Company registration number 00340631 (England and Wales)
E.C.HOPKINS,LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
E.C.HOPKINS,LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
E.C.HOPKINS,LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
694,798
563,149
Current assets
Stocks
660,286
557,385
Debtors
5
860,464
242,995
Cash at bank and in hand
14,720
197,737
1,535,470
998,117
Creditors: amounts falling due within one year
6
(357,234)
(390,251)
Net current assets
1,178,236
607,866
Total assets less current liabilities
1,873,034
1,171,015
Creditors: amounts falling due after more than one year
7
(458,195)
Provisions for liabilities
(21,150)
(4,445)
Net assets
1,393,689
1,166,570
Capital and reserves
Called up share capital
48,000
48,000
Revaluation reserve
50,388
Profit and loss reserves
1,295,301
1,118,570
Total equity
1,393,689
1,166,570
E.C.HOPKINS,LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 29 July 2025 and are signed on its behalf by:
R E Atkinson
Director
Company registration number 00340631 (England and Wales)
E.C.HOPKINS,LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
E.C.Hopkins,Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Kettles Wood Drive, Woodgate Business Park, Birmingham, West Midlands, B32 3DB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of leasehold properties. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives. Intangible assets in the financial statements are fully amortised.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Long leasehold buildings
Over the length of the lease
Plant and machinery
10% reducing balance
Fixtures & fittings
10% reducing balance
IT equipment
20% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
E.C.HOPKINS,LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
E.C.HOPKINS,LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.14
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
E.C.HOPKINS,LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
13
15
3
Intangible fixed assets
Technical Drawings
£
Cost
At 1 January 2024 and 31 December 2024
7,500
Amortisation
At 1 January 2024 and 31 December 2024
7,500
Carrying amount
At 31 December 2024
At 31 December 2023
E.C.HOPKINS,LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
4
Tangible fixed assets
Long leasehold buildings
Plant and machinery
Fixtures & fittings
IT equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 1 January 2024
582,862
35,458
125,004
11,366
20,991
775,681
Additions
3,292
3,292
Disposals
(646)
(646)
Revaluation
67,138
67,138
At 31 December 2024
650,000
35,458
128,296
10,720
20,991
845,465
Depreciation
At 1 January 2024
71,308
21,769
93,746
8,901
16,808
212,532
Depreciation charged in the year
2,995
1,369
3,321
1,358
1,046
10,089
Eliminated in respect of disposals
(646)
(646)
Revaluation
(71,308)
(71,308)
At 31 December 2024
2,995
23,138
97,067
9,613
17,854
150,667
Carrying amount
At 31 December 2024
647,005
12,320
31,229
1,107
3,137
694,798
At 31 December 2023
511,554
13,689
31,258
2,465
4,183
563,149
The fair value of the leasehold buildings have been arrived at on the basis of a valuation carried out by Carter Jonas LLP on 2 April 2024. The historical cost of the property is £582,862.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
95,738
209,067
Amounts owed by group undertakings
711,323
Other debtors
53,403
33,928
860,464
242,995
E.C.HOPKINS,LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
18,385
Trade creditors
193,268
218,061
Corporation tax
37,665
823
Other taxation and social security
72,864
118,766
Other creditors
35,052
52,601
357,234
390,251
The bank loan is secured by way of a fixed and floating charge against the company assets.
Other creditors includes amounts of £17,902 (2023: nil) payable under invoice finance contracts, this is secured on the debts of the company.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
458,195
The bank loan is secured by way of a fixed and floating charge against the company assets.
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
348,995
-
8
Financial commitments, guarantees and contingent liabilities
The company is party to an omnibus guarantee covering the bank borrowings of the wider group. As at 31 December 2024 these borrowings totalled £1,828,766 (2023: £676,603).
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
22,962
49,857
10
Parent company
On the 14 June 2024 the Share Capital of the company was acquired by Westcrown Limited, a company registered in England and Wales. The registered office is Princess Street, Sheffield, S4 7UU.