REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements |
for the Period 31 December 2022 to 29 December 2023 |
for |
Hopwells Ltd |
REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements |
for the Period 31 December 2022 to 29 December 2023 |
for |
Hopwells Ltd |
Hopwells Ltd (Registered number: 01404481) |
Contents of the Financial Statements |
for the period 31 December 2022 to 29 December 2023 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 5 |
Report of the Independent Auditors | 7 |
Statement of Comprehensive Income | 10 |
Balance Sheet | 11 |
Statement of Changes in Equity | 12 |
Notes to the Financial Statements | 13 |
Hopwells Ltd |
Company Information |
for the period 31 December 2022 to 29 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors and |
Chartered Accountants |
Cawley House |
149-155 Canal Street |
Nottingham |
Nottinghamshire |
NG1 7HR |
Hopwells Ltd (Registered number: 01404481) |
Strategic Report |
for the period 31 December 2022 to 29 December 2023 |
The directors present their strategic report for the period 31 December 2022 to 29 December 2023. |
REVIEW OF BUSINESS |
The company supplies frozen food primarily into the Schools and Hospitality sectors. 2023 saw a rise in both Turnover and profitability for the company. |
2023 saw ongoing pressure in respect of availability and costs of both commodities and supplies for resale. The sector continues to suffer price pressure from suppliers therefore the company is keeping under review the availability of products and pricing and maintaining a dialogue with key customers in respect of such matters. |
The Directors have reviewed the cash requirements of the business in the light of the ongoing trading environment and are confident that the company has sufficient cash resources to enable it to continue to trade for the foreseeable future. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The directors have assessed the main strategic risks facing the business as: |
- The performance of the UK economy and the shortage of available staff following the pandemic on the Hospitality sector, to mitigate this the company's business is split circa 50:50 between public sector contracts and private sector business; |
- The impact of the War in Ukraine and the Red Sea Shipping issues on pricing and availability of products and commodities; the company is keeping under review product availability and pricing and where possible is sourcing alternative products to cover shortfalls; |
- Credit risk, the company continuously monitors customers debt levels against credit referencing data and requires payment in advance or on delivery where appropriate; |
- Loss of one or more contracts contract customers; the company continuously monitors performance levels on key contracts and has regular review meetings with these contracts. |
KEY PERFORMANCE INDICATORS |
The Directors regularly review the company's performance against key performance indicators, the main KPI's are Turnover, profitability, cashflow, service levels. |
FUTURE DEVELOPMENTS |
The Directors continue to look for opportunities to expand both the geographical footprint serviced and the range of products offered in order to grow the business, 2024 will see the launch of Ambient Goods range across much of the company's geographic foot print. In addition, the company continues to invest in new technologies, equipment and staff. |
Hopwells Ltd (Registered number: 01404481) |
Strategic Report |
for the period 31 December 2022 to 29 December 2023 |
SECTION 172(1) STATEMENT |
Hopwells Limited is a family owned and managed business. The directors have acted in the way they consider, in good faith, promotes the success of the company for the benefit of its stakeholders as a whole. |
BUSINESS RELATIONSHIPS |
The directors recognise the need to build strong long-standing relationships with both customers and suppliers is fundamental to the success of the company. The company continues to develop strategies to maintain and expand our customer base and strengthen our supplier relationships. |
The company agrees terms of payments with our suppliers on an annual basis in line with normal trade practices and provided a supplier performs in accordance with the agreement abides by such terms. |
OUR PEOPLE |
As a family owned and managed business the company is committed to being a responsible business. The company's behaviour is based upon our traditional family values and is aligned with the expectations of our people, customers, shareholders, communities and society as a whole. People are at the heart of delivering a quality service both internally and externally. The company has for many years looked to actively develop our own people in order to wherever possible progress our employees through the business. |
HEALTH AND SAFETY |
The company promoted the health and safety of all its employees as well as suppliers, customers and visitors whilst on our premises. We are committed as a company to prevent injury and ill health and strive towards continual improvement in all our activities. |
DISABLED EMPLOYEES |
Applications for employment by disabled persons are always fully considered where the requirements of the role can be adequately fulfilled by a disabled person. In the event of a member of staff becoming disabled every effort is made to ensure that their employment with the company continues and that appropriate training is provided . It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees. |
EMPLOYEE INVOLVEMENT |
The board believed that although successful employee involvement requires support and impetus from management, the key to its effectiveness lies in giving it a local focus. Rather than relying wholly, however, on formal systems and structures, great importance is attached to the managerial style and the quality of direct contact and relationship with employees. |
COMMUNITY, CHARITY AND ENVIRONMENT |
The company looks to create positive change for the people and communities in which we operate as and when opportunities arise. |
The company recognises the importance of its environmental responsibilities. |
CULTURE AND VALUES |
The directors recognise the importance of having the right corporate culture. The long-term success of the company is dependant on achieving our strategic goals in such a way as to look after the best interests of our shareholders, customers, suppliers, employees and other stakeholders. |
SHAREHOLDERS |
All shareholders are also directors of the company and through attendance at board meetings are kept informed of the company's progress. |
POLITICAL DONATIONS |
The company does not make any donations to any political party or organisation. |
Hopwells Ltd (Registered number: 01404481) |
Strategic Report |
for the period 31 December 2022 to 29 December 2023 |
STREAMLINED ENERGY AND CARBON REPORTING |
The table below summaries the greenhouse gas emissions for the year ended 31 December 2023. The company has been assessing its greenhouse gas emissions since 2013. |
2023 | 2022 |
kWh | kWh |
Total Energy Consumption | 16,716,890 | 14,899,500 |
2023 | 2022 |
tCO2e | tCO2e |
Scope 1 |
Company lorries | 3,022,85 | 2,220.89 |
Refrigerants | 639,77 | 298.53 |
Company car travel | 116,31 | 79.97 |
Van transport | 70,45 | 29.61 |
Natural gas | 35.15 | 27.11 |
3,884.53 | 2.656.13 |
Scope 2 |
Electricity generation | 732.08 | 706.94 |
Scope 3 |
Electricity transmission & distribution | 66.97 | 62.56 |
Company vehicles off-site charging | 0.14 | 0.00 |
Gross total tonnes of CO2e | 4,683.71 | 3,425.62 |
SECR elements only (excludes refrigerants and electricity transmission and distribution) |
3,976.97 |
3,064.53 |
Tonnes of CO2e per employee | 18.66 | 13.93 |
Tonnes of CO2e per £m turnover | 67.88 | 69.42 |
Carbon offsets | - | - |
Net total of tonnes of CO2e | 4,683.71 | 3,425.62 |
The GHG emissions have been assessed following the ISO 14064-1:2018 standard and has used the 2022 emission conversion factors published by Department for Environment, Food and Rural Affairs (Detra) and the Department for Business, Energy & Industrial Strategy (BEIS). The assessment follows the dual reporting approach for assessing Scope 2 emissions from electricity usage. The operational control approach has been used. |
ON BEHALF OF THE BOARD: |
Hopwells Ltd (Registered number: 01404481) |
Report of the Directors |
for the period 31 December 2022 to 29 December 2023 |
The directors present their report with the financial statements of the company for the period 31 December 2022 to 29 December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the period under review was that of frozen food distribution. |
DIVIDENDS |
The total distribution of dividends for the period ended 29th December 2023 will be £40,000. |
FUTURE DEVELOPMENTS |
The directors do not foresee any changes to the principal activities of the company. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 31 December 2022 to the date of this report. |
Other changes in directors holding office are as follows: |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
Hopwells Ltd (Registered number: 01404481) |
Report of the Directors |
for the period 31 December 2022 to 29 December 2023 |
AUDITORS |
The auditors, Clayton & Brewill, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Hopwells Ltd |
Opinion |
We have audited the financial statements of Hopwells Ltd (the 'company') for the period ended 29 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 29 December 2023 and of its profit for the period then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Hopwells Ltd |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
- Enquiry of management and those charged with governance around actual and potential litigation and claims; |
- Reviewing minutes of meetings of those charged with governance |
- Reviewing financial statement disclosures and testing to supporting documentation to assess |
compliance with applicable laws and regulations; |
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Report of the Independent Auditors to the Members of |
Hopwells Ltd |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Statutory Auditors and |
Chartered Accountants |
Cawley House |
149-155 Canal Street |
Nottingham |
Nottinghamshire |
NG1 7HR |
Hopwells Ltd (Registered number: 01404481) |
Statement of Comprehensive |
Income |
for the period 31 December 2022 to 29 December 2023 |
Period | Period |
31/12/22 to 29/12/23 | 1/1/22 to 30/12/22 |
Notes | £ | £ | £ | £ |
TURNOVER | 3 |
Cost of sales |
GROSS PROFIT |
Distribution costs |
Administrative expenses |
15,315,805 | 14,712,644 |
OPERATING PROFIT | 5 |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL PERIOD |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
Hopwells Ltd (Registered number: 01404481) |
Balance Sheet |
29 December 2023 |
29/12/23 | 30/12/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 |
Tangible assets | 9 |
Investments | 10 |
CURRENT ASSETS |
Stocks | 11 |
Debtors | 12 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 13 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 15 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 16 |
Share premium | 17 |
Capital redemption reserve | 17 |
Retained earnings | 17 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Hopwells Ltd (Registered number: 01404481) |
Statement of Changes in Equity |
for the period 31 December 2022 to 29 December 2023 |
Called up | Capital |
share | Retained | Share | redemption | Total |
capital | earnings | premium | reserve | equity |
£ | £ | £ | £ | £ |
Balance at 1 January 2022 |
Changes in equity |
Dividends | - | (40,000 | ) | - | - | ( |
) |
Total comprehensive income | - | - |
Balance at 30 December 2022 |
Changes in equity |
Dividends | - | (40,000 | ) | - | - | ( |
) |
Total comprehensive income | - | - |
Balance at 29 December 2023 |
Hopwells Ltd (Registered number: 01404481) |
Notes to the Financial Statements |
for the period 31 December 2022 to 29 December 2023 |
1. | STATUTORY INFORMATION |
Hopwells Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
• | the requirements of Section 7 Statement of Cash Flows. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Improvements to property | - |
Plant & machinery | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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. |
Hopwells Ltd (Registered number: 01404481) |
Notes to the Financial Statements - continued |
for the period 31 December 2022 to 29 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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 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. |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by geographical market is given below: |
Period | Period |
31/12/22 | 1/1/22 |
to | to |
29/12/23 | 30/12/22 |
£ | £ |
United Kingdom |
4. | EMPLOYEES AND DIRECTORS |
Period | Period |
31/12/22 | 1/1/22 |
to | to |
29/12/23 | 30/12/22 |
£ | £ |
Wages and salaries |
Other pension costs |
The average number of employees during the period was as follows: |
Period | Period |
31/12/22 | 1/1/22 |
to | to |
29/12/23 | 30/12/22 |
Administration | 49 | 39 |
Sales | 35 | 38 |
Delivery and warehouse | 168 | 168 |
Hopwells Ltd (Registered number: 01404481) |
Notes to the Financial Statements - continued |
for the period 31 December 2022 to 29 December 2023 |
4. | EMPLOYEES AND DIRECTORS - continued |
Period | Period |
31/12/22 | 1/1/22 |
to | to |
29/12/23 | 30/12/22 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
Information regarding the highest paid director is as follows: |
Period | Period |
31/12/22 | 1/1/22 |
to | to |
29/12/23 | 30/12/22 |
£ | £ |
Emoluments etc |
Pension contributions to money purchase schemes |
5. | OPERATING PROFIT |
The operating profit is stated after charging: |
Period | Period |
31/12/22 | 1/1/22 |
to | to |
29/12/23 | 30/12/22 |
£ | £ |
Depreciation - owned assets |
Auditors' remuneration |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the period was as follows: |
Period | Period |
31/12/22 | 1/1/22 |
to | to |
29/12/23 | 30/12/22 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax | ( |
) |
Tax on profit |
Hopwells Ltd (Registered number: 01404481) |
Notes to the Financial Statements - continued |
for the period 31 December 2022 to 29 December 2023 |
7. | DIVIDENDS |
Period | Period |
31/12/22 | 1/1/22 |
to | to |
29/12/23 | 30/12/22 |
£ | £ |
Director shares of £1 each |
Interim dividend on Director's shares | 40,000 | 40,000 |
8. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
Additions |
At 29 December 2023 |
NET BOOK VALUE |
At 29 December 2023 |
On 29 December 2023 the trade and assets of Ortoncrest Holdings Limited were transferred to the company for a consideration equal to the fair value of the assets transferred. The assets and liabilities transferred to the company were: |
Fair value on |
transfer |
£ |
Tangible assets | 413 |
Investments | 48 |
Debtors | 2,544 |
Creditors: amounts falling due within one year | (1,163 | ) |
Corporation tax | (238 | ) |
Net assets transferred | 1,604 |
Consideration | 6,604 |
Goodwill arising | 5,000 |
Hopwells Ltd (Registered number: 01404481) |
Notes to the Financial Statements - continued |
for the period 31 December 2022 to 29 December 2023 |
9. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant & |
property | property | machinery | Totals |
£ | £ | £ | £ |
COST |
At 31 December 2022 |
Additions |
Reclassification/transfer |
At 29 December 2023 |
DEPRECIATION |
At 31 December 2022 |
Charge for period |
Reclassification/transfer |
At 29 December 2023 |
NET BOOK VALUE |
At 29 December 2023 |
At 30 December 2022 |
10. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Reclassification/transfer |
At 29 December 2023 |
NET BOOK VALUE |
At 29 December 2023 |
11. | STOCKS |
29/12/23 | 30/12/22 |
£ | £ |
Consumables | 80,843 | 83,750 |
Goods for resale | 4,812,857 | 3,895,162 |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29/12/23 | 30/12/22 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Deferred tax asset |
Prepayments |
Hopwells Ltd (Registered number: 01404481) |
Notes to the Financial Statements - continued |
for the period 31 December 2022 to 29 December 2023 |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29/12/23 | 30/12/22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
Accruals and deferred income |
14. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
29/12/23 | 30/12/22 |
£ | £ |
Within one year |
Between one and five years |
15. | PROVISIONS FOR LIABILITIES |
29/12/23 |
£ |
Deferred tax | 132,679 |
Deferred |
tax |
£ |
Balance at 31 December 2022 | ( |
) |
Provided during period |
Utilised during period |
Balance at 29 December 2023 |
16. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal value: | 2023 | 2022 |
£ | £ |
190,845 | Ordinary | £1 | 190,845 | 190,845 |
40,000 | Director's | £1 | 40,000 | 40,000 |
230,845 | 230,845 |
The Director's shares are preferential over the ordinary shares as regards to the return of capital, but have no preference as regards to dividend rights, and they do not have any voting rights. |
Hopwells Ltd (Registered number: 01404481) |
Notes to the Financial Statements - continued |
for the period 31 December 2022 to 29 December 2023 |
17. | RESERVES |
Capital |
Retained | Share | redemption |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
At 31 December 2022 | 11,643,075 | 4,000 | 86,955 | 11,734,030 |
Profit for the period | 1,332,700 | 1,332,700 |
Dividends | (40,000 | ) | (40,000 | ) |
At 29 December 2023 | 12,935,775 | 4,000 | 86,955 | 13,026,730 |
18. | RELATED PARTY DISCLOSURES |
29/12/23 | 30/12/22 |
£ | £ |
Sales |
Purchases |
Amount due to related party |