Hopeman Ltd

HOPEMAN LTD - Company Information

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Registered number: SC473945

Hopeman Ltd

Unaudited Financial Statements

For The Year Ended 31 March 2023

14 Newton Place

Glasgow

G3 7PY

Hopeman Ltd

Unaudited Financial Statements

For The Year Ended 31 March 2023

Unaudited Financial Statements

	Page
Contents
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Page 1

Hopeman Ltd

Balance Sheet

As At 31 March 2023

Balance Sheet

Registered number: SC473945

		2023		2022
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		7,637		11,337
Tangible Assets	5		98,289		65,179

			105,926		76,516
CURRENT ASSETS
Stocks	6	3,000		2,500
Cash at bank and in hand		46,211		52,145

		49,211		54,645
Creditors: Amounts Falling Due Within One Year	7	(94,732 )		(79,904 )

NET CURRENT ASSETS (LIABILITIES)			(45,521 )		(25,259 )

TOTAL ASSETS LESS CURRENT LIABILITIES			60,405		51,257

Creditors: Amounts Falling Due After More Than One Year	8		(42,271 )		(59,417 )

NET ASSETS/(LIABILITIES)			18,134		(8,160 )

CAPITAL AND RESERVES
Called up share capital	9		1		1
Profit and Loss Account			18,133		(8,161 )

SHAREHOLDERS' FUNDS			18,134		(8,160)

Page 1

Page 2

Hopeman Ltd

Balance Sheet (continued)

As At 31 March 2023

For the year ending 31 March 2023 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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Neil Halls

Director

17/01/2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

Page 3

Hopeman Ltd

Notes to the Financial Statements

For The Year Ended 31 March 2023

Notes to the Financial Statements

1. General Information

Hopeman Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC473945 . The registered office is C/o Gallone And Co., 14 Newton Place, Glasgow, G3 7PY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

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

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover 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.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	15% Reducing Balance
Fixtures & Fittings	15% Reducing Balance

2.6. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Page 4

Hopeman Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2023

2.7. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2022: 8)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2022	37,238

As at 31 March 2023	37,238

Amortisation
As at 1 April 2022	25,901
Provided during the period	3,700

As at 31 March 2023	29,601

Net Book Value
As at 31 March 2023	7,637

As at 1 April 2022	11,337

5. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 April 2022	-	178,372	178,372
Additions	41,561	3,600	45,161

As at 31 March 2023	41,561	181,972	223,533

Depreciation
As at 1 April 2022	-	113,193	113,193
Provided during the period	6,234	5,817	12,051

As at 31 March 2023	6,234	119,010	125,244

Net Book Value
As at 31 March 2023	35,327	62,962	98,289

As at 1 April 2022	-	65,179	65,179

The property has been pledged as security against borrowings.

Page 4

Page 5

Hopeman Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2023

6. Stocks

	2023	2022
	£	£
Materials	3,000	2,500

7. Creditors: Amounts Falling Due Within One Year

	2023	2022
	£	£
Trade creditors	54,557	4,526
Bank loans and overdrafts	9,000	9,000
Corporation tax	13,646	16,971
Other taxes and social security	3,429	3,377
VAT	9,174	615
Accruals and deferred income	2,000	3,127
Directors' loan accounts	2,926	42,288

	94,732	79,904

8. Creditors: Amounts Falling Due After More Than One Year

	2023	2022
	£	£
Bank loans	42,271	59,417

	42,271	59,417

9. Share Capital

	2023	2022
	£	£
Allotted, Called up and fully paid	1	1

10. Related Party Transactions

During the year the following loans were made from the director to the company:

Opening balance - £47,288

Payments - £5,000

Closing balance - £42,288

The loan is made interest free and is repayable on demand.

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