REGISTERED NUMBER: |
Financial Statements |
for the Period |
1st October 2023 to 30th June 2024 |
for |
P J Hope Limited |
Trading as |
Rogers of Brock |
REGISTERED NUMBER: |
Financial Statements |
for the Period |
1st October 2023 to 30th June 2024 |
for |
P J Hope Limited |
Trading as |
Rogers of Brock |
P J Hope Limited (Registered number: 03476011) |
Trading as Rogers of Brock |
Contents of the Financial Statements |
for the Period 1st October 2023 to 30th June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
P J Hope Limited |
Trading as Rogers of Brock |
Company Information |
for the Period 1st October 2023 to 30th June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
River View |
96 High Street |
Garstang |
Preston |
Lancashire |
PR3 1WZ |
P J Hope Limited (Registered number: 03476011) |
Trading as Rogers of Brock |
Balance Sheet |
30th June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
P J Hope Limited (Registered number: 03476011) |
Trading as Rogers of Brock |
Balance Sheet - continued |
30th June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
P J Hope Limited (Registered number: 03476011) |
Trading as Rogers of Brock |
Notes to the Financial Statements |
for the Period 1st October 2023 to 30th June 2024 |
1. | STATUTORY INFORMATION |
P J Hope Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable from the sale of cars, net of discounts and value added tax. |
Tangible fixed assets |
Freehold property | - |
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. |
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective June 2002), it is a departure from the general requirement of the Companies Act 1985 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of which might otherwise have been charged cannot be separately identified or quantified. |
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 period 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 period 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
P J Hope Limited (Registered number: 03476011) |
Trading as Rogers of Brock |
Notes to the Financial Statements - continued |
for the Period 1st October 2023 to 30th June 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST OR VALUATION |
At 1st October 2023 |
and 30th June 2024 |
DEPRECIATION |
At 1st October 2023 |
Charge for period |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th September 2023 |
Cost or valuation at 30th June 2024 is represented by: |
Freehold |
property |
£ |
Valuation in 2004 | 414,983 |
Valuation in 2010 | 509,476 |
Valuation in 2013 | (102,418 | ) |
Valuation in 2019 | (19,602 | ) |
Cost | 659,788 |
1,462,227 |
If freehold property had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 659,788 | 640,133 |
Aggregate depreciation | 145,408 | 138,626 |
Value of land in freehold land and buildings | 207,691 | 207,691 |
Freehold property were valued on an open market basis on 4th February 2019 by Parkinson Real Estate . |
The directors still believe this to be a fair valuation of the property. |
P J Hope Limited (Registered number: 03476011) |
Trading as Rogers of Brock |
Notes to the Financial Statements - continued |
for the Period 1st October 2023 to 30th June 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
Included in Other Debtors is £170,000 that has been loaned to Ribble Valley Property Management Services Ltd, a company for which Mrs S Turnbull has an appointment as director. Mrs Turnbull is also appointed as director for P J Hope Ltd. The loan will be repaid in full before 9 months after the company's financial year end. Interest has been charged on the balance at 2.5%. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | - | 24,816 |
Other creditors |
Directors' current accounts | 10,677 | 7,952 |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank overdraft |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1st October 2023 |
and 30th June 2024 |
10. | RELATED PARTY DISCLOSURES |
During the period, total dividends of £12,300 were paid to the directors . |
At the year end, the company owed £10,677 to the directors (2023: £7,952). No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year. |