Hopeburn Limited - Period Ending 2014-12-31

Registration number: SC316304

Hopeburn Limited

Unaudited Abbreviated Accounts

for the Period from 1 October 2013 to 31 December 2014

 

Deans Accountants And Business Advisors Ltd
Chartered Accountants and Business Advisors
1 Melgund Place
Hawick
Borders
TD9 9HY

Hopeburn Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Hopeburn Limited
(Registration number: SC316304)
at 31 December 2014

		Note			31 December 2014 £			30 September 2013 £
Fixed assets
Tangible fixed assets					137,308			148,206
Investments					356,409			333,144
					493,717			481,350
Current assets
Debtors					464,314			493,499
Cash at bank and in hand					3,008			17,927
					467,322			511,426
Creditors: Amounts falling due within one year					(60,255)			(89,268)
Net current assets					407,067			422,158
Total assets less current liabilities					900,784			903,508
Creditors: Amounts falling due after more than one year					(816,165)			(808,335)
Net assets					84,619			95,173
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					84,519			95,073
Shareholders' funds					84,619			95,173

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 5 June 2015 and signed on its behalf by:

.........................................
Mr Peter John McCann
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Hopeburn Limited
Notes to the Abbreviated Accounts for the Period from 1 October 2013 to 31 December 2014

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is calculated to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:-

Asset class	Depreciation method and rate
Commercial Yacht	5% straight line

Fixed asset investments

The investments are recorded at the Director's current valuation.

Foreign currency

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Hire purchase and leasing

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Hopeburn Limited
Notes to the Abbreviated Accounts for the Period from 1 October 2013 to 31 December 2014

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 October 2013		174,360			333,144			507,504
Revaluations		-			23,265			23,265
At 31 December 2014		174,360			356,409			530,769
Depreciation
At 1 October 2013		26,154			-			26,154
Charge for the period		10,898			-			10,898
At 31 December 2014		37,052			-			37,052
Net book value
At 31 December 2014		137,308			356,409			493,717
At 30 September 2013		148,206			333,144			481,350

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		31 December 2014 £			30 September 2013 £
Amounts falling due within one year		10,716			10,716
Amounts falling due after more than one year		73,477			87,692
Total secured creditors		84,193			98,408

Included in the creditors are the following amounts due after more than five years:

		31 December 2014 £			30 September 2013 £
After more than five years by instalments		772,581			764,751

4	Share capital

Allotted, called up and fully paid shares

	31 December 2014						30 September 2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3

Hopeburn Limited
Notes to the Abbreviated Accounts for the Period from 1 October 2013 to 31 December 2014

5	Related party transactions

Directors' advances and credits

	1 October 2013 to 31 December 2014 Advance/ Credit £	1 October 2013 to 31 December 2014 Repaid £	Year ended 30 September 2013 Advance/ Credit £	Year ended 30 September 2013 Repaid £
Mr Peter John McCann
The loans are interest free and there are no specific terms for repayment.	48,159	-	77,172	-

Page 4