Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investments | 4 |
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| 270,847 | 282,482 | |||
| Current assets | ||||
| Stocks | 5 |
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| Debtors | 6 |
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| 379,090 | 533,408 | |||
| Creditors: amounts falling due within one year | 7 | (
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| Net current assets/(liabilities) | 127,078 | (284,278) | ||
| Total assets less current liabilities | 397,925 | (1,796) | ||
| Creditors: amounts falling due after more than one year | 8 | (
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| Provision for liabilities |
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| Net liabilities | (
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| Capital and reserves | ||||
| Called-up share capital | 10 |
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| Profit and loss account | (
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| Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of E K Hooper and Sons Limited (registered number:
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Miss J Hooper
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
E K Hooper and Sons Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is South Farm, Tarrant Hinton, Blandford, DT11 8HX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The Company meets its day to day working capital requirements through their overdraft facility with HSBC Bank plc, which is no longer secured by a fixed and floating charges over the Company's assets. Recent discussions have not indicated that our bankers intend to withdraw their facility within the foreseeable future.
The company had a loan facility of £300,000 from UKAL No1 Limited, which was secured by fixed and floating charges over the company's assets dated 23 October 2020. This loan of £300,000, plus accumulated interest for a 36-month period was due for repayment on 6 October 2023. This loan was re-financed with the new loan facility taken out with HSBC. This loan was re-financed and a new £600,000 loan facility taken out with HSBC to repay the UKAL loan and clear down the overdraft facility with HSBC.
The company was affected by the Covid-19 pandemic and obtained a HSBC bounce back loan of £50,000 which is being repaid. This is secured by the UK Government.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
| Land and buildings |
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| Plant and machinery |
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| Vehicles |
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Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Government grants are recognised based on the performance model.
A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of hte combination at the acquisition date if the adjustment is probable and can be measured reliably.
The company and its joint venture comprise a small group and the directors have taken the exemption not to prepare consolidated group accounts.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Land and buildings | Plant and machinery | Vehicles | Total | ||||
| £ | £ | £ | £ | ||||
| Cost | |||||||
| At 01 October 2023 |
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| Additions |
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| At 30 September 2024 |
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| Accumulated depreciation | |||||||
| At 01 October 2023 |
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| Charge for the financial year |
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| At 30 September 2024 |
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| Net book value | |||||||
| At 30 September 2024 |
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| At 30 September 2023 |
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Investments in subsidiaries
| 2024 | |
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| Cost | |
| At 01 October 2023 |
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| At 30 September 2024 |
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| Carrying value at 30 September 2024 |
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| Carrying value at 30 September 2023 |
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Investments in shares
| Name of entity | Registered office | Principal activity | Class of shares |
Ownership 30.09.2024 |
Ownership 30.09.2023 |
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South Farm, Tarrant Hinton, Blandford Forum, Dorset, DT11 8HX | Letting of commercial property |
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| 2024 | 2023 | ||
| £ | £ | ||
| Stocks |
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| Crops |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
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| Amounts owed by Group undertakings |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans and overdrafts |
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| Trade creditors |
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| Taxation and social security |
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| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
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| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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Transactions with entities in which the entity itself has a participating interest
| 2024 | 2023 | ||
| £ | £ | ||
| Balance at start of period | 164,170 | 166,084 | |
| Advanced | 5,289 | 9,086 | |
| Repaid | (23,006) | (11,000) | |
| Balance at end of period | 146,452 | 164,170 |
Terms of loans to related parties
During the year ended 30 September 2024 the company made an advance to a UK company in which it holds a 50% non-controlling shareholding. This loan is interest-free with no terms for repayment.
Transactions with the entity's directors
| 2024 | 2023 | ||
| £ | £ | ||
| Balance at start of period | (37,134) | (77,584) | |
| Advanced | 92,428 | 40,450 | |
| Repaid | (24,248) | 0 | |
| Balance at end of period | 31,046 | (37,134) |
During the current and prior periods the company made advances to its 3 directors, which are interest-free and repayable on demand.
Allotted, called-up and fully-paid
| 2024 | 2023 | ||
| £ | £ | ||
| 3,201 Ordinary shares of £1.00 each | 3,201 | 3,201 |