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REGISTERED NUMBER: SC628558 (Scotland)















Hopeman Stores Ltd

Financial Statements For The Year Ended 30 June 2024






Hopeman Stores Ltd (Registered number: SC628558)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hopeman Stores Ltd

Company Information
For The Year Ended 30 June 2024







DIRECTOR: Mr J Gardiner



REGISTERED OFFICE: 51 Harbour Street
Hopeman
Elgin
Moray
IV30 5RU



REGISTERED NUMBER: SC628558 (Scotland)



ACCOUNTANTS: The Long Partnership
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Virgin Money
Elgin Branch
151 High Street
Elgin
Moray
IV30 1DU

Hopeman Stores Ltd (Registered number: SC628558)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,165 3,673

CURRENT ASSETS
Stocks 39,792 34,490
Debtors 5 3,644 21,907
Cash at bank and in hand 25,347 22,660
68,783 79,057
CREDITORS
Amounts falling due within one year 6 36,517 47,675
NET CURRENT ASSETS 32,266 31,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,431

35,055

CREDITORS
Amounts falling due after more than one
year

7

28,922

34,804
NET ASSETS 6,509 251

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 6,409 151
SHAREHOLDERS' FUNDS 6,509 251

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Hopeman Stores Ltd (Registered number: SC628558)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 December 2024 and were signed by:





Mr J Gardiner - Director


Hopeman Stores Ltd (Registered number: SC628558)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

Hopeman Stores Ltd is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 33% on cost and 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

Hopeman Stores Ltd (Registered number: SC628558)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 July 2023 11,100
Additions 532
At 30 June 2024 11,632
DEPRECIATION
At 1 July 2023 7,427
Charge for year 1,040
At 30 June 2024 8,467
NET BOOK VALUE
At 30 June 2024 3,165
At 30 June 2023 3,673

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 3,644 21,907

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 5,882 5,882
Trade creditors 21,502 33,977
Taxation and social security 7,437 4,925
Other creditors 1,696 2,891
36,517 47,675

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 28,922 34,804

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
50 A Ordinary 1 50 50
50 B Ordinary 1 50 50
100 100

Hopeman Stores Ltd (Registered number: SC628558)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

9. RESERVES
Retained
earnings
£   

At 1 July 2023 151
Profit for the year 18,758
Dividends (12,500 )
At 30 June 2024 6,409

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £12,500 (2023 - £10,300) were paid to the director .

As at 30 June 2023 the director owed the company £9,555. During the year the director met expenditure amounting to £9,985 on behalf of the company. As at 30 June 2024 the company owed the director £430. This loan is interest free and has no fixed terms of repayment.