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REGISTERED NUMBER: 02917029 (England and Wales)















HIDE PARK LEATHER CO. LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






HIDE PARK LEATHER CO. LIMITED (REGISTERED NUMBER: 02917029)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


HIDE PARK LEATHER CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Mrs C L Donger





REGISTERED OFFICE: 14 The Paddocks
Bottesford
Nottingham
Nottinghamshire
NG13 0BD





REGISTERED NUMBER: 02917029 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

HIDE PARK LEATHER CO. LIMITED (REGISTERED NUMBER: 02917029)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 558,325 567,867
Investments 6 100 100
558,425 567,967

CURRENT ASSETS
Stocks 962,515 849,008
Debtors 7 381,149 451,025
Cash at bank and in hand 680,924 858,238
2,024,588 2,158,271
CREDITORS
Amounts falling due within one year 8 255,810 378,966
NET CURRENT ASSETS 1,768,778 1,779,305
TOTAL ASSETS LESS CURRENT LIABILITIES 2,327,203 2,347,272

PROVISIONS FOR LIABILITIES 15,061 10,652
NET ASSETS 2,312,142 2,336,620

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 2,311,142 2,335,620
SHAREHOLDERS' FUNDS 2,312,142 2,336,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 11 March 2024 and were signed by:





Mrs C L Donger - Director


HIDE PARK LEATHER CO. LIMITED (REGISTERED NUMBER: 02917029)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Hide Park Leather Co. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Intangible fixed assets
Intangible fixed assets consist of brand development costs and are amortised to write off the costs over their expected useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Lease- over the term of the lease
Leasehold property- 2% on cost
Fixtures, fittings and equipment- 30% on reducing balance
Motor vehicles- 25% on reducing balance


Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Stocks
Stocks are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

HIDE PARK LEATHER CO. LIMITED (REGISTERED NUMBER: 02917029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

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.

Turnover
Turnover represents fair value of net invoiced sales of goods, excluding value added tax. Revenue is recognised on despatch of goods.

Preparation of consolidated financial statements
The company has taken the option under Section 399 of the Companies Act 2006 not to prepare consolidated financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022
and 30 June 2023 717
AMORTISATION
At 1 July 2022
and 30 June 2023 717
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Leasehold and Motor
Lease property equipment vehicles Totals
£    £    £    £    £   
COST
At 1 July 2022 253,672 391,489 92,843 94,113 832,117
Additions - - 29,160 - 29,160
At 30 June 2023 253,672 391,489 122,003 94,113 861,277
DEPRECIATION
At 1 July 2022 26,377 115,100 81,440 41,333 264,250
Charge for year 2,029 7,830 12,898 15,945 38,702
At 30 June 2023 28,406 122,930 94,338 57,278 302,952
NET BOOK VALUE
At 30 June 2023 225,266 268,559 27,665 36,835 558,325
At 30 June 2022 227,295 276,389 11,403 52,780 567,867

HIDE PARK LEATHER CO. LIMITED (REGISTERED NUMBER: 02917029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 30 June 2023 100
NET BOOK VALUE
At 30 June 2023 100
At 30 June 2022 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,680 86,617
Other debtors 85,119 81,250
Directors' loan accounts 250,000 250,000
Prepayments and accrued income 18,350 33,158
381,149 451,025

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 217,510 234,984
Taxation - 92,320
Other taxes and social security - 30,285
VAT 23,875 -
Accrued expenses 14,425 21,377
255,810 378,966

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
Mrs C L Donger
Balance outstanding at start of year 250,000 -
Amounts advanced - 250,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 250,000 250,000

The above loan is unsecured, interest free and repayable on demand.