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REGISTERED NUMBER: 03352296 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

HILLSIDE CONTRACTS LIMITED

HILLSIDE CONTRACTS LIMITED (REGISTERED NUMBER: 03352296)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HILLSIDE CONTRACTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mr CD Hinsley
Mr ALJ Mathe
Mr CF Shields
Mr C Goode
Mr M Robins
Mrs JL Singer
Mr T D Sheppard



SECRETARY: Mrs JL Singer



REGISTERED OFFICE: The Nook
Whetstone
Leicester
Leicestershire
LE8 6LU



REGISTERED NUMBER: 03352296 (England and Wales)



BANKERS: Lloyds Bank Plc
7 High Street
Leicester
LE1 9FS

HILLSIDE CONTRACTS LIMITED (REGISTERED NUMBER: 03352296)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 640,711 631,070

CURRENT ASSETS
Stocks 5 143,675 138,335
Debtors 6 2,104,285 1,756,064
Cash at bank 694,133 470,845
2,942,093 2,365,244
CREDITORS
Amounts falling due within one year 7 720,336 601,889
NET CURRENT ASSETS 2,221,757 1,763,355
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,862,468

2,394,425

CREDITORS
Amounts falling due after more than one
year

8

(31,123

)

-

PROVISIONS FOR LIABILITIES (11,916 ) (665 )
NET ASSETS 2,819,429 2,393,760

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,818,429 2,392,760
SHAREHOLDERS' FUNDS 2,819,429 2,393,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

HILLSIDE CONTRACTS LIMITED (REGISTERED NUMBER: 03352296)

BALANCE SHEET - continued
31 MAY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:




Mr CD Hinsley - Director Mrs JL Singer - Director




Mr ALJ Mathe - Director Mr CF Shields - Director




Mr C Goode - Director Mr M Robins - Director




Mr T D Sheppard - Director


HILLSIDE CONTRACTS LIMITED (REGISTERED NUMBER: 03352296)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Hillside Contracts 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

The company supplies products and services to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on completion of the contract.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost
Freehold land - not depreciated

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


HILLSIDE CONTRACTS LIMITED (REGISTERED NUMBER: 03352296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued
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.

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.

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.

Operating Leases
Operating lease rentals are charged in the income statement on a straight line basis over the lease term.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2022 - 47 ) .

HILLSIDE CONTRACTS LIMITED (REGISTERED NUMBER: 03352296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold & equiptmen Motor Computer
property t vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 597,225 51,684 285,618 13,094 947,621
Additions - 407 69,470 - 69,877
Disposals - - (90,818 ) - (90,818 )
At 31 May 2023 597,225 52,091 264,270 13,094 926,680
DEPRECIATION
At 1 June 2022 47,778 44,834 210,845 13,094 316,551
Charge for year 7,963 1,730 29,766 - 39,459
Eliminated on disposal - - (70,041 ) - (70,041 )
At 31 May 2023 55,741 46,564 170,570 13,094 285,969
NET BOOK VALUE
At 31 May 2023 541,484 5,527 93,700 - 640,711
At 31 May 2022 549,447 6,850 74,773 - 631,070

Included in cost of freehold property is freehold land of £199,075 (2022 - £199,075) which is not depreciated.

5. STOCKS
2023 2022
£    £   
Stocks 123,525 95,484
Work-in-progress 20,150 42,851
143,675 138,335

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,244,812 1,031,635
Amounts owed by group undertakings 689,222 573,190
Other debtors 1,118 1,297
Directors' current accounts 6,750 9,500
VAT 162,383 140,442
2,104,285 1,756,064

HILLSIDE CONTRACTS LIMITED (REGISTERED NUMBER: 03352296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 9,113 13,078
Trade creditors 339,610 309,810
Taxation 94,866 21,735
Social security and other taxes 59,182 62,818
Accruals and deferred income 217,565 194,448
720,336 601,889

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 31,123 -

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 9,113 13,078
Between one and five years 31,123 -
40,236 13,078

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 40,236 13,078

Hire purchase liabilities are secured on the assets to which they relate.

11. RELATED PARTY DISCLOSURES

At the year end, the company was owed £6,750 (2022 - £9,500) from the directors.

No interest was charged on the above balances.

HILLSIDE CONTRACTS LIMITED (REGISTERED NUMBER: 03352296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


12. PARENT UNDERTAKING

The ultimate parent undertaking of the company is Hillside (Leicester) Limited. The registered office and principal place of business of Hillside (Leicester) Limited is The Nook, Whetstone, Leicester, LE8 6LU.

The company is the subsidiary undertaking of a small group and as such is not required by the companies Act 2006 to prepare group accounts.