S & R Hopley Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01943317 (England and Wales)

S & R HOPLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R V Hopley

Mr R J Hopley

REGISTERED OFFICE:

Halfhead Farm

Shallowford

Stone

Staffordshire

ST15 0PA

REGISTERED NUMBER:

01943317 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

7,675

Tangible assets

5

2,113,924

2,076,979

Investments

6

50

50

2,113,974

2,084,704

CURRENT ASSETS

Stocks

160,260

147,855

Debtors

7

438,773

327,630

599,033

475,485

CREDITORS

Amounts falling due within one year

8

(391,848

)

(285,882

)

NET CURRENT ASSETS

207,185

189,603

TOTAL ASSETS LESS CURRENT LIABILITIES

2,321,159

2,274,307

CREDITORS

Amounts falling due after more than one year

9

(103,349

)

(118,569

)

PROVISIONS FOR LIABILITIES

(62,098

)

(52,675

)

NET ASSETS

2,155,712

2,103,063

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

2,155,612

2,102,963

SHAREHOLDERS' FUNDS

2,155,712

2,103,063

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Board of Directors and authorised for issue on 17 August 2020 and were signed on its behalf by:

Mr R V Hopley - Director

1.	STATUTORY INFORMATION

S & R Hopley Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section

1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act

2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and

rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Sale of goods

Turnover from the sale of livestock, crops and wool is recognised when significant risks and rewards of

ownership of the goods have transferred to the buyer, the amount of turnover 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 transaction can be measured reliably. This is usually on dispatch of

the goods.

Compensation

Income from compensation is recognised when received. The value received is based on either statutory loss

of land from growing crops or temporary land take and disturbance.

Government Grants

Government grants are recognised at the fair value of the asset received or receivable when there is

reasonable assurance that the company will comply with conditions attaching to them and the grants will be

received using the accrual model.

Also included as government grants is the entitlement value of the Basic Payment Scheme which has been

capitalised as an intangible asset.

Rent received

Rental income is recognised using the accrual model.

Intangible assets

Intangible assets acquired separately from a business are capitalised at cost. Intangible assets acquired on

business combinations are capitalised separately from goodwill if the fair value can be measured reliably on

initial recognition.

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible

assets are as follows:

Basic Payment Scheme entitlements - 6 years

Provision is made for any impairment.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Agricultural Buildings

-

4 - 10% on reducing balance

Plant and machinery

-

20% on reducing balance and 10% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of

operating as intended.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes

all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and

condition. Deemed cost is used where actual cost is not accurately ascertainable. Provision is made for

damaged, obsolete and slow-moving stock where appropriate.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current

or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates

and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial

statements of current and previous periods. It is recognised in respect of all timing differences, with certain

exceptions. Timing differences are differences between taxable profits and total comprehensive income as

stated in the financial statements that arise from the inclusion of income and expense in tax assessments in

periods different from those in which they are recognised in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the

balance sheet date that are expected to apply to the reversal of timing differences.

Leases

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and

the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge

and the reduction of the outstanding lease liability using the effective interest method. The related

obligations, net of future finance charges, are included in creditors

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2019

and 31 December 2019

46,050

AMORTISATION

At 1 January 2019

38,375

Charge for year

7,675

At 31 December 2019

46,050

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

7,675

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2019

2,018,624

594,986

2,613,610

Additions

1,814

82,782

84,596

Disposals

-

(16,250

)

(16,250

)

At 31 December 2019

2,020,438

661,518

2,681,956

DEPRECIATION

At 1 January 2019

79,370

457,261

536,631

Charge for year

2,813

43,143

45,956

Eliminated on disposal

-

(14,555

)

(14,555

)

At 31 December 2019

82,183

485,849

568,032

NET BOOK VALUE

At 31 December 2019

1,938,255

175,669

2,113,924

At 31 December 2018

1,939,254

137,725

2,076,979

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

26,200

At 31 December 2019

26,200

DEPRECIATION

Charge for year

5,240

At 31 December 2019

5,240

NET BOOK VALUE

At 31 December 2019

20,960

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2019

and 31 December 2019

50

NET BOOK VALUE

At 31 December 2019

50

At 31 December 2018

50

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

19,663

8,153

Other debtors

411,848

311,593

VAT

807

1,474

Prepayments

6,455

6,410

438,773

327,630

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

201,241

72,749

Other Loans

29,465

30,273

Hire purchase contracts

8,833

-

Trade creditors

11,023

36,314

Tax

7,478

34,928

Social security and other taxes

172

170

Directors' current accounts

120,122

98,349

Accruals

13,514

13,099

391,848

285,882

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other loans - 2-5 years

90,710

118,569

Hire purchase contracts

12,639

-

103,349

118,569

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

11.	RELATED PARTY DISCLOSURES

Group companies have bank loan arrangements which are secured on the assets of S & R Hopley Limited.