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Company Registration number: 10747012

P Hopper Properties Ltd

Annual Report and Unaudited
Financial Statements


for the Year Ended 30 April 2024

 

P Hopper Properties Ltd

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 7

 

P Hopper Properties Ltd

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

962,489

901,300

Current assets

 

Debtors

5

100,737

35,000

Cash at bank and in hand

 

656

1,170

 

101,393

36,170

Creditors: Amounts falling due within one year

6

(322,444)

(195,755)

Net current liabilities

 

(221,051)

(159,585)

Total assets less current liabilities

 

741,438

741,715

Creditors: Amounts falling due after more than one year

6

(416,524)

(423,917)

Provisions for liabilities

(63,598)

(60,362)

Net assets

 

261,316

257,436

Capital and reserves

 

Called up share capital

100

100

Retained earnings

261,216

257,336

Shareholders' funds

 

261,316

257,436

 

P Hopper Properties Ltd

Balance Sheet as at 30 April 2024 (continued)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 10747012

Approved and authorised by the director on 16 December 2024
 

.........................................
Mr P Hopper
Director

 

P Hopper Properties Ltd

Notes to the financial statements for the Year Ended 30 April 2024

1

GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
17 Peterfield Road
Kingstown Industrial Estate
Carlisle
CA3 0EY

These financial statements were authorised for issue by the director on 16 December 2024.

2

ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

 

P Hopper Properties Ltd

Notes to the financial statements for the Year Ended 30 April 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
 

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are 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 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.

Depreciation

Asset class

Depreciation method and rate

Investment property

No charge

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

P Hopper Properties Ltd

Notes to the financial statements for the Year Ended 30 April 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

P Hopper Properties Ltd

Notes to the financial statements for the Year Ended 30 April 2024 (continued)

4

INVESTMENT PROPERTIES

2024
£

At 1 May

901,300

Additions

51,275

Revaluations

9,914

At 30 April

962,489


The investment properties were revalued on 30 April 2024 by the director. The carrying amount of the investment properties is £962,489. The director considers this to be the fair value of the properties.

5

DEBTORS

2024
£

2023
£

Other debtors

95,000

35,000

Prepayments

5,737

-

100,737

35,000

6

CREDITORS

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,407

12,437

Trade creditors

 

5,394

3,151

Accruals and deferred income

 

2,001

2,000

Other creditors

 

304,642

178,167

 

322,444

195,755

Creditors due within one year include bank loans and overdrafts which are secured of £4,417 (2023 - £3,637).

 

P Hopper Properties Ltd

Notes to the financial statements for the Year Ended 30 April 2024 (continued)

6

CREDITORS (continued)

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

 

Loans and borrowings

92,338

82,330

2024
£

2023
£

Due after more than five years

After more than five years by instalments

324,187

341,587

-

-

Creditors due after one year include bank loans and overdrafts which are secured of £386,289 (2023 - £390,537).