T P Hopwell (Holdings) Limited - Limited company accounts 20.1

REGISTERED NUMBER: 01285847 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Period 28 December 2019 to 25 December 2020

for

T P Hopwell (Holdings) Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Cash Flow Statement

10

Notes to the Cash Flow Statement

11

Notes to the Financial Statements

12

DIRECTORS:

Mrs L Hopwell

T C Hopwell

M P Field

SECRETARY:

M P Field

REGISTERED OFFICE:

Glaisdale Drive

Bilborough

Nottingham

Nottinghamshire

NG8 4LU

REGISTERED NUMBER:

01285847 (England and Wales)

AUDITORS:

Clayton & Brewill

Statutory Auditors and

Chartered Accountants

Cawley House

149-155 Canal Street

Nottingham

Nottinghamshire

NG1 7HR

The directors present their strategic report for the period 28 December 2019 to 25 December 2020.

The company is dormant and this is likely to be the case in the future.

ON BEHALF OF THE BOARD:

T C Hopwell - Director

15 April 2021

The directors present their report with the financial statements of the company for the period 28 December 2019 to 25 December 2020.

DIVIDENDS

No dividends will be distributed for the period ended 25 December 2020.

DIRECTORS

The directors shown below have held office during the whole of the period from 28 December 2019 to the date of this report.

Mrs L Hopwell

T C Hopwell

M P Field

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Clayton & Brewill, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

T C Hopwell - Director

15 April 2021

Opinion

We have audited the financial statements of T P Hopwell (Holdings) Limited (the 'company') for the period ended 25 December 2020 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 25 December 2020;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

**ERROR - CLIENT SCREEN - DETECTING IRREGULARITIES - TEXT SHOULD BE ENTERED HERE

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Neil South BA FCA (Senior Statutory Auditor)

for and on behalf of Clayton & Brewill

Statutory Auditors and

Chartered Accountants

Cawley House

149-155 Canal Street

Nottingham

Nottinghamshire

NG1 7HR

15 April 2021

TURNOVER

-

-

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

-

Tax on profit

4

-

-

PROFIT FOR THE FINANCIAL PERIOD

-

-

OTHER COMPREHENSIVE INCOME

Unrealised gain on investment

-

663,213

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF INCOME TAX

-

663,213

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

-

663,213

FIXED ASSETS

Investments

5

9,502,844

9,502,844

CURRENT ASSETS

Cash at bank

503

503

NET CURRENT ASSETS

503

503

TOTAL ASSETS LESS CURRENT LIABILITIES

9,503,347

9,503,347

CAPITAL AND RESERVES

Called up share capital

6

100,000

100,000

Revaluation reserve

7

9,314,344

9,314,344

Retained earnings

7

89,003

89,003

SHAREHOLDERS' FUNDS

9,503,347

9,503,347

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2021 and were signed on its behalf by:

T C Hopwell - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 29 December 2018

100,000

89,003

8,651,131

8,840,134

Changes in equity

Total comprehensive income

-

-

663,213

663,213

Balance at 27 December 2019

100,000

89,003

9,314,344

9,503,347

Changes in equity

Balance at 25 December 2020

100,000

89,003

9,314,344

9,503,347

Cash flows from operating activities

Cash generated from operations

1

-

-

Increase in cash and cash equivalents

-

-

Cash and cash equivalents at beginning of period

2

503

503

Cash and cash equivalents at end of period

2

503

503

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

Period

28.12.19

29.12.18

to

to

25.12.20

27.12.19

£

£

Profit before taxation

-

-

Cash generated from operations

-

-

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 25 December 2020

25.12.20

28.12.19

£

£

Cash and cash equivalents

503

503

Period ended 27 December 2019

27.12.19

29.12.18

£

£

Cash and cash equivalents

503

503

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 28.12.19

Cash flow

At 25.12.20

£

£

£

Net cash

Cash at bank

503

-

503

503

-

503

Total

503

-

503

1.	STATUTORY INFORMATION

T P Hopwell (Holdings) 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investments in subsidiaries

Investments in subsidiaries are held at fair value with changes recognised in other comprehensive income.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

There were no staff costs for the period ended 25 December 2020 nor for the period ended 27 December 2019.

The average number of employees during the period was NIL (2019 - NIL).

Period

Period

28.12.19

29.12.18

to

to

25.12.20

27.12.19

£

£

Directors' remuneration

-

-

4.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the period ended 25 December 2020 nor for the period ended 27 December 2019.

Tax effects relating to effects of other comprehensive income

There were no tax effects for the period ended 25 December 2020.

29.12.18 to 27.12.19

Gross

Tax

Net

£

£

£

Unrealised gain on investment

663,213

-

663,213

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 28 December 2019

and 25 December 2020

9,502,844

NET BOOK VALUE

At 25 December 2020

9,502,844

At 27 December 2019

9,502,844

Cost or valuation at 25 December 2020 is represented by:

Shares in

group

undertakings

£

Valuation in 2009

3,634,000

Valuation in 2010

529,717

Valuation in 2011

584,288

Valuation in 2012

574,847

Valuation in 2013

517,952

Valuation in 2014

682,406

Valuation in 2015

814,177

Valuation in 2016

794,601

Valuation in 2017

519,143

Valuation in 2019

663,213

Cost

188,500

9,502,844

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

2020

2019

£

£

Cost

188,500

188,500

The investment was valued on a fair value basis on 27 December 2019 by the directors of the company .

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Hopwells Limited

Registered office:

Nature of business: Frozen food distribution

%

Class of shares:

holding

Ordinary

84.25

Director's

2020

2019

£

£

Aggregate capital and reserves

10,807,855

12,217,185

(Loss)/profit for the period

(1,406,217

)

489,305

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100,000

Ordinary

£1

100,000

100,000

7.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 28 December 2019

89,003

9,314,344

9,403,347

Profit for the period

-

-

At 25 December 2020

89,003

9,314,344

9,403,347

8.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the period by Mrs L Hopwell a director who owns 60% of the issued share capital of the company.

9.	PROVISIONS FOR LIABILITIES

Deferred tax for which provision has not been made in the financial statements, in respect of revaluation gains, are as follows:

2019

2018

£

£

Share valuation

1,769,725

1,643,715