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REGISTERED NUMBER: 08561732 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Hovingham Stores Ltd

Hovingham Stores Ltd (Registered number: 08561732)






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


Hovingham Stores Ltd

Company Information
for the Year Ended 30 June 2024







Directors: M J Blades
Mrs R Blades





Registered office: 2 Belgrave Crescent
Scarborough
North Yorkshire
YO11 1UB





Registered number: 08561732 (England and Wales)





Accountants: Ashby Berry Coulsons Ltd
2 Belgrave Crescent
Scarborough
North Yorkshire
YO11 1UB

Hovingham Stores Ltd (Registered number: 08561732)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 388,736 129,493
388,736 129,493

Current assets
Stocks 32,150 28,726
Debtors 6 74,008 55,440
Cash at bank and in hand 93,281 211,620
199,439 295,786
Creditors
Amounts falling due within one year 7 54,898 64,238
Net current assets 144,541 231,548
Total assets less current liabilities 533,277 361,041

Creditors
Amounts falling due after more than one
year

8

(356,532

)

(156,719

)

Provisions for liabilities (10,776 ) (10,776 )
Net assets 165,969 193,546

Capital and reserves
Called up share capital 9 100 100
Retained earnings 165,869 193,446
Shareholders' funds 165,969 193,546

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 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.

Hovingham Stores Ltd (Registered number: 08561732)

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 Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:





Mrs R Blades - Director


Hovingham Stores Ltd (Registered number: 08561732)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. Statutory information

Hovingham Stores Ltd is a private company, limited by shares , registered in England and Wales. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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.


Hovingham Stores Ltd (Registered number: 08561732)

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

2. Accounting policies - continued
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.

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.

3. Employees and directors

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

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 July 2023
and 30 June 2024 45,000
Amortisation
At 1 July 2023
and 30 June 2024 45,000
Net book value
At 30 June 2024 -
At 30 June 2023 -

Hovingham Stores Ltd (Registered number: 08561732)

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

5. Tangible fixed assets
Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
Cost
At 1 July 2023 70,500 22,707 68,197
Additions 244,217 - -
Disposals - - -
At 30 June 2024 314,717 22,707 68,197
Depreciation
At 1 July 2023 - 20,430 36,040
Charge for year - 2,277 4,825
Eliminated on disposal - - -
At 30 June 2024 - 22,707 40,865
Net book value
At 30 June 2024 314,717 - 27,332
At 30 June 2023 70,500 2,277 32,157

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 July 2023 32,745 1,607 195,756
Additions 62,250 - 306,467
Disposals (32,745 ) - (32,745 )
At 30 June 2024 62,250 1,607 469,478
Depreciation
At 1 July 2023 8,186 1,607 66,263
Charge for year 15,563 - 22,665
Eliminated on disposal (8,186 ) - (8,186 )
At 30 June 2024 15,563 1,607 80,742
Net book value
At 30 June 2024 46,687 - 388,736
At 30 June 2023 24,559 - 129,493

Hovingham Stores Ltd (Registered number: 08561732)

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

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 74,008 55,440

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 37,590 34,769
Hire purchase contracts 6,720 -
Trade creditors 4,740 2,969
Taxation and social security 3,913 24,660
Other creditors 1,935 1,840
54,898 64,238

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 105,718 154,177
Hire purchase contracts 33,500 -
Other creditors 217,314 2,542
356,532 156,719

Amounts falling due in more than five years:

Repayable otherwise than by instalments
P Farrow Ltd Loan Account 212,911 -

Repayable by instalments
Bank loans more 5 yr by instal 81,340 89,493

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100