Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investments | 4 |
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| 1,349,458 | 1,752,025 | |||
| Current assets | ||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| 418,749 | 509,909 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current liabilities | (396,369) | (431,390) | ||
| Total assets less current liabilities | 953,089 | 1,320,635 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholder's funds |
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Director's responsibilities:
The financial statements of Hepple NE Limited (registered number:
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Alan Hepple
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.
Hepple NE 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 3 Industry Road, Heaton, Newcastle Upon Tyne, NE6 5XB, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
| Land and buildings | not depreciated |
| Leasehold improvements |
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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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price. 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.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
The company has issued preference shares which, in accordance with FRS 102, are classified as a financial liability rather than equity because the terms allow the holder to redeem these for a fixed amount at the option of the holder.
The preference shares do not carry a right to interest and do not attract any fixed or variable dividend. However, because the issuer is obliged to redeem the instrument for cash on specified terms, the instrument meets the definition of a financial liability under Section 22 of FRS 102 and is accounted for as such.
On initial recognition, the liability was measured at the transaction price (being the proceeds received, net of directly attributable transaction costs). Subsequently, the liability is measured at cost (being the amount payable on redemption), subject to adjustment for any repayments made.
No amounts in respect of the preference shares have been recognised as distributions or as finance costs in profit or loss during the year, as the shares do not carry any entitlement to interest or dividends.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| Land and buildings | Leasehold improve- ments |
Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 September 2024 |
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| At 31 August 2025 |
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| Accumulated depreciation | |||||
| At 01 September 2024 |
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| Charge for the financial year |
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| At 31 August 2025 |
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| Net book value | |||||
| At 31 August 2025 | 200,000 | 18,825 | 218,825 | ||
| At 31 August 2024 | 200,000 | 21,392 | 221,392 |
| 2025 | 2024 | ||
| £ | £ | ||
| Subsidiary undertakings |
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During the year, the Company recognised an impairment loss of £400,000 in respect of its investment in subsidiary undertakings. The impairment arose following a review of the subsidiary’s trading performance and future prospects. Based on expected future profits the recoverable amount of the investment has been assessed at approximately £1,130,633, and the investment has therefore been written down accordingly
Investments in shares
| Name of entity | Registered office | Class of shares |
Ownership 31.08.2025 |
Ownership 31.08.2024 |
Held |
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3 Industry Road, Heaton, Newcastle Upon Tyne, NE6 5XB |
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Direct |
| 2025 | 2024 | ||
| £ | £ | ||
| Prepayments |
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| Deferred tax asset |
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| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed to Group undertakings |
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| Amounts owed to director |
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| Accruals |
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| Taxation and social security |
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| Other creditors |
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Included within other creditors are non-cumulative preference shares of £769,834 ( 2024 - £869,834).
Amounts owed to group undertakings are interest free and repayable on demand.
Amounts owed to the director are interest free and repayable on demand.