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REGISTERED NUMBER: 04071293 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

HOPKINS MOTORSPORT LTD

HOPKINS MOTORSPORT LTD (REGISTERED NUMBER: 04071293)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HOPKINS MOTORSPORT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr P. N. Hopkins
Mr R. Hopkins
Mr O. C. Hopkins





SECRETARY: Mrs S. M. Hopkins





REGISTERED OFFICE: 128 Stoke Lane
Westbury On Trym
Bristol
BS9 3RJ





REGISTERED NUMBER: 04071293 (England and Wales)





ACCOUNTANTS: LARKOS & PARTNERS
128 STOKE LANE
WESTBURY ON TRYM
BRISTOL
BS9 3RJ

HOPKINS MOTORSPORT LTD (REGISTERED NUMBER: 04071293)

BALANCE SHEET
30 SEPTEMBER 2024

30/9/24 30/9/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,589,134 950,361

CURRENT ASSETS
Stocks 1,887,150 2,046,300
Debtors 5 464,640 482,162
Cash at bank and in hand 2,586,937 2,075,673
4,938,727 4,604,135
CREDITORS
Amounts falling due within one year 6 484,845 527,081
NET CURRENT ASSETS 4,453,882 4,077,054
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,043,016

5,027,415

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 8 6,042,016 5,026,415
SHAREHOLDERS' FUNDS 6,043,016 5,027,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Director the Board of Directors and authorised for issue on 7 May 2025 and were signed on its behalf by:




Mr P. N. Hopkins - Director



Mr R. Hopkins - Director


HOPKINS MOTORSPORT LTD (REGISTERED NUMBER: 04071293)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Hopkins Motorsport 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and Machinery - 15% on reducing balance.
Fixtures, Fittings and Equipment - 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.

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 17 (2023 - 19 ) .

HOPKINS MOTORSPORT LTD (REGISTERED NUMBER: 04071293)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023 1,804,136 120,607 95,736 2,020,479
Additions 874,085 2,158 45,000 921,243
At 30 September 2024 2,678,221 122,765 140,736 2,941,722
DEPRECIATION
At 1 October 2023 901,159 92,387 76,572 1,070,118
Charge for year 266,559 4,557 11,354 282,470
At 30 September 2024 1,167,718 96,944 87,926 1,352,588
NET BOOK VALUE
At 30 September 2024 1,510,503 25,821 52,810 1,589,134
At 30 September 2023 902,977 28,220 19,164 950,361

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade debtors 372,525 424,924
Other debtors 42,022 42,000
Staff Loans 6,158 575
VAT 8,183 -
Prepayments 35,752 14,663
464,640 482,162

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade creditors 193,801 286,952
Corporation Tax 107,377 52,768
Social security and other taxes 9,196 10,178
VAT - 43,897
Other creditors 1,678 5,500
Directors' current accounts 163,233 108,766
Accrued expenses 9,560 19,020
484,845 527,081

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/9/24 30/9/23
value: £    £   
2 Ordinary £1 1,000 1,000

HOPKINS MOTORSPORT LTD (REGISTERED NUMBER: 04071293)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


8. RESERVES
Retained
earnings
£   

At 1 October 2023 5,026,415
Profit for the year 1,055,601
Dividends (40,000 )
At 30 September 2024 6,042,016