REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Hempleman Investment Company Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Hempleman Investment Company Limited |
Hempleman Investment Company Limited (Registered number: 03021779) |
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 |
Hempleman Investment Company Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 5 Corum 2 |
Corum Office Park |
Crown Way |
Warmley |
Bristol |
BS30 8FJ |
Hempleman Investment Company Limited (Registered number: 03021779) |
Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
Hempleman Investment Company Limited (Registered number: 03021779) |
Balance Sheet - continued |
30 June 2024 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Hempleman Investment Company Limited (Registered number: 03021779) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Hempleman Investment Company Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There have been no material departures from the Financial Reporting Standard 102 1A. |
Turnover |
Turnover represents amounts receivable for rents and service charges. |
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; |
- the entity retains neither continuing managerial involvement to the degree usually associated with ownership; |
- the costs incurred or to be incurred in respect of the transactions can be measured reliably; |
- all of the significant risks and rewards of ownership have been transferred to the customer; and |
- specific criteria have been met for each of the company's activities. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
Hempleman Investment Company Limited (Registered number: 03021779) |
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. |
Fixed asset investments |
Fixed asset investments are recognised in the financial statements at market value. |
Borrowings |
Interest-bearing borrowings are initially recorded at fair value, net of transactions 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Hempleman Investment Company Limited (Registered number: 03021779) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 July 2023 |
Impairments | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Revaluations | 53,700 |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
The fair value of the investment properties has been arrived at by a valuation by the directors at their open market value at 30 June 2024 based on similar properties. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Other debtors |
Hempleman Investment Company Limited (Registered number: 03021779) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Bank loans |
Included in bank loans in notes 7 and 8 is a combined balance of £13,818 (2023 - £20,775) which is guaranteed by the government and unsecured. |
Hempleman Investment Company Limited (Registered number: 03021779) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
9. | RELATED PARTY DISCLOSURES |
Loans from related parties |
Key management |
Other related parties |
Total |
2024 | £ | £ | £ |
At start of period | 34,059 | 42,000 | 76,059 |
Advanced | 6,842 | 1,266 | 8,108 |
Repaid | (14,880 | ) | (24,000 | ) | (38,880 | ) |
At end of period | 26,021 | 19,266 | 45,287 |
Key management |
Other related parties |
Total |
2023 | £ | £ | £ |
At start of the period | 117,176 | 65,429 | 182,605 |
Advanced | 4,535 | 2,321 | 6,856 |
Repaid | (87,652 | ) | (25,750 | ) | (113,402 | ) |
At end of period | 34,059 | 42,000 | 76,059 |
Loans from key management are interest free and repayable on demand. |
Interest is charged on loans from other related parties at 4%, and are repayable on demand. |