Year Ended
Registration number:
A.C. Hopkins (Taunton) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
A.C. Hopkins (Taunton) Limited
Company Information
Directors |
Mrs J K Hopkins Mrs S L E Barton |
Registered office |
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Accountants |
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A.C. Hopkins (Taunton) Limited
Balance Sheet
31 March 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
100,000 |
100,000 |
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Profit and loss account |
3,436,183 |
3,575,864 |
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Shareholders' funds |
3,536,183 |
3,675,864 |
A.C. Hopkins (Taunton) Limited
Balance Sheet
31 March 2021
For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 00901424
A.C. Hopkins (Taunton) Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Tone Bridge
Creech St Michael
Taunton
Somerset
TA3 5PN
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A and the Companies Act 2006. There are no material departures from FRS 102.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
A.C. Hopkins (Taunton) Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2021
Key sources of estimation uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The directors have considered the impact upon the company of the COVID-19 pandemic, both in terms of the known immediate impact and possible impact for the foreseeable future (being a period of no less than 12 months from the date of approval of these financial statements). Whilst there has been a major impact on the economy, the impact on the company, so far, has been limited. The directors are satisfied that no adjustments are required to the financial statements arising from the COVID-19 pandemic and are also satisfied, based upon post year end and forecasted financial performance and significant cash reserves, that the going concern basis of preparation remains appropriate.
Revenue recognition
Turnover represents amounts chargeable, net of value added tax and discounts, in respect of the sale of goods to customers and the rendering of services. Turnover is recognised on dispatch of goods and the provision of services to the customers.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is provided on tangible assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life.
Asset class |
Depreciation method and rate |
Freehold Land |
Not depreciated |
Property Improvements |
2% straight line |
A.C. Hopkins (Taunton) Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2021
Fixtures and Fittings |
20% reducing balance |
Motor Vehicles |
25% reducing balance |
Plant and Machinery |
25% reducing balance |
Office Equipment |
35% reducing balance |
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Defined contribution pension obligation
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all of the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments
Staff numbers |
The average number of persons employed by the company during the year, was
A.C. Hopkins (Taunton) Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2021
Tangible assets |
Freehold land |
Furniture, fittings and equipment |
Motor vehicles |
Property improvements |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2020 |
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Additions |
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At 31 March 2021 |
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Depreciation |
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At 1 April 2020 |
- |
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Charge for the year |
- |
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At 31 March 2021 |
- |
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Carrying amount |
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At 31 March 2021 |
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At 31 March 2020 |
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A.C. Hopkins (Taunton) Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2021
Stocks |
2021 |
2020 |
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Goods for resale |
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Consumables |
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Debtors |
2021 |
2020 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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