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REGISTERED NUMBER: 02054757 (England and Wales)














Financial Statements

for the Year Ended 31 March 2024

for

Popes (Hightown) Limited

Popes (Hightown) Limited (Registered number: 02054757)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Popes (Hightown) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: K A Pope
C P Pope
M A Pope
J C Pope



SECRETARY: C P Pope



REGISTERED OFFICE: Oriel House
2-8 Oriel Road
Bootle
Merseyside
L20 7EP



REGISTERED NUMBER: 02054757 (England and Wales)



ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP



BANKERS: HSBC Bank plc
4 Dale Street
PO Box 104
Liverpool
Merseyside
L69 2BZ

Popes (Hightown) Limited (Registered number: 02054757)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 348,308 455,512

CURRENT ASSETS
Stocks 34,152 23,000
Debtors 5 178,406 142,425
Cash at bank 80,630 158,441
293,188 323,866
CREDITORS
Amounts falling due within one year 6 208,921 192,227
NET CURRENT ASSETS 84,267 131,639
TOTAL ASSETS LESS CURRENT LIABILITIES 432,575 587,151

CREDITORS
Amounts falling due after more than one year 7 (45,493 ) (122,108 )

PROVISIONS FOR LIABILITIES (78,327 ) (102,972 )
NET ASSETS 308,755 362,071

CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Retained earnings 258,755 312,071
SHAREHOLDERS' FUNDS 308,755 362,071

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

The members have not required the company to obtain an audit of its financial statements for the year 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.

Popes (Hightown) Limited (Registered number: 02054757)

Balance Sheet - continued
31 March 2024


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 11 September 2024 and were signed on its behalf by:




K A Pope - Director



C P Pope - Director


Popes (Hightown) Limited (Registered number: 02054757)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Popes (Hightown) Limited 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" 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 represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. It is measured at a fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Tangible fixed assets
Fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on tangible fixed assets at rates calculated to write off the cost less estimated residual value of each asset on a systematic basis over its expected useful life as follows:

Property improvements2% straight line
Plant and machinery25% reducing balance
Fixtures and fittings15% reducing balance
Motor vehicles25% reducing balance


Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year 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.


Popes (Hightown) Limited (Registered number: 02054757)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

Popes (Hightown) Limited (Registered number: 02054757)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 60,749 1,395,927 35,948 135,869 1,628,493
Additions - 14,065 503 - 14,568
Disposals (7,470 ) (72,068 ) - - (79,538 )
At 31 March 2024 53,279 1,337,924 36,451 135,869 1,563,523
DEPRECIATION
At 1 April 2023 23,904 1,035,238 28,485 85,354 1,172,981
Charge for year 1,068 90,571 1,210 12,628 105,477
Eliminated on disposal (323 ) (62,920 ) - - (63,243 )
At 31 March 2024 24,649 1,062,889 29,695 97,982 1,215,215
NET BOOK VALUE
At 31 March 2024 28,630 275,035 6,756 37,887 348,308
At 31 March 2023 36,845 360,689 7,463 50,515 455,512

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 272,112 28,750 300,862
Additions 378 - 378
Reclassification/transfer 4,341 - 4,341
At 31 March 2024 276,831 28,750 305,581
DEPRECIATION
At 1 April 2023 111,578 11,680 123,258
Charge for year 41,340 4,267 45,607
At 31 March 2024 152,918 15,947 168,865
NET BOOK VALUE
At 31 March 2024 123,913 12,803 136,716
At 31 March 2023 160,534 17,070 177,604

Popes (Hightown) Limited (Registered number: 02054757)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 173,451 113,799
Other debtors - 32
Directors' current accounts 1,500 1,536
Tax 657 1,934
VAT - 21,751
Prepayments 2,798 3,373
178,406 142,425

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 40,315 14,813
Hire purchase contracts 32,309 60,755
Trade creditors 62,675 72,892
Tax 8,312 553
Social security and other taxes 10,718 8,761
VAT 22,698 -
Other creditors 1,272 895
Directors' current accounts 11,897 20,246
Accrued expenses 18,725 13,312
208,921 192,227

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 15,000 14,989
Bank loans - 2-5 years 2,500 17,697
Hire purchase contracts 27,993 89,422
45,493 122,108

Popes (Hightown) Limited (Registered number: 02054757)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdraft 25,315 -
Bank loans 32,500 47,499
Hire purchase contracts 60,302 150,177
118,117 197,676

The bank overdraft is secured by a debentures on the assets of the company dated 17 November 2004 and 11 July 2011.

Hire purchase liabilities are secured against the assets to which they relate.

The Coronavirus Business Interruption Loan is secured by HM Government.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
17,500 A Ordinary £1 17,500 17,500
17,500 B Ordinary £1 17,500 17,500
7,500 C Ordinary £1 7,500 7,500
7,500 D Ordinary £1 7,500 7,500
50,000 50,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
C P Pope
Balance outstanding at start of year 1,536 2,312
Amounts repaid (37 ) (776 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,499 1,536