IRIS Accounts Production v24.3.0.553 09259913 Board of Directors Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh092599132023-04-30092599132024-04-30092599132023-05-012024-04-30092599132022-04-30092599132022-05-012023-04-30092599132023-04-3009259913ns15:EnglandWales2023-05-012024-04-3009259913ns14:PoundSterling2023-05-012024-04-3009259913ns10:Director12023-05-012024-04-3009259913ns10:Director22023-05-012024-04-3009259913ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3009259913ns10:SmallEntities2023-05-012024-04-3009259913ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3009259913ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3009259913ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3009259913ns10:AbridgedAccounts2023-05-012024-04-300925991312023-05-012024-04-3009259913ns10:RegisteredOffice2023-05-012024-04-3009259913ns5:CurrentFinancialInstruments2024-04-3009259913ns5:CurrentFinancialInstruments2023-04-3009259913ns5:ShareCapital2024-04-3009259913ns5:ShareCapital2023-04-3009259913ns5:RetainedEarningsAccumulatedLosses2024-04-3009259913ns5:RetainedEarningsAccumulatedLosses2023-04-3009259913ns5:NetGoodwill2023-05-012024-04-3009259913ns5:LandBuildingsns5:ShortLeaseholdAssets2023-05-012024-04-3009259913ns5:FurnitureFittings2023-05-012024-04-3009259913ns5:ComputerEquipment2023-05-012024-04-3009259913ns5:Secured2024-04-3009259913ns5:Secured2023-04-30
REGISTERED NUMBER: 09259913 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

King Hope Ltd

King Hope Ltd (Registered number: 09259913)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


King Hope Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs S H Anderson
S W Gardner





REGISTERED OFFICE: 31 Victoria Road
Darlington
DL1 5SB





REGISTERED NUMBER: 09259913 (England and Wales)





ACCOUNTANTS: King Hope
Chartered Accountants
34 Romanby Road
NORTHALLERTON
North Yorkshire
DL7 8NF

King Hope Ltd (Registered number: 09259913)

Abridged Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 60,000 180,000
Tangible assets 5 46,333 15,794
106,333 195,794

CURRENT ASSETS
Stocks 3,285 3,425
Debtors 536,387 400,072
Cash in hand 4,396 4,916
544,068 408,413
CREDITORS
Amounts falling due within one year (400,460 ) (339,985 )
NET CURRENT ASSETS 143,608 68,428
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,941

264,222

PROVISIONS FOR LIABILITIES (9,092 ) (3,949 )
NET ASSETS 240,849 260,273

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 240,549 259,973
240,849 260,273

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

King Hope Ltd (Registered number: 09259913)

Abridged Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2024 and were signed on its behalf by:




Mrs S H Anderson - Director



S W Gardner - Director


King Hope Ltd (Registered number: 09259913)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

King Hope 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" 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
The turnover represent amounts invoiced during the year exclusive of VAT and an estimate in respect of ongoing services not yet invoiced.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 4% on cost
Office Equip.,Fixtures & fittings - 20% 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 year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

King Hope Ltd (Registered number: 09259913)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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

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

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.

Government grants
Government grants relate to income received in respect of Employer training & equipment grants. These are recognised in the period to which they relate or in the case of equipment released in accordance with the depreciation policy in place.

Going concern
The financial statements are prepared on a going concern basis.

The current economic conditions present increased risks for all businesses.In response to such conditions, the Directors have carefully considered these risks, including an assessment of uncertainty projecting for a period of twelve months from date of signing the financial statements and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the Directors consider that the company maintains an appropriate level of liquidity, sufficient to meet the demands of the business. as they fall due within the next twelve months. The Directors have therefore concluded that it is appropriate to prepare these financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 1,200,000
AMORTISATION
At 1 May 2023 1,020,000
Amortisation for year 120,000
At 30 April 2024 1,140,000
NET BOOK VALUE

At 30 April 2024 60,000
At 30 April 2023 180,000

King Hope Ltd (Registered number: 09259913)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 74,955
Additions 45,984
Disposals (5,614 )
At 30 April 2024 115,325
DEPRECIATION
At 1 May 2023 59,161
Charge for year 15,042
Eliminated on disposal (5,211 )
At 30 April 2024 68,992
NET BOOK VALUE
At 30 April 2024 46,333
At 30 April 2023 15,794

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 170,631 57,483

7. OTHER FINANCIAL COMMITMENTS

At the reporting date, the Company had outstanding commitments for future minimum lease payments under non-cancellable operating lease arrangements totalling £3,653 (2023 - £3,935).

The company contributes to the personal pension policy of certain employees. At the balance sheet date unpaid contributions of £nil (2023 - £nil) were due.

8. RELATED PARTY DISCLOSURES

At the balance sheet date the Company owed £89,217 (2023- £160,441) to the directors. The loan is interest free with no specific repayment terms.

The directors have provided personal guarantees in respect of the company bank overdraft facility limit of £200,000.