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Registered number: 06550663
Hopen Developments Ltd
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06550663
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 93,026 114,818
93,026 114,818
CURRENT ASSETS
Stocks 5 275,000 197,829
Debtors 6 3,074 1,059
Cash at bank and in hand 19,872 75,198
297,946 274,086
Creditors: Amounts Falling Due Within One Year 7 (157,690 ) (156,087 )
NET CURRENT ASSETS (LIABILITIES) 140,256 117,999
TOTAL ASSETS LESS CURRENT LIABILITIES 233,282 232,817
PROVISIONS FOR LIABILITIES
Deferred Taxation (18,381 ) (21,816 )
NET ASSETS 214,901 211,001
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 214,801 210,901
SHAREHOLDERS' FUNDS 214,901 211,001
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr H Griffiths
Director
3 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hopen Developments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06550663 . The registered office is 7 Faraday Court, First Avenue, Burton On Trent, Staffordshire, DE14 2WX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 15% on reducing balance
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 63,971 99,206 2,013 165,190
Additions 2,600 - - 2,600
As at 30 April 2024 66,571 99,206 2,013 167,790
Depreciation
As at 1 May 2023 18,895 30,542 935 50,372
Provided during the period 7,063 17,167 162 24,392
As at 30 April 2024 25,958 47,709 1,097 74,764
Net Book Value
As at 30 April 2024 40,613 51,497 916 93,026
As at 1 May 2023 45,076 68,664 1,078 114,818
5. Stocks
2024 2023
£ £
Work in progress 275,000 197,829
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,103 -
Prepayments and accrued income - 1,059
Other debtors 1,971 -
3,074 1,059
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 20,819 1
Other taxes and social security 1,570 18,973
Other creditors 1,216 -
Accruals and deferred income 1,860 1,861
Directors' loan accounts 132,225 135,252
157,690 156,087
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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9. Ultimate Controlling Party
The company was controlled by Mr H J and Mrs S J Griffiths by virtue of their ownership of 100% of the issued share capital in the company.
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