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Company No: 04566703 (England and Wales)

WAYNE HOPTON LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

WAYNE HOPTON LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

WAYNE HOPTON LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2023
WAYNE HOPTON LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTOR Mr W A Hopton
SECRETARY Mrs V Hopton
REGISTERED OFFICE 41 Park Lane
Exeter
EX4 9HL
United Kingdom
COMPANY NUMBER 04566703 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
WAYNE HOPTON LIMITED

BALANCE SHEET

As at 31 October 2023
WAYNE HOPTON LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 4,386 5,218
4,386 5,218
Current assets
Stocks 34,913 30,200
Debtors 4 73,798 154,508
108,711 184,708
Creditors: amounts falling due within one year 5 ( 175,237) ( 209,705)
Net current liabilities (66,526) (24,997)
Total assets less current liabilities (62,140) (19,779)
Creditors: amounts falling due after more than one year 6 ( 22,659) ( 34,011)
Net liabilities ( 84,799) ( 53,790)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 84,899 ) ( 53,890 )
Total shareholder's deficit ( 84,799) ( 53,790)

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Wayne Hopton Limited (registered number: 04566703) were approved and authorised for issue by the Director on 31 July 2024. They were signed on its behalf by:

Mr W A Hopton
Director
WAYNE HOPTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
WAYNE HOPTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wayne Hopton Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 41 Park Lane, Exeter, EX4 9HL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £84,799. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 November 2022 23,215 13,145 36,360
Additions 0 737 737
At 31 October 2023 23,215 13,882 37,097
Accumulated depreciation
At 01 November 2022 21,230 9,912 31,142
Charge for the financial year 496 1,073 1,569
At 31 October 2023 21,726 10,985 32,711
Net book value
At 31 October 2023 1,489 2,897 4,386
At 31 October 2022 1,985 3,233 5,218

4. Debtors

2023 2022
£ £
Amounts owed by related parties 73,798 154,099
Other debtors 0 409
73,798 154,508

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 27,451 33,815
Other taxation and social security 52 0
Other creditors 147,734 175,890
175,237 209,705

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 22,659 34,011

There are no amounts included above in respect of which any security has been given.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Other related party transactions

2023 2022
£ £
Amounts owed by Hopton & Son Limited 73,798 154,099

No interest was charged and the balance is repayable on demand.