REGISTERED NUMBER: SC577735 (Scotland)

Audited Financial Statements

for the Year Ended 30 June 2025

for

Hope Homes (Chapelton) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Higgins

REGISTERED OFFICE:

Westburn Business Centre

McNee Road

Prestwick

Ayrshire

KA9 2PB

REGISTERED NUMBER:

SC577735 (Scotland)

INDEPENDENT AUDITORS:

Gillespie & Anderson

Statutory Auditors

Chartered Accountants

147 Bath Street

Glasgow

G2 4SN

CURRENT ASSETS

Debtors

4

1,319,289

1,320,465

Cash at bank

2,323

2,353

1,321,612

1,322,818

CREDITORS

Amounts falling due within one year

5

1,006,705

1,006,577

NET CURRENT ASSETS

314,907

316,241

TOTAL ASSETS LESS CURRENT LIABILITIES

314,907

316,241

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

314,807

316,141

SHAREHOLDERS' FUNDS

314,907

316,241

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 June 2026 and were signed by:

J Higgins - Director

1.	STATUTORY INFORMATION

Hope Homes (Chapelton) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The company has completed a recent house-building project, and the director is of a view of finalising the company's commitments as they fall due before ceased its trading.

The director is aware of the reliance placed by the company on the connected parties and its related parties to maintain operations and acknowledges the company is experiencing cash flows issues and this is presenting challenges when meeting obligations as they fall due. The director has concluded that despite the material uncertainty, the company continues to be going concern, meeting its liabilities as they become due in the normal course of business, with support from its connected companies and related parties.

Significant judgements and estimates

The Directors have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The Directors' estimates, assumptions and judgements that have a significant risk of causing material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Financial instruments

Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables

Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities

Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments

A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

Cash and cash equivalents

Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Provision for liabilities

A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 1 ).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

1,319,289

1,319,289

VAT

-

1,176

1,319,289

1,320,465

During the year, Hope South West Limited entered liquidation. At the balance sheet date, the Company was due a balance of £1,319,289 from Hope South West Limited. The recoverability of this balance is uncertain and is dependent on the outcome of the liquidation process.

At the balance sheet date, the director is unable to reliably estimate the amount, if any, that will be recovered. Accordingly, no further adjustment has been made to the carrying value of the balance.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

609,378

610,554

Other creditors

94,577

93,279

Accruals and deferred income

302,750

302,744

1,006,705

1,006,577

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alastair Stewart BA (Hons) CA (Senior Statutory Auditor)

for and on behalf of Gillespie & Anderson

7.	CONTINGENT LIABILITIES

A Surety Bond was entered into with HCC International Insurance Company Plc to The Scottish Ministers as Surety on behalf of Hope Homes (Chapelton) Limited dated 11 April 2018 for the sum of £80,000. This is in respect of the development, Section 21 - Seamill, West Kilbride. On default, Hope Home (Chapelton) Limited is liable for the bond amount and any reasonable costs under the agreement. At 30 June 2025, no provision has been recognised as an outflow of economic benefits was not considered probable.

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, close family members of the sole director, Jennifer Higgins, paid company expenses totalling £1,100 on behalf of the company. At the year end, £1,100 was outstanding and included within creditors.

9.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

10.	POST BALANCE SHEET EVENTS

Subsequent to the year end, Hope Home (Chapelton) Limited received a potential claim for £69,061 by the property owners in respect of the defect in the completed property. This claim is currently in discussion and the Director deem to vigorously challenge this claim.

11.	ULTIMATE CONTROLLING PARTY

The Director, J Higgins, is the ultimate controlling party by virtue of her 100% shareholding in Velocity Modular Ltd, which prepares consolidated financial statements for the group. Hope Homes (Chapelton) Limited and Velocity Modular Ltd have the same registered office address.