PTP Accounts Production v24.1.0.578 12724753 Board of Directors 1.8.22 31.7.23 31.7.23 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh127247532022-07-31127247532023-07-31127247532022-08-012023-07-31127247532021-07-31127247532021-08-012022-07-31127247532022-07-3112724753ns15:EnglandWales2022-08-012023-07-3112724753ns14:PoundSterling2022-08-012023-07-3112724753ns10:Director12022-08-012023-07-3112724753ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3112724753ns10:SmallEntities2022-08-012023-07-3112724753ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3112724753ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3112724753ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3112724753ns10:FullAccounts2022-08-012023-07-3112724753ns10:OrdinaryShareClass12022-08-012023-07-3112724753ns10:Director22022-08-012023-07-3112724753ns10:RegisteredOffice2022-08-012023-07-3112724753ns5:CurrentFinancialInstruments2023-07-3112724753ns5:CurrentFinancialInstruments2022-07-3112724753ns5:Non-currentFinancialInstruments2023-07-3112724753ns5:Non-currentFinancialInstruments2022-07-3112724753ns5:ShareCapital2023-07-3112724753ns5:ShareCapital2022-07-3112724753ns5:RetainedEarningsAccumulatedLosses2023-07-3112724753ns5:RetainedEarningsAccumulatedLosses2022-07-3112724753ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-07-3112724753ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-07-3112724753ns5:Secured2023-07-3112724753ns5:Secured2022-07-3112724753ns10:OrdinaryShareClass12023-07-31
REGISTERED NUMBER: 12724753 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

HOPE KEY LIMITED

HOPE KEY LIMITED (REGISTERED NUMBER: 12724753)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOPE KEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: MAJ Hope
L T Hope





REGISTERED OFFICE: Dean House, 94 Whiteladies Road
C/o Gordon Wood Scott & Partners Limited
Bristol
United Kingdom
BS8 2QX





BUSINESS ADDRESS: Greenway
Hazelwood Road
Bristol
BS9 1PS





REGISTERED NUMBER: 12724753 (England and Wales)





ACCOUNTANTS: Gordon Wood Scott & Partners Limited
Chartered Accountants
Dean House
94 Whiteladies Road
Clifton
Bristol
BS8 2QX

HOPE KEY LIMITED (REGISTERED NUMBER: 12724753)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Investment property 4 609,340 210,000

CURRENT ASSETS
Debtors 5 1,024 -
Cash at bank 3,343 2,248
4,367 2,248
CREDITORS
Amounts falling due within one year 6 (427,194 ) (64,159 )
NET CURRENT LIABILITIES (422,827 ) (61,911 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

186,513

148,089

CREDITORS
Amounts falling due after more than one
year

7

(156,588

)

(116,347

)

PROVISIONS FOR LIABILITIES (7,542 ) (7,996 )
NET ASSETS 22,383 23,746

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 22,283 23,646
SHAREHOLDERS' FUNDS 22,383 23,746

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

HOPE KEY LIMITED (REGISTERED NUMBER: 12724753)

BALANCE SHEET - continued
31 JULY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





MAJ Hope - Director


HOPE KEY LIMITED (REGISTERED NUMBER: 12724753)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Hope Key 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.

Turnover
Turnover, stated net of value added tax, represents rental income due to the company for the accounting period.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in the market value is transferred to a revaluation reserve.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 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.

3. EMPLOYEES AND DIRECTORS

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

HOPE KEY LIMITED (REGISTERED NUMBER: 12724753)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 210,000
Additions 399,340
At 31 July 2023 609,340
NET BOOK VALUE
At 31 July 2023 609,340
At 31 July 2022 210,000

The Investment Property has been valued by the directors at the period end based on an open market basis on information afforded by recent professional valuations of similar properties and on advice provided by external valuers.

The values shown above are analysed as follows:


Investment
property
£   

Revaluation surplus 48,945
Cost 560,395
Total 609,340

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Prepayments and accrued income 1,024 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 3,695 -
Other creditors 304,340 -
Directors' loan accounts 118,198 63,198
Accruals and deferred income 961 961
427,194 64,159

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans more 5 yrs non-inst 156,588 116,347

HOPE KEY LIMITED (REGISTERED NUMBER: 12724753)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.7.23 31.7.22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 156,588 116,347

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 156,588 116,347

The bank loan is secured by fixed and floating charges over the company's assets together with personal guarantees from the directors.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

The directors have loaned £118,198 to the company. The loans are repayable on demand. No loan interest was charged during the year.