Hepworth Holdings (East Anglia) Ltd 03305928 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the letting of commercial premises. Digita Accounts Production Advanced 6.30.9574.0 true true 03305928 2023-04-01 2024-03-31 03305928 2024-03-31 03305928 bus:OrdinaryShareClass1 2024-03-31 03305928 bus:OrdinaryShareClass2 2024-03-31 03305928 bus:OrdinaryShareClass3 2024-03-31 03305928 bus:OrdinaryShareClass4 2024-03-31 03305928 core:CurrentFinancialInstruments 2024-03-31 03305928 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03305928 core:AllSubsidiaries 2024-03-31 03305928 bus:SmallEntities 2023-04-01 2024-03-31 03305928 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03305928 bus:FilletedAccounts 2023-04-01 2024-03-31 03305928 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03305928 bus:RegisteredOffice 2023-04-01 2024-03-31 03305928 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 03305928 bus:Director1 2023-04-01 2024-03-31 03305928 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 03305928 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 03305928 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 03305928 bus:OrdinaryShareClass4 2023-04-01 2024-03-31 03305928 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03305928 core:AllSubsidiaries 2023-04-01 2024-03-31 03305928 core:AllSubsidiaries core:Leases 2023-04-01 2024-03-31 03305928 core:OtherRelatedParties 2023-04-01 2024-03-31 03305928 core:OtherRelatedParties core:Leases 2023-04-01 2024-03-31 03305928 countries:EnglandWales 2023-04-01 2024-03-31 03305928 2023-03-31 03305928 core:AllSubsidiaries 2023-03-31 03305928 2022-04-01 2023-03-31 03305928 2023-03-31 03305928 bus:OrdinaryShareClass1 2023-03-31 03305928 bus:OrdinaryShareClass2 2023-03-31 03305928 bus:OrdinaryShareClass3 2023-03-31 03305928 bus:OrdinaryShareClass4 2023-03-31 03305928 core:CurrentFinancialInstruments 2023-03-31 03305928 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03305928 core:AllSubsidiaries 2023-03-31 03305928 core:AllSubsidiaries 2022-04-01 2023-03-31 03305928 core:AllSubsidiaries core:Leases 2022-04-01 2023-03-31 03305928 core:OtherRelatedParties core:Leases 2022-04-01 2023-03-31 03305928 2022-03-31 03305928 core:AllSubsidiaries 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03305928

Hepworth Holdings (East Anglia) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Hepworth Holdings (East Anglia) Ltd

Contents

Company Information

1

Statement of financial position

2

Notes to the Unaudited Financial Statements

3 to 8

 

Hepworth Holdings (East Anglia) Ltd

Company Information

Directors

Dr NJ Hancock

Mr PG Hancock

Company secretary

Mr PG Hancock

Registered office

19 King Street
King's Lynn
Norfolk
PE30 1HB

Accountants

Hayhow & Co
Chartered Certified Accountants & Business Advisers
19 King Street
King's Lynn
Norfolk
PE30 1HB

 

Hepworth Holdings (East Anglia) Ltd

(Registration number: 03305928)
Statement of financial position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,875,750

1,537,107

Investments

5

100

100

 

1,875,850

1,537,207

Current assets

 

Debtors

6

184,370

159,497

Cash at bank and in hand

 

1,927,059

1,467,212

 

2,111,429

1,626,709

Creditors: Amounts falling due within one year

7

(38,243)

(23,287)

Net current assets

 

2,073,186

1,603,422

Net assets

 

3,949,036

3,140,629

Capital and reserves

 

Called up share capital

8

100

100

Revaluation reserve

121,397

121,397

Retained earnings

3,827,539

3,019,132

Shareholders' funds

 

3,949,036

3,140,629

For the financial year ending 31 March 2024 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Statement of comprehensive income.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

.........................................
Mr PG Hancock
Company secretary and director

 

Hepworth Holdings (East Anglia) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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:
19 King Street
King's Lynn
Norfolk
PE30 1HB

These financial statements were authorised for issue by the Board on 17 April 2024.

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.

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 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.

Tax

The tax expense for the period comprises current 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 income 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.

 

Hepworth Holdings (East Anglia) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

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.

 

Hepworth Holdings (East Anglia) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Hepworth Holdings (East Anglia) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Investment properties

2024
£

At 1 April

1,537,107

Additions

338,643

At 31 March

1,875,750

The investment properties were valued by independent valuers Landles in June 2019.
The commerical investment property is rented to Barsby Produce Limited, the subsidiary company. The historic cost of the property was £828,603. The company has allowed a floating charge over the company's assets as security for the bank loans, in previous years. The residential property, is rented at market value to a shareholder of the company.

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

The subsidiary undertaking represents the cost of the acquisition of the 80% share capital of Barsby Produce Limited.

 

Hepworth Holdings (East Anglia) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

160,170

134,297

Other debtors

 

24,200

25,200

 

184,370

159,497

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

2,380

Amounts due to related parties

9

270

67

Social security and other taxes

 

3,995

2,451

Accruals

 

1,842

1,313

Tax liability

32,136

17,076

 

38,243

23,287

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

75

75

75

75

Ordinary B of £1 each

15

15

15

15

Ordinary C of £1 each

5

5

5

5

Ordinary D of £1 each

5

5

5

5

100

100

100

100

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.

 

Hepworth Holdings (East Anglia) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

Summary of transactions with subsidiaries

Hepworth Holdings (East Anglia) Limited is the parent company of Barsby Produce Limited. The directors of Hepworth Holdings (East Anglia) Limited are also the directors of Barsby Produce Limited.
 

Summary of transactions with other related parties

The residential property is rented to a shareholder at market value.
 

Income and receivables from related parties

2024

Subsidiary
£

Other related parties
£

Rent

132,000

13,200

2023

Subsidiary
£

Other related parties
£

Rent

108,000

11,000

Loans to related parties

2024

Subsidiary
£

Total
£

At start of period

134,297

134,297

Advanced

25,873

25,873

At end of period

160,170

160,170

2023

Subsidiary
£

Total
£

At start of period

112,652

112,652

Advanced

21,645

21,645

At end of period

134,297

134,297