Hofnote Educational Limited


Directors	Mrs C E Hough
	Mr L J Hough


Company Secretary	Mr L J Hough


Registered Address	79 Spring Bank
	Hull
	HU3 1AG


Registered Number	04695559 (England and Wales)

Statement of Financial Position
31 August 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		22,111		24,210
			22,111		24,210
Current assets
Debtors	4	115		-
Cash at bank and on hand		1,193		1,143
		1,308		1,143
Creditors amounts falling due within one year	5	(16,214)		(15,480)
Net current assets (liabilities)			(14,906)		(14,337)
Total assets less current liabilities			7,205		9,873
Provisions for liabilities	7		(3,966)		(4,319)
Net assets			3,239		5,554
Capital and reserves
Called up share capital			4		4
Profit and loss account			3,235		5,550
Shareholders' funds			3,239		5,554

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 22 September 2026, and are signed on its behalf by:

Mr L J Hough
Director
Registered Company No. 04695559

Hofnote Educational Limited

Notes to the Financial Statements
for the year ended 31 August 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	20
	Office Equipment	4

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	3		3

3.	Tangible fixed assets

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 September 25	33,400	1,822	35,222
At 31 August 26	33,400	1,822	35,222
Depreciation and impairment
At 01 September 25	10,233	779	11,012
Charge for year	1,670	429	2,099
At 31 August 26	11,903	1,208	13,111
Net book value
At 31 August 26	21,497	614	22,111
At 31 August 25	23,167	1,043	24,210

4.	Debtors: amounts due within one year

	2026	2025
	£	£
Other debtors	115	-
Total	115	-


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

5.	Creditors: amounts due within one year

	2026	2025
	£	£
Bank borrowings and overdrafts	-	1,670
Amounts owed to related parties	14,545	11,493
Taxation and social security	883	1,556
Other creditors	-	1
Accrued liabilities and deferred income	786	760
Total	16,214	15,480


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £nil (2025 £1,670) which is denominated in sterling. There are no fees or interest payable for the first 12 months, and thereafter the loan carries a nominal interest rate of 2.5%. The loan is repayable over 6 years, with no repayments in the first year, and with the final instalment due in June 2026. The overall carrying value of the loan as at the year-end is £nil (2025 £1,670).

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £nil (2025 £1,670) which is denominated in sterling. There are no fees or interest payable for the first 12 months, and thereafter the loan carries a nominal interest rate of 2.5%. The loan is repayable over 6 years, with no repayments in the first year, and with the final instalment due in June 2026. 

The overall carrying value of the loan as at the year-end is £nil (2025 £1,670).

6.	Creditors: amounts due after one year
	Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £nil (2025 £nil) which is denominated in sterling. There are no fees or interest payable for the first 12 months, and thereafter the loan carries a nominal interest rate of 2.5%. The loan is repayable over 6 years, with no repayments in the first year, and with the final instalment due in June 2026. The overall carrying value of the loan as at the year-end is £nil (2025 £1,670).

Creditors: amounts due after one year

Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £nil (2025 £nil) which is denominated in sterling. There are no fees or interest payable for the first 12 months, and thereafter the loan carries a nominal interest rate of 2.5%. The loan is repayable over 6 years, with no repayments in the first year, and with the final instalment due in June 2026. 

The overall carrying value of the loan as at the year-end is £nil (2025 £1,670).

7.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	3,966	4,319
Total	3,966	4,319