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HIPPO GUITARS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 23 MARCH 2023 TO 31 MARCH 2024






HIPPO GUITARS LTD (REGISTERED NUMBER: 14752744)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 23 MARCH 2023 TO 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HIPPO GUITARS LTD

COMPANY INFORMATION
FOR THE PERIOD 23 MARCH 2023 TO 31 MARCH 2024







DIRECTORS: W Arnold
Ms J Collins





REGISTERED OFFICE: 81 Osmaston Road
Derby
United Kingdom
Derbyshire
DE1 2JH





REGISTERED NUMBER: 14752744 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

HIPPO GUITARS LTD (REGISTERED NUMBER: 14752744)

BALANCE SHEET
31 MARCH 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 772

CURRENT ASSETS
Stocks 67,066
Debtors 5 7,436
Cash at bank and in hand 4,221
78,723
CREDITORS
Amounts falling due within one year 6 76,951
NET CURRENT ASSETS 1,772
TOTAL ASSETS LESS CURRENT LIABILITIES 2,544

PROVISIONS FOR LIABILITIES 100
NET ASSETS 2,444

CAPITAL AND RESERVES
Called up share capital 7 20
Retained earnings 2,424
SHAREHOLDERS' FUNDS 2,444

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 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.

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 2 August 2024 and were signed on its behalf by:





W Arnold - Director


HIPPO GUITARS LTD (REGISTERED NUMBER: 14752744)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 23 MARCH 2023 TO 31 MARCH 2024


1. STATUTORY INFORMATION

Hippo Guitars 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on 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 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

HIPPO GUITARS LTD (REGISTERED NUMBER: 14752744)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 23 MARCH 2023 TO 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
Additions 313 662 975
At 31 March 2024 313 662 975
DEPRECIATION
Charge for period 65 138 203
At 31 March 2024 65 138 203
NET BOOK VALUE
At 31 March 2024 248 524 772

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 862
Other debtors 6,574
7,436

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Taxation and social security 3,336
Other creditors 73,615
76,951

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
10 Ordinary A £1 10
10 Ordinary B £1 10
20

The following shares were allotted and fully paid for cash at par during the period:

10 Ordinary A shares of £1 each
10 Ordinary B shares of £1 each