2023-05-012024-04-302024-04-30false04348718HOPES GARAGE LIMITED2025-01-2945200falseiso4217:GBPxbrli:pure043487182023-05-01043487182024-04-30043487182023-05-012024-04-30043487182022-05-01043487182023-04-30043487182022-05-012023-04-3004348718bus:SmallEntities2023-05-012024-04-3004348718bus:AuditExempt-NoAccountantsReport2023-05-012024-04-3004348718bus:FullAccounts2023-05-012024-04-3004348718bus:PrivateLimitedCompanyLtd2023-05-012024-04-3004348718core:WithinOneYear2024-04-3004348718core:AfterOneYear2024-04-3004348718core:WithinOneYear2023-04-3004348718core:AfterOneYear2023-04-3004348718core:ShareCapital2024-04-3004348718core:SharePremium2024-04-3004348718core:RevaluationReserve2024-04-3004348718core:OtherReservesSubtotal2024-04-3004348718core:RetainedEarningsAccumulatedLosses2024-04-3004348718core:ShareCapital2023-04-3004348718core:SharePremium2023-04-3004348718core:RevaluationReserve2023-04-3004348718core:OtherReservesSubtotal2023-04-3004348718core:RetainedEarningsAccumulatedLosses2023-04-3004348718core:LandBuildings2024-04-3004348718core:PlantMachinery2024-04-3004348718core:Vehicles2024-04-3004348718core:FurnitureFittings2024-04-3004348718core:OfficeEquipment2024-04-3004348718core:NetGoodwill2024-04-3004348718core:IntangibleAssetsOtherThanGoodwill2024-04-3004348718core:ListedExchangeTraded2024-04-3004348718core:UnlistedNon-exchangeTraded2024-04-3004348718core:LandBuildings2023-04-3004348718core:PlantMachinery2023-04-3004348718core:Vehicles2023-04-3004348718core:FurnitureFittings2023-04-3004348718core:OfficeEquipment2023-04-3004348718core:NetGoodwill2023-04-3004348718core:IntangibleAssetsOtherThanGoodwill2023-04-3004348718core:ListedExchangeTraded2023-04-3004348718core:UnlistedNon-exchangeTraded2023-04-3004348718core:LandBuildings2023-05-012024-04-3004348718core:PlantMachinery2023-05-012024-04-3004348718core:Vehicles2023-05-012024-04-3004348718core:FurnitureFittings2023-05-012024-04-3004348718core:OfficeEquipment2023-05-012024-04-3004348718core:NetGoodwill2023-05-012024-04-3004348718core:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3004348718core:ListedExchangeTraded2023-05-012024-04-3004348718core:UnlistedNon-exchangeTraded2023-05-012024-04-3004348718core:MoreThanFiveYears2023-05-012024-04-3004348718core:Non-currentFinancialInstruments2024-04-3004348718core:Non-currentFinancialInstruments2023-04-3004348718dpl:CostSales2023-05-012024-04-3004348718dpl:DistributionCosts2023-05-012024-04-3004348718core:LandBuildings2023-05-012024-04-3004348718core:PlantMachinery2023-05-012024-04-3004348718core:Vehicles2023-05-012024-04-3004348718core:FurnitureFittings2023-05-012024-04-3004348718core:OfficeEquipment2023-05-012024-04-3004348718dpl:AdministrativeExpenses2023-05-012024-04-3004348718core:NetGoodwill2023-05-012024-04-3004348718core:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3004348718dpl:GroupUndertakings2023-05-012024-04-3004348718dpl:ParticipatingInterests2023-05-012024-04-3004348718dpl:GroupUndertakingscore:ListedExchangeTraded2023-05-012024-04-3004348718core:ListedExchangeTraded2023-05-012024-04-3004348718dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-05-012024-04-3004348718core:UnlistedNon-exchangeTraded2023-05-012024-04-3004348718dpl:CostSales2022-05-012023-04-3004348718dpl:DistributionCosts2022-05-012023-04-3004348718core:LandBuildings2022-05-012023-04-3004348718core:PlantMachinery2022-05-012023-04-3004348718core:Vehicles2022-05-012023-04-3004348718core:FurnitureFittings2022-05-012023-04-3004348718core:OfficeEquipment2022-05-012023-04-3004348718dpl:AdministrativeExpenses2022-05-012023-04-3004348718core:NetGoodwill2022-05-012023-04-3004348718core:IntangibleAssetsOtherThanGoodwill2022-05-012023-04-3004348718dpl:GroupUndertakings2022-05-012023-04-3004348718dpl:ParticipatingInterests2022-05-012023-04-3004348718dpl:GroupUndertakingscore:ListedExchangeTraded2022-05-012023-04-3004348718core:ListedExchangeTraded2022-05-012023-04-3004348718dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-05-012023-04-3004348718core:UnlistedNon-exchangeTraded2022-05-012023-04-3004348718core:NetGoodwill2024-04-3004348718core:IntangibleAssetsOtherThanGoodwill2024-04-3004348718core:LandBuildings2024-04-3004348718core:PlantMachinery2024-04-3004348718core:Vehicles2024-04-3004348718core:FurnitureFittings2024-04-3004348718core:OfficeEquipment2024-04-3004348718core:AfterOneYear2024-04-3004348718core:WithinOneYear2024-04-3004348718core:ListedExchangeTraded2024-04-3004348718core:UnlistedNon-exchangeTraded2024-04-3004348718core:ShareCapital2024-04-3004348718core:SharePremium2024-04-3004348718core:RevaluationReserve2024-04-3004348718core:OtherReservesSubtotal2024-04-3004348718core:RetainedEarningsAccumulatedLosses2024-04-3004348718core:NetGoodwill2023-04-3004348718core:IntangibleAssetsOtherThanGoodwill2023-04-3004348718core:LandBuildings2023-04-3004348718core:PlantMachinery2023-04-3004348718core:Vehicles2023-04-3004348718core:FurnitureFittings2023-04-3004348718core:OfficeEquipment2023-04-3004348718core:AfterOneYear2023-04-3004348718core:WithinOneYear2023-04-3004348718core:ListedExchangeTraded2023-04-3004348718core:UnlistedNon-exchangeTraded2023-04-3004348718core:ShareCapital2023-04-3004348718core:SharePremium2023-04-3004348718core:RevaluationReserve2023-04-3004348718core:OtherReservesSubtotal2023-04-3004348718core:RetainedEarningsAccumulatedLosses2023-04-3004348718core:NetGoodwill2022-05-0104348718core:IntangibleAssetsOtherThanGoodwill2022-05-0104348718core:LandBuildings2022-05-0104348718core:PlantMachinery2022-05-0104348718core:Vehicles2022-05-0104348718core:FurnitureFittings2022-05-0104348718core:OfficeEquipment2022-05-0104348718core:AfterOneYear2022-05-0104348718core:WithinOneYear2022-05-0104348718core:ListedExchangeTraded2022-05-0104348718core:UnlistedNon-exchangeTraded2022-05-0104348718core:ShareCapital2022-05-0104348718core:SharePremium2022-05-0104348718core:RevaluationReserve2022-05-0104348718core:OtherReservesSubtotal2022-05-0104348718core:RetainedEarningsAccumulatedLosses2022-05-0104348718core:AfterOneYear2023-05-012024-04-3004348718core:WithinOneYear2023-05-012024-04-3004348718core:Non-currentFinancialInstrumentscore:CostValuation2023-05-012024-04-3004348718core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-05-012024-04-3004348718core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-05-012024-04-3004348718core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-05-012024-04-3004348718core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-05-012024-04-3004348718core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-05-012024-04-3004348718core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-05-012024-04-3004348718core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-05-012024-04-3004348718core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-05-012024-04-3004348718core:Non-currentFinancialInstrumentscore:CostValuation2024-04-3004348718core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-04-3004348718core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-04-3004348718core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-04-3004348718core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-04-3004348718core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-04-3004348718core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-04-3004348718core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-04-3004348718core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-04-3004348718core:Non-currentFinancialInstrumentscore:CostValuation2023-04-3004348718core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-04-3004348718core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-04-3004348718core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-04-3004348718core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-04-3004348718core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-04-3004348718core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-04-3004348718core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-04-3004348718core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-04-3004348718bus:Director12023-05-012024-04-30

HOPES GARAGE LIMITED

Registered Number
04348718
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

HOPES GARAGE LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

Mr A Hunter

Company Secretary

Mrs C Coleman

Registered Address

Hunters Lodge
Meadow Court
Langwathby
CA10 1ND

Registered Number

04348718 (England and Wales)
HOPES GARAGE LIMITED
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets5179,378184,755
179,378184,755
Current assets
Stocks618,85015,000
Debtors792,88886,834
Cash at bank and on hand701,785637,010
813,523738,844
Creditors amounts falling due within one year8(252,593)(214,333)
Net current assets (liabilities)560,930524,511
Total assets less current liabilities740,308709,266
Provisions for liabilities9(2,033)(1,869)
Net assets738,275707,397
Capital and reserves
Called up share capital11
Profit and loss account738,274707,396
Shareholders' funds738,275707,397
The financial statements were approved and authorised for issue by the Director on 29 January 2025, and are signed on its behalf by:
Mr A Hunter
Director
Registered Company No. 04348718
HOPES GARAGE LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Employee benefits
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Defined contribution pension plan
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery15-
Fixtures and fittings25-
Office Equipment-3
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year44
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 May 2354,54354,543
At 30 April 2454,54354,543
Amortisation and impairment
At 01 May 2354,54354,543
At 30 April 2454,54354,543
Net book value
At 30 April 24--
At 30 April 23--
4.Useful life of intangible assets
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of goodwill has been set at 20 years and the asset will be amortised on a straight line basis over that period.
5.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 May 23190,08372,97810,0314,141277,233
At 30 April 24190,08372,97810,0314,141277,233
Depreciation and impairment
At 01 May 2315,03464,4758,8284,14192,478
Charge for year3,8011,275301-5,377
At 30 April 2418,83565,7509,1294,14197,855
Net book value
At 30 April 24171,2487,228902-179,378
At 30 April 23175,0498,5031,203-184,755
6.Stocks

2024

2023

££
Raw materials and consumables18,85015,000
Total18,85015,000
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables77,35382,431
Prepayments and accrued income15,5354,403
Total92,88886,834
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-9,971
Taxation and social security55,19542,231
Other creditors193,998158,941
Accrued liabilities and deferred income3,4003,190
Total252,593214,333
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2,0331,869
Total2,0331,869
10.Related party transactions
During the year the company continued to borrow funds interest free from Mr A Hunter, the director. At the balance sheet date the company owed £192,564 (2023 - £156,739) to Mr A Hunter.