Company Registration No. 02691088 (England and Wales)
HOPE HOUSE (TRADING) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
HOPE HOUSE (TRADING) LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
HOPE HOUSE (TRADING) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
2,373
2,373
Creditors: amounts falling due within one year
3
(804)
(804)
Net current assets
1,569
1,569
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
1,567
1,567
Total equity
1,569
1,569
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 September 2024 and are signed on its behalf by:
Andrew T Goldsmith
Director
Company registration number 02691088 (England and Wales)
HOPE HOUSE (TRADING) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2022
2
1,567
1,569
Year ended 31 December 2022:
Profit and total comprehensive income
-
44,084
44,084
Gift Aid of profits to parent charity
-
(44,084)
(44,084)
Balance at 31 December 2022
2
1,567
1,569
Year ended 31 December 2023:
Profit and total comprehensive income
-
33,249
33,249
Gift Aid of profits to parent charity
-
(33,249)
(33,249)
Balance at 31 December 2023
2
1,567
1,569
HOPE HOUSE (TRADING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Hope House (Trading) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Nant Lane, Morda, Oswestry, Shropshire, SY10 9BX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Hope House Children's Hospices. These consolidated financial statements are available from its registered office, Nant Lane, Morda, Oswestry, SY10 9BX .
1.2
Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of value added tax.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
HOPE HOUSE (TRADING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons employed by the company during the year was:
2023
2022
Number
Number
Total
3
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
804
804
HOPE HOUSE (TRADING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Helen Furlong FCCA.
The auditor was Xeinadin Audit Limited.
5
Related party transactions
The company distributes all of its profits to its parent undertaking, Hope House Children's Hospices under Gift Aid. The distribution for 2023 was £33,249 (2022: £44,084). During the year Hope House (Trading) Limited charged £4,255 (2022: £4,129) to Hope House Children's Hospices in administration fees for the provision of the merchandise sales. At the balance sheet date the company owed Hope House Children's Hospices £804 (2022: £804). Interest is not charged on the balance outstanding.
During the year some of the directors of Hope House (Trading) Limited and its associated group companies, as well as members of staff, donated goods to and bought goods from the charity shops of Hope House (Trading) Limited. These were all conducted on a normal arm's length basis.
6
Parent company
The ultimate parent company of Hope House (Trading) Limited is Hope House Children's Hospices, a registered charity and company, incorporated in England and Wales. The registered address of Hope House Children's Hospices is Nant Lane, Morda, Oswestry, Shropshire, SY10 9BX.
The ultimate controlling parties of Hope House Children's Hospices are the trustees.