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REGISTERED NUMBER: 01404481 (England and Wales)












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: Mrs L Hopwell
T C Hopwell
I F Merrilees
K Peck
A T Hopwell
M P Field
Ms A Acton
M Bailey
A Dawson





SECRETARY: M P Field





REGISTERED OFFICE: Glaisdale Drive
Bilborough
Nottingham
Nottinghamshire
NG8 4LU





REGISTERED NUMBER: 01404481 (England and Wales)





AUDITORS: Clayton & Brewill
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:





T C Hopwell - Director


2 July 2024

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.

Mrs L Hopwell
T C Hopwell
I F Merrilees
K Peck
A T Hopwell
M P Field

Other changes in directors holding office are as follows:

Ms A Acton , M Bailey and A Dawson were appointed as directors after 29 December 2023 but prior to the date of this report.

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:





T C Hopwell - Director


2 July 2024

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.




Neil South BA FCA (Senior Statutory Auditor)
for and on behalf of Clayton & Brewill
Statutory Auditors and
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

2 July 2024

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 71,900,650 66,247,937

Cost of sales 54,776,451 50,051,591
GROSS PROFIT 17,124,199 16,196,346

Distribution costs 10,690,312 10,232,411
Administrative expenses 4,625,493 4,480,233
15,315,805 14,712,644
OPERATING PROFIT 5 1,808,394 1,483,702

Interest receivable and similar income 94,290 21,548
PROFIT BEFORE TAXATION 1,902,684 1,505,250

Tax on profit 6 569,984 279,761
PROFIT FOR THE FINANCIAL
PERIOD

1,332,700

1,225,489

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

1,332,700

1,225,489

Hopwells Ltd (Registered number: 01404481)

Balance Sheet
29 December 2023

29/12/23 30/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 5,000,000 -
Tangible assets 9 3,039,964 482,773
Investments 10 48,400 -
8,088,364 482,773

CURRENT ASSETS
Stocks 11 4,893,700 3,978,912
Debtors 12 8,999,084 7,346,893
Cash at bank and in hand 1,818,390 6,937,295
15,711,174 18,263,100
CREDITORS
Amounts falling due within one year 13 10,409,284 6,780,998
NET CURRENT ASSETS 5,301,890 11,482,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,390,254

11,964,875

PROVISIONS FOR LIABILITIES 15 132,679 -
NET ASSETS 13,257,575 11,964,875

CAPITAL AND RESERVES
Called up share capital 16 230,845 230,845
Share premium 17 4,000 4,000
Capital redemption reserve 17 86,955 86,955
Retained earnings 17 12,935,775 11,643,075
SHAREHOLDERS' FUNDS 13,257,575 11,964,875

The financial statements were approved by the Board of Directors and authorised for issue on 2 July 2024 and were signed on its behalf by:





T C Hopwell - Director


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 230,845 10,457,586 4,000 86,955 10,779,386

Changes in equity
Dividends - (40,000 ) - - (40,000 )
Total comprehensive income - 1,225,489 - - 1,225,489
Balance at 30 December 2022 230,845 11,643,075 4,000 86,955 11,964,875

Changes in equity
Dividends - (40,000 ) - - (40,000 )
Total comprehensive income - 1,332,700 - - 1,332,700
Balance at 29 December 2023 230,845 12,935,775 4,000 86,955 13,257,575

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 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of twenty years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 3 years, Straight line over 15 years, Straight line over 10 years and Straight line over 11 years
Plant & machinery - Straight line over 3 years, Straight line over 4 years, Straight line over 5 years, Straight line over 24 years, Straight line over 10 years, Straight line over 30 years and Straight line over 25 years

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 71,900,650 66,247,937
71,900,650 66,247,937

4. EMPLOYEES AND DIRECTORS
Period Period
31/12/22 1/1/22
to to
29/12/23 30/12/22
£    £   
Wages and salaries 7,517,651 7,240,599
Other pension costs 551,117 507,687
8,068,768 7,748,286

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
252 245

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 466,904 525,011
Directors' pension contributions to money purchase schemes 64,500 64,500

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 5 5

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 128,750 127,099
Pension contributions to money purchase schemes 24,500 24,500

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 222,393 311,603
Auditors' remuneration 32,136 28,632

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 64,322 309,663

Deferred tax 505,662 (29,902 )
Tax on profit 569,984 279,761

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 5,000,000
At 29 December 2023 5,000,000
NET BOOK VALUE
At 29 December 2023 5,000,000

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 assets413
Investments48
Debtors2,544
Creditors: amounts falling due within one year(1,163)
Corporation tax(238)
Net assets transferred1,604

Consideration6,604
Goodwill arising5,000

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 - 671,810 3,794,649 4,466,459
Additions 2,100,000 144,990 121,581 2,366,571
Reclassification/transfer - - 1,629,320 1,629,320
At 29 December 2023 2,100,000 816,800 5,545,550 8,462,350
DEPRECIATION
At 31 December 2022 - 601,327 3,382,359 3,983,686
Charge for period - 32,058 190,335 222,393
Reclassification/transfer - - 1,216,307 1,216,307
At 29 December 2023 - 633,385 4,789,001 5,422,386
NET BOOK VALUE
At 29 December 2023 2,100,000 183,415 756,549 3,039,964
At 30 December 2022 - 70,483 412,290 482,773

10. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Reclassification/transfer 48,400
At 29 December 2023 48,400
NET BOOK VALUE
At 29 December 2023 48,400

11. STOCKS
29/12/23 30/12/22
£    £   
Consumables 80,843 83,750
Goods for resale 4,812,857 3,895,162
4,893,700 3,978,912

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/12/23 30/12/22
£    £   
Trade debtors 5,334,689 3,937,327
Other debtors 2,913,369 2,625,222
VAT 191,855 117,666
Deferred tax asset - 372,983
Prepayments 559,171 293,695
8,999,084 7,346,893

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 3,876,211 2,804,261
Amounts owed to group undertakings 1,783,044 -
Corporation tax 302,195 309,663
Social security and other taxes 304,282 234,999
Accruals and deferred income 4,143,552 3,432,075
10,409,284 6,780,998

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29/12/23 30/12/22
£    £   
Within one year 336,090 36,090
Between one and five years 1,157,143 93,233
1,493,233 129,323

15. PROVISIONS FOR LIABILITIES
29/12/23
£   
Deferred tax 132,679

Deferred
tax
£   
Balance at 31 December 2022 (372,983 )
Provided during period 129,938
Utilised during period 375,724
Balance at 29 December 2023 132,679

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

Entities with control, joint control or significant influence over the entity
29/12/23 30/12/22
£    £   
Sales 61,179 46,626
Purchases 3,159,850 2,813,462
Amount due to related party 1,783,044 75,231