Registered number
08305628
Hopwood VAT Limited
Filleted Accounts
28 February 2024
Hopwood VAT Limited
Registered number: 08305628
Balance Sheet
as at 28 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,078 6,733
Investments 4 46,778 12,938
53,856 19,671
Current assets
Debtors 5 7,734 18,067
Cash at bank and in hand 4,723 965
12,457 19,032
Creditors: amounts falling due within one year 6 (47,896) (26,406)
Net current liabilties (35,439) (7,374)
Net assets 18,417 12,297
Capital and reserves
Called up share capital 100 100
Profit and loss account 18,317 12,197
Shareholders' funds 18,417 12,297
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Fife
Director
Approved by the board on 29 November 2024
Hopwood VAT Limited
Notes to the Accounts
for the year ended 28 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% straight line
Office furniture 25% straight line
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Computer equipment Office furniture Total
£ £ £
Cost
At 1 March 2023 16,821 9,963 26,784
Additions - 2,704 2,704
At 28 February 2024 16,821 12,667 29,488
Depreciation
At 1 March 2023 12,481 7,570 20,051
Charge for the year 1,085 1,274 2,359
At 28 February 2024 13,566 8,844 22,410
Net book value
At 28 February 2024 3,255 3,823 7,078
At 28 February 2023 4,340 2,393 6,733
4 Investments
Other
investments
£
Cost
At 1 March 2023 12,938
Additions 33,840
At 28 February 2024 46,778
5 Debtors 2024 2023
£ £
Trade debtors 7,734 18,067
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13,172 -
Corporation tax 19,905 10,589
Other taxes and social security costs 5,362 5,761
Other creditors 9,457 10,056
47,896 26,406
7 Other information
Hopwood VAT Limited is a private company limited by shares and incorporated in England. Its registered office is:
40 Nunwick Way
Newcastle upon Tyne
NE7 7GB
6 Ultimate controlling party
The company is under the control of the director
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