John Hopkins Estate Limited - Period Ending 2020-03-31

John Hopkins Estate Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 10

John Hopkins Estate Limited

Company Information

Directors

Mr MN Hopkins Mrs E H Pickworth

Company secretary

Mrs JS Hopkins

Registered office

Great Meadow Barn Boss Lane Farm, Boss Lane Hughenden Valley High Wycombe Buckinghamshire HP14 4LQ

Accountants

Cannon Moorcroft Limited Chartered Accountants 3 Manor Courtyard Hughenden Avenue High Wycombe Buckinghamshire HP13 5RE

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
John Hopkins Estate Limited
for the Year Ended 31 March 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of John Hopkins Estate Limited for the year ended 31 March 2020 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of John Hopkins Estate Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of John Hopkins Estate Limited and state those matters that we have agreed to state to the Board of Directors of John Hopkins Estate Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Hopkins Estate Limited and its Board of Directors as a body for our work or for this report.

We have not been instructed to carry out an audit or a review of the accounts of John Hopkins Estate Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Cannon Moorcroft Limited
Chartered Accountants
3 Manor Courtyard
Hughenden Avenue
High Wycombe
Buckinghamshire
HP13 5RE

16 March 2021

John Hopkins Estate Limited

(Registration number: 00370861)
Balance Sheet as at 31 March 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	5	487,867	494,293
Investment property	6	2,170,000	2,170,000
Other financial assets	8	1,932,970	2,555,353
		4,590,837	5,219,646
Current assets
Debtors	9	1,552	692
Cash at bank and in hand		409,046	119,382
		410,598	120,074
Creditors: Amounts falling due within one year	10	(110,306)	(148,044)
Net current assets/(liabilities)		300,292	(27,970)
Total assets less current liabilities		4,891,129	5,191,676
Provisions for liabilities		(305,570)	(372,585)
Net assets		4,585,559	4,819,091
Capital and reserves
Called up share capital	11	1,863	1,863
Share premium reserve		589,138	589,138
Revaluation reserve		2,012,836	2,293,328
Profit and loss account		1,981,722	1,934,762
Shareholders' funds		4,585,559	4,819,091

For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

John Hopkins Estate Limited

(Registration number: 00370861)
Balance Sheet as at 31 March 2020

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 March 2021 and signed on its behalf by:
 

.........................................

Mr MN Hopkins
Director

John Hopkins Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

2	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 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.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

John Hopkins Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% on reducing balance
Fixtures and fittings	15% on reducing balance
Motor vehicles	25% on reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2019 - 2).

4

Taxation

Tax charged/(credited) in the income statement

	2020  £	2019  £
Current taxation
UK corporation tax	12,597	16,338
Deferred taxation
Arising from previously unrecognised tax loss, tax credit or temporary difference of prior periods	(67,016)	177,071
Tax (receipt)/expense in the income statement	(54,419)	193,409

Deferred tax

John Hopkins Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2019	455,019	82,381	86,525	623,925
Additions	-	502	-	502
At 31 March 2020	455,019	82,883	86,525	624,427
Depreciation
At 1 April 2019	-	52,732	76,900	129,632
Charge for the year	-	4,522	2,406	6,928
At 31 March 2020	-	57,254	79,306	136,560
Carrying amount
At 31 March 2020	455,019	25,629	7,219	487,867
At 31 March 2019	455,019	29,649	9,625	494,293

Included within the net book value of land and buildings above is £455,019 (2019 - £455,019) in respect of freehold land and buildings.
 

6	Investment properties

	2020 £
At 1 April	2,170,000
At 31 March	2,170,000

The investment properties were valued by the director at 31 March 2020.

The original cost of the properties was £635,000.

7	Investments

2020 £

2019 £

John Hopkins Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020

Subsidiaries	£
Cost or valuation
At 1 April 2019	590,000
Provision
At 1 April 2019	590,000
Carrying amount
At 31 March 2020	-

John Hopkins Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020

8	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2019	2,555,353	2,555,353
Fair value adjustments	(34,262)	(34,262)
Additions	773,464	773,464
Disposals	(1,361,585)	(1,361,585)
At 31 March 2020	1,932,970	1,932,970
Carrying amount
At 31 March 2020	1,932,970	1,932,970

9

Debtors

	2020 £	2019 £
Prepayments	-	692
Other debtors	1,552	-
	1,552	692

10

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Taxation and social security	16,142	19,208
Accruals and deferred income	17,812	17,312
Other creditors	76,352	111,524
	110,306	148,044

John Hopkins Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020

11	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary of £0.10 each	18,616	1,861.60	18,616	1,861.60
A Ordinary of £1 each	10	10	10	10
	18,626	1,872	18,626	1,872

12	Related party transactions

Other transactions with directors

At 31 March 2020 the company owed MN Hopkins £28,349.64 (2019: £116) and EH Pickford £18,259 (2019: £18,259) and Mrs J Hopkins deceased £nil (2019: £55,805). The loans are interest free and have no fixed repayment terms.