Registered number: 02366509 | ||||||||
FOR THE YEAR ENDED 30/06/2024 | ||||||||
Prepared By: | ||||||||
Allan G Hill & Partners | ||||||||
Chenies | ||||||||
Okewood Hill | ||||||||
Dorking | ||||||||
Surrey | ||||||||
RH5 5NB |
Hoveblend Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 30/06/2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Surrey | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 02366509 | ||||||||
ACCOUNTANTS | ||||||||
Allan G Hill & Partners | ||||||||
Chenies | ||||||||
Okewood Hill | ||||||||
Dorking | ||||||||
Surrey | ||||||||
RH5 5NB |
Hoveblend Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED30/06/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Hoveblend Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
Investment Assets | 4 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 6 | |||||||||
Cash at bank and in hand | ||||||||||
70,107 | 95,624 | |||||||||
CREDITORS: Amounts falling due within one year | 7 | |||||||||
NET CURRENT LIABILITIES | ( | (141,224) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 8 | 1,029,652 | 967,629 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 11 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 12 | |||||||||
Profit and loss account | 321,918 | 351,658 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Hoveblend Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 30/06/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Plant and Machinery | straight line 25% | |||||||
Equipment | straight line 33% | |||||||
Motor Cars | reducing balance 25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate. |
1e. Goodwill | ||||||||
1f. Investments | ||||||||
Fixed asset investments are shown at cost less amounts written off. | ||||||||
Provisions are made for permanent fluctuations in value. |
Hoveblend Limited | ||||||||
1g. Leases | ||||||||
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term. |
2. INTANGIBLE FIXED ASSETS | ||||
Purchased | ||||
Goodwill | Total | |||
£ | £ | |||
Cost | ||||
At 01/07/2023 | 37,000 | 37,000 | ||
At 30/06/2024 | 37,000 | 37,000 | ||
Depreciation | ||||
At 01/07/2023 | 37,000 | 37,000 | ||
At 30/06/2024 | 37,000 | 37,000 | ||
Net Book Amounts | ||||
At 30/06/2024 | ||||
3. TANGIBLE FIXED ASSETS | |||||||||||
Land And | Plant and | ||||||||||
Buildings | Machinery | Equipment | Motor Cars | Total | |||||||
£ | £ | £ | £ | £ | |||||||
Cost | |||||||||||
At 01/07/2023 | 1,027,748 | 37,557 | 6,054 | 106,876 | 1,178,235 | ||||||
Additions | - | 1,850 | - | 128,710 | 130,560 | ||||||
Disposals | - | - | - | (63,286) | (63,286) | ||||||
At 30/06/2024 | 1,027,748 | 39,407 | 6,054 | 172,300 | 1,245,509 | ||||||
Depreciation | |||||||||||
At 01/07/2023 | - | 24,602 | 2,018 | 38,586 | 65,206 | ||||||
Disposals | - | - | - | (27,688) | (27,688) | ||||||
For the year | - | 8,122 | 2,018 | 40,351 | 50,491 | ||||||
At 30/06/2024 | - | 32,724 | 4,036 | 51,249 | 88,009 | ||||||
Net Book Amounts | |||||||||||
At 30/06/2024 | 1,157,500 | ||||||||||
At 30/06/2023 | 1,113,029 | ||||||||||
Motor vehicles are held under a finance lease. | |||||||||||
Hoveblend Limited | ||||||||
4. FINANCIAL ASSETS | |||||||||
Other | |||||||||
Investments | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
At 01/07/2023 | 350,000 | 350,000 | |||||||
At 30/06/2024 | 350,000 | 350,000 | |||||||
Amortisation | |||||||||
Net Book Amounts | |||||||||
At 30/06/2024 | 350,000 | 350,000 | |||||||
At 30/06/2023 | 350,000 | 350,000 | |||||||
5. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
6. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 1,059 | 1,183 | ||||||
Prepayments | 2,735 | 2,616 | ||||||
3,794 | 3,799 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 15,822 | 14,388 | ||||||
VAT | 48,380 | 52,857 | ||||||
PAYE control | 4,873 | 5,755 | ||||||
Directors current account | 75,670 | 73,183 | ||||||
Bank Loan | 24,113 | 34,022 | ||||||
Hire purchase | 16,028 | 16,171 | ||||||
Other creditors | 38,960 | 40,472 | ||||||
223,846 | 236,848 | |||||||
Hoveblend Limited | ||||||||
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans (secured) >1yr | 895,578 | 905,778 | ||||||
Hire purchase >1yr | 134,074 | 61,851 | ||||||
1,029,652 | 967,629 | |||||||
Other creditors are obligations under finance leases. | ||||||||
9. SECURED CREDITORS | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Amount of bank loans and overdrafts which are secured | 919,691 | 939,800 | ||||||
Amount of other creditors which are secured | 150,102 | 78,022 | ||||||
The bank overdraft and loan are secured by First Legal Charges on the freehold properties of the company known as The Corner House Hotel, 77 Massetts Road, Horley. The bank has granted the company a capital repayment holiday on the loan, this is to be reviewed annually. The hire purchase is secured on the asset to which it relates. | ||||||||
10. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 32 | |||||
11. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Pensions | 1,091 | 1,152 | ||||||
Deferred taxation | - | 266 | ||||||
1,091 | 1,418 | |||||||
Hoveblend Limited | ||||||||
12. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
1000 | 1000 | |||||||
100 | 100 | |||||||
1,100 | 1,100 | |||||||
13. OTHER FINANCIAL COMMITMENTS | ||||||||
At 30/06/2024 the company was committed to making the following payments under non-cancellable operating leases: | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Operating Leases which expire: | ||||||||
Within one year | 15,300 | 15,300 | ||||||
14. CONTROLLING PARTY | ||||||||
The company was controlled by its director, Mr C D N Smith, by virtue of the fact that he owns all of the company's ordinary share capital. | ||||||||