HPC Corporation Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03197176 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

HPC Corporation Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Hinchliffe

Mrs P B Hinchliffe

SECRETARY:

Mrs P B Hinchliffe

REGISTERED OFFICE:

Little Lydgate Farm

Main Road

Holmesfield

Sheffield

S18 7WB

REGISTERED NUMBER:

03197176 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Intangible assets

4

201,115

335,194

Investments

5

10,080

Investment property

6

704,740

915,935

1,050,014

CURRENT ASSETS

Debtors

7

2,134,299

1,381,133

Cash at bank

3,623,303

3,893,656

5,757,602

5,274,789

CREDITORS

Amounts falling due within one year

8

4,996,199

4,148,760

NET CURRENT ASSETS

761,403

1,126,029

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,677,338

2,176,043

CAPITAL AND RESERVES

Called up share capital

4,000

Share premium

671,333

Retained earnings

1,002,005

1,500,710

SHAREHOLDERS' FUNDS

1,677,338

2,176,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 30 November 2020 and were signed on its behalf by:

J A Hinchliffe - Director

1.	STATUTORY INFORMATION

HPC Corporation 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 "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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about HPC Corporation Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents management charges receivable, excluding value added tax.

Rents receivable on property income are included in other income.

Intangible assets

Goodwill, being the amount paid in connection with the acquisition of the business in 2011, is being amortised evenly over its estimated useful life of ten years.

Investment property

Investment property is not depreciated but is revalued annually at its fair value with any surplus or deficit reflected in the profit and loss account. Any aggregate surplus or deficit arising from changes in fair value is transferred to a fair value reserve.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

1,340,786

AMORTISATION

At 1 April 2019

1,005,592

Charge for year

134,079

At 31 March 2020

1,139,671

NET BOOK VALUE

At 31 March 2020

201,115

At 31 March 2019

335,194

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2019

and 31 March 2020

13,493

PROVISIONS

At 1 April 2019

and 31 March 2020

3,413

NET BOOK VALUE

At 31 March 2020

10,080

At 31 March 2019

10,080

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

and 31 March 2020

704,740

NET BOOK VALUE

At 31 March 2020

704,740

At 31 March 2019

704,740

Included in fair value of investment property is freehold land of £ 50,000 (2019 - £ 50,000 ) which is not depreciated.

Fair value at 31 March 2020 is represented by:

£

Valuation in 2020

704,740

If investment property had not been revalued it would have been included at the following historical cost:

2020

2019

£

Cost

704,740

Aggregate depreciation

(144,045

)

(130,950

)

Investment property was valued on a fair value basis on 31 March 2020 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

Amounts owed by group undertakings

2,120,485

1,358,223

Other debtors

11,141

20,237

Tax

2,673

2,134,299

1,381,133

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

Amounts owed to group undertakings

20,588

Taxation

3,768

481

Social security and other taxes

43,403

1,353

Other creditors

3,488,257

2,895,518

Directors' current accounts

1,068,146

863,852

Accruals and deferred income

372,037

366,968

4,996,199

4,148,760

HPC Corporation Limited - Accounts to registrar (filleted) - small 18.2

HPC Corporation Limited - Accounts to registrar (filleted) - small 18.2