December 2023 is a Fair Value Reserve of £44,064 (2022 £34,393) arising from the revaluation of investment property which is not distributable.
3