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REGISTERED NUMBER: 07639053 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Hackpen Hill Associates Limited

Hackpen Hill Associates Limited (Registered number: 07639053)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hackpen Hill Associates Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: J A Lennox
Mrs J S Lennox





REGISTERED OFFICE: Lennox House
3 Pierrepont Street
Bath
BA1 1LB





REGISTERED NUMBER: 07639053 (England and Wales)

Hackpen Hill Associates Limited (Registered number: 07639053)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,692 7,473
Investments 6 129,746 115,637
136,438 123,110

CURRENT ASSETS
Debtors 7 262,258 190,745
Cash at bank and in hand 778,644 521,487
1,040,902 712,232
CREDITORS
Amounts falling due within one year 8 361,452 202,149
NET CURRENT ASSETS 679,450 510,083
TOTAL ASSETS LESS CURRENT
LIABILITIES

815,888

633,193

PROVISIONS FOR LIABILITIES 3,830 1,868
NET ASSETS 812,058 631,325

CAPITAL AND RESERVES
Called up share capital 34 34
Capital redemption reserve 68 68
Retained earnings 811,956 631,223
SHAREHOLDERS' FUNDS 812,058 631,325

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 14 November 2024 and were signed on its behalf by:





J A Lennox - Director


Hackpen Hill Associates Limited (Registered number: 07639053)

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

1. STATUTORY INFORMATION

Hackpen Hill Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements are prepared on a going concern basis, under the historical cost convention.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The Company has adopted Section 1A of FRS 102 in these financial statements.

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of value added taxes and discounts and rebates allowed by the Company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 33% on straight line basis
Computer equipment - 25% on straight line basis

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively.

Hackpen Hill Associates Limited (Registered number: 07639053)

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

3. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


Hackpen Hill Associates Limited (Registered number: 07639053)

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

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax recognised in the reporting period. 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. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current and deferred taxation assets and liabilities are not discounted.

Current tax

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax arises from timing differences that are differences between taxable profit and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessment in periods different from those in which they are recognised in financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the balance sheet date and that are expected to apply to the reversal of the timing difference.

Employee benefits
The company provides a range of benefits to employees, including paid holiday arrangements and defined contribution pension plans.

Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Defined contribution pension plans

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The obligations are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 8 ) .

Hackpen Hill Associates Limited (Registered number: 07639053)

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

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 935 36,845 15,472 53,252
Additions - - 2,419 2,419
Disposals - (36,845 ) - (36,845 )
At 31 May 2024 935 - 17,891 18,826
DEPRECIATION
At 1 June 2023 935 36,477 8,367 45,779
Charge for year - - 2,832 2,832
Eliminated on disposal - (36,477 ) - (36,477 )
At 31 May 2024 935 - 11,199 12,134
NET BOOK VALUE
At 31 May 2024 - - 6,692 6,692
At 31 May 2023 - 368 7,105 7,473

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 June 2023 115,637
Additions 2,340
Disposals (1,593 )
Revaluations 13,362
At 31 May 2024 129,746
NET BOOK VALUE
At 31 May 2024 129,746
At 31 May 2023 115,637

Cost or valuation at 31 May 2024 is represented by:

Other
investments
£   
Valuation in 2022 114,739
Valuation in 2023 898
Valuation in 2024 14,109
129,746

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 125,336 31,640
Other debtors 104 -
Directors' current accounts - 17,603
Prepayments and accrued income 136,818 141,502
262,258 190,745

Hackpen Hill Associates Limited (Registered number: 07639053)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 17,231 8,769
Tax 149,122 101,917
Social security and other taxes 78,527 67,346
Other creditors 7,740 5,611
Directors' current accounts 99,817 -
Accruals and deferred income 9,015 18,506
361,452 202,149

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
J A Lennox
Balance outstanding at start of year 17,603 -
Amounts advanced - 17,603
Amounts repaid (17,603 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 17,603

Interest is charged on overdrawn balances in excess of £10,000 at the HM Revenue & Customs' official beneficial loan interest rate.