H.S. Hodgson (Scarborough) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00447593 (England and Wales)

H.S. HODGSON (SCARBOROUGH) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P A Hodgson

S Hodgson

REGISTERED OFFICE:

35/37 Kingsway

Kirkby-in-Ashfield

Nottinghamshire

NG17 7DR

REGISTERED NUMBER:

00447593 (England and Wales)

ACCOUNTANTS:

Killicks Limited

35/37 Kingsway

Kirkby in Ashfield

Nottinghamshire

NG17 7DR

FIXED ASSETS

Tangible assets

4

1,885,141

1,540,803

Investment property

5

1,005,000

1,835,000

2,890,141

3,375,803

CURRENT ASSETS

Stocks

303,500

252,500

Debtors

6

248,728

98,427

Cash at bank and in hand

1,043,681

422,915

1,595,909

773,842

CREDITORS

Amounts falling due within one year

7

431,255

340,000

NET CURRENT ASSETS

1,164,654

433,842

TOTAL ASSETS LESS CURRENT LIABILITIES

4,054,795

3,809,645

PROVISIONS FOR LIABILITIES

62,000

51,000

NET ASSETS

3,992,795

3,758,645

CAPITAL AND RESERVES

Called up share capital

1,100

1,100

Retained earnings

3,991,695

3,757,545

SHAREHOLDERS' FUNDS

3,992,795

3,758,645

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2022 and were signed on its behalf by:

P A Hodgson - Director

1.	STATUTORY INFORMATION

H.S. Hodgson (Scarborough) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents the amounts (excluding VAT) derived from the sale of goods to customers during the year in the U.K.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

The depreciation policy for freehold property is in respect of the company's current properties employed and its holiday apartments. Depreciation is not provided on other older freehold properties as the directors consider their residual values to be in excess of cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2020 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 December 2020

1,698,344

203,256

7,000

1,908,600

Additions

428,454

82,276

-

510,730

Disposals

(101,538

)

(9,074

)

-

(110,612

)

At 30 November 2021

2,025,260

276,458

7,000

2,308,718

DEPRECIATION

At 1 December 2020

268,682

97,178

1,937

367,797

Charge for year

35,943

27,646

1,265

64,854

Eliminated on disposal

-

(9,074

)

-

(9,074

)

At 30 November 2021

304,625

115,750

3,202

423,577

NET BOOK VALUE

At 30 November 2021

1,720,635

160,708

3,798

1,885,141

At 30 November 2020

1,429,662

106,078

5,063

1,540,803

Freehold property, costing £428,454 has been transferred from investment property during the year.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2020

1,835,000

Disposals

(950,000

)

Revaluations

120,000

At 30 November 2021

1,005,000

NET BOOK VALUE

At 30 November 2021

1,005,000

At 30 November 2020

1,835,000

Investment properties with a value of £950,000 at 30 November 2021 have been converted to holiday appartments during the year and transferred to freehold property.

Fair value at 30 November 2021 is represented by:

£

Valuation in 2021

1,005,000

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

2021

2020

£

£

Cost

571,828

1,000,280

The investment properties were valued on a fair value basis on 30 November 2021 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

20,809

37,636

Other debtors

227,919

60,791

248,728

98,427

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

46,782

25,641

Taxation and social security

139,997

72,344

Other creditors

244,476

242,015

431,255

340,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30 November 2021, an amount of £177,323 (2020: £184,822) was owed to P.A. Hodgson and Mrs. S. Hodgson on their joint current account with the company. This amount is unsecured, on an interest free basis and bears no specific terms of repayment.

Dividends of £16,800 (2020: £13,892) have been paid during the year to P.A. Hodgson.

Dividends of £31,200 (2020: £25,800) have been paid during the year to S. Hodgson.