Hoppers Jewellers Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01745213 (England and Wales)

HOPPERS JEWELLERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

Mrs F J Porter

R A Orrey

REGISTERED OFFICE:

11 Watergate

Grantham

Lincolnshire

NG31 6NS

REGISTERED NUMBER:

01745213 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

BANKERS:

HSBC Bank Plc

26 Market Place

Sleaford

Lincolnshire

NG34 7SB

FIXED ASSETS

Tangible assets

4

3,623

97,732

Investments

5

4,800

4,800

8,423

102,532

CURRENT ASSETS

Stocks

199,335

169,432

Debtors

6

35,445

82,707

Cash at bank and in hand

1,256

2,682

236,036

254,821

CREDITORS

Amounts falling due within one year

7

(260,494

)

(383,777

)

NET CURRENT LIABILITIES

(24,458

)

(128,956

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(16,035

)

(26,424

)

CAPITAL AND RESERVES

Called up share capital

9

8,608

8,608

Share premium

98,295

98,295

Retained earnings

(122,938

)

(133,327

)

SHAREHOLDERS' FUNDS

(16,035

)

(26,424

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 19 December 2017 and were signed on its behalf by:

Mrs F J Porter - Director

1.	STATUTORY INFORMATION

Hoppers Jewellers 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 the provisions of Section 1A "Small Entities" of 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.

The financial statements for the year ended 31 March 2017 are the first financial statements of Hoppers

Jewellers Limited prepared in accordance with FRS 102.

At the balance sheet date the company had net current liabilities of £24,458 (2016:£128,956) and net liabilities

of £16,035 (2016: £26,424).

The directors consider the financial statements should be prepared on a going concern basis because, in their

opinion, the company will achieve profitability in future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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

Long leasehold

-

20% on reducing balance

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

33% on cost

Stocks

Stocks are stated at the lower of cost and fair value less costs to complete and sell after making due allowance

for slow moving and obsolete items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Investments

Investments held as fixed assets have been valued at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2016 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Long

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 April 2016

125,000

12,647

52,572

Disposals

(125,000

)

-

-

At 31 March 2017

-

12,647

52,572

DEPRECIATION

At 1 April 2016

32,500

12,126

48,799

Charge for year

1,671

104

754

Eliminated on disposal

(34,171

)

-

-

At 31 March 2017

-

12,230

49,553

NET BOOK VALUE

At 31 March 2017

-

417

3,019

At 31 March 2016

92,500

521

3,773

Motor

Office

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2016

1,995

36,367

228,581

Additions

-

265

265

Disposals

(1,995

)

-

(126,995

)

At 31 March 2017

-

36,632

101,851

DEPRECIATION

At 1 April 2016

1,150

36,274

130,849

Charge for year

211

171

2,911

Eliminated on disposal

(1,361

)

-

(35,532

)

At 31 March 2017

-

36,445

98,228

NET BOOK VALUE

At 31 March 2017

-

187

3,623

At 31 March 2016

845

93

97,732

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2016

and 31 March 2017

4,800

NET BOOK VALUE

At 31 March 2017

4,800

At 31 March 2016

4,800

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

7,967

70,000

Directors' current accounts

7,316

-

Prepayments and accrued income

20,162

12,707

35,445

82,707

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

28,889

45,191

Trade creditors

117,327

140,044

Other taxes and social security

104,750

187,013

Other creditors

1,650

5,291

Directors' current accounts

-

312

Accruals and deferred income

7,878

5,926

260,494

383,777

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

28,889

27,323

Bank loans

-

17,868

28,889

45,191

A director has given a personal guarantee of £16,000 in respect of bank borrowings.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

7,608

Ordinary 'A' shares

£1

7,608

7,608

1,000

Ordinary 'B' shares

£1

1,000

1,000

8,608

8,608

10.	OTHER FINANCIAL COMMITMENTS

The company has commitments due as follows:

2017

2016

£

£

Due in less than one year

19,451

10,964

Due between two and five years

45,398

25,979

Due after five years

11,010

-

75,859

36,943

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

Mrs F J Porter

Balance outstanding at start of year

-

-

Amounts advanced

16,458

-

Amounts repaid

(9,142

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

7,316

-

Loans to directors are interest free and repayable on demand.

12.	FIRST YEAR ADOPTION

There were no adjustments required on transition to FRS 102 section 1A.