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HOPTROFF LONDON LIMITED |
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Financial Statements |
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for the Year Ended 30 April 2019 |
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HOPTROFF LONDON LIMITED |
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Financial Statements |
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for the Year Ended 30 April 2019 |
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HOPTROFF LONDON LIMITED (REGISTERED NUMBER: 09566434) |
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Contents of the Financial Statements |
for the year ended 30 April 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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HOPTROFF LONDON LIMITED |
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Company Information |
for the year ended 30 April 2019 |
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Directors: |
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Registered office: |
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Registered number: |
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HOPTROFF LONDON LIMITED (REGISTERED NUMBER: 09566434) |
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Balance Sheet |
30 April 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
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Tangible assets | 5 |
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Current assets |
Debtors | 6 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 7 |
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Net current (liabilities)/assets | ( |
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Total assets less current liabilities |
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Capital and reserves |
Called up share capital | 8 |
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Share premium | 9 |
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Retained earnings | 9 | ( |
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Shareholders' funds |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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HOPTROFF LONDON LIMITED (REGISTERED NUMBER: 09566434) |
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Notes to the Financial Statements |
for the year ended 30 April 2019 |
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1. | Statutory information |
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Hoptroff London Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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The presentation currency is £ sterling. |
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Significant judgements and estimates |
In applying the Company's accounting policies, the director is required to make judgements, estimates and |
assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimated |
and assumptions are based on the best and most reliable evidence available at the time when the decisions are |
made, and are based on historical experience and other factors that are considered to be applicable. Due to |
the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results |
and outcomes may differ. |
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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting |
estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, |
or in the period of the revision and future periods, if the revision affects both current and future periods. |
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Critical judgements in applying the Company's accounting policies |
The critical judgement that the director has made in the process of applying the Company's accounting policies |
that have the most significant effect on the amounts recognised in the statutory financial statements are |
discussed below. |
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(i) Assessing indicators and impairment |
In assessing whether there have been any indicators or impairment assets, the director has considered both |
external and internal sources of information such as market conditions, counterparty credit ratings and |
experience or recoverability. There have been no inductors or impairments identified during the current |
financial year. |
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Key sources of estimation uncertainty |
The key assumptions concerning the future, and other key sources of estimation uncertainty that have a |
significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next |
financial year are discussed below. |
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(ii) Recoverability of receivables |
The company establishes a provision for receivables that are estimated not to be recoverable. When assessing |
recoverability the directors consider factors such as the aging of the receivables, past experience and |
recoverability, and the credit profile of individual or groups of customers. |
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Turnover |
Turnover represents amounts receivable for [goods/services] provided in the year and is stated net of VAT. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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HOPTROFF LONDON LIMITED (REGISTERED NUMBER: 09566434) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
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2. | Accounting policies - continued |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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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. |
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Going concern |
These financial statements have been prepared on a going concern basis. |
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The current economic conditions present increased risks for all businesses. In response to such conditions, the |
directors have carefully considered these risks including an assessment on uncertainty on future trading |
projection for a period of at least 12 months from the date of signing the financial statements, and the extent to |
which they might affect the preparation of the financial statements on a going concern basis. |
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Based on assessment, the directors consider that the Company maintains an appropriate level of liquidity, |
sufficient to meet the demands of the business including any capital and servicing obligations and external debt |
liabilities. In addition, the Company's assets are assessed for recoverability on a regular basis, and the |
directors consider that the Company is not exposed to losses on these assets which would affect their decision |
to adopt the going concern basis. |
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The directors have a reasonable expectation that the Company has adequate resources to continue in |
operational existence for the foreseeable future and that there are no material uncertainties that lead to |
significant doubts upon the Company's ability to continue as a going concern. Thus the directors have |
continued to adopt the going concern basis of accounting in preparing these financial statements. |
HOPTROFF LONDON LIMITED (REGISTERED NUMBER: 09566434) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
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2. | Accounting policies - continued |
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Financial instruments |
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
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(i) Financial assets |
Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at |
transaction price, unless the arrangement constitutes a financing transaction, where the transaction is |
measured at the present value of the future receipts discounted at a market rate of interest. Such assets are |
subsequently carried at amortised cost using the effective interest method. |
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At the end of each reporting period financial assets measured at amortised cost are assessed for objective |
evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying |
amount and the present value of the estimated cash flows discounted at the asset's original effective interest |
rate. The impairment loss is recognised in profit or loss. |
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If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, |
the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the |
carrying amount would have been had the impairment not previously been recognised. The impairment reversal |
is recognised in profit or loss. |
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Other financial assets, including investments in equity instruments which are not subsidiaries, associates or |
joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are |
subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that |
investments in equity instruments that are not publically traded and whose fair values cannot be measured |
reliably are measured at cost less impairment. |
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Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are |
settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another |
party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has |
been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third |
party without imposing additional restrictions. |
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(ii) Financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans, are initially recognised at transaction |
price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the |
present value of the future receipts discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year |
or less. If not, they are presented as non-current liabilities. |
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Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is |
discharged, cancelled or expires. |
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3. | Employees and directors |
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The average number of employees during the year was
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HOPTROFF LONDON LIMITED (REGISTERED NUMBER: 09566434) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
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4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 May 2018 |
and 30 April 2019 |
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Amortisation |
At 1 May 2018 |
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Amortisation for year |
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At 30 April 2019 |
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Net book value |
At 30 April 2019 |
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At 30 April 2018 |
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5. | Tangible fixed assets |
Computer |
equipment |
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Cost |
At 1 May 2018 |
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Additions |
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At 30 April 2019 |
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Depreciation |
At 1 May 2018 |
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Charge for year |
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At 30 April 2019 |
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Net book value |
At 30 April 2019 |
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At 30 April 2018 |
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6. | Debtors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade debtors |
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Directors' current accounts | 25,007 | - |
Tax |
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VAT |
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Prepayments and accrued income |
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HOPTROFF LONDON LIMITED (REGISTERED NUMBER: 09566434) |
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Notes to the Financial Statements - continued |
for the year ended 30 April 2019 |
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7. | Creditors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Other loans |
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Trade creditors |
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Social security and other taxes |
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Directors' current accounts | 21,695 | 8,747 |
Accrued expenses |
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8. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 509,715 | 447,103 |
(2018 - 447,103 ) |
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62,611 Ordinary shares of £1 were issued for cash during the period for £466,913. |
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9. | Reserves |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 May 2018 | ( |
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(375,915 | ) |
Deficit for the year | ( |
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Cash share issue | - | 404,302 | 404,302 |
At 30 April 2019 | ( |
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(507,903 | ) |
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10. | Ultimate controlling party |
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There is no ultimate controlling party. |