IRIS Accounts Production v23.4.0.336 SC118548 director 1.11.22 31.10.23 31.10.23 true false true false false false true false Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1185482022-10-31SC1185482023-10-31SC1185482022-11-012023-10-31SC1185482021-10-31SC1185482021-11-012022-10-31SC1185482022-10-31SC118548ns15:Scotland2022-11-012023-10-31SC118548ns14:PoundSterling2022-11-012023-10-31SC118548ns10:Director12022-11-012023-10-31SC118548ns10:PrivateLimitedCompanyLtd2022-11-012023-10-31SC118548ns10:SmallEntities2022-11-012023-10-31SC118548ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-31SC118548ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-31SC118548ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-31SC118548ns10:FullAccounts2022-11-012023-10-31SC11854812022-11-012023-10-31SC118548ns10:OrdinaryShareClass12022-11-012023-10-31SC118548ns10:RegisteredOffice2022-11-012023-10-31SC118548ns5:CurrentFinancialInstruments2023-10-31SC118548ns5:CurrentFinancialInstruments2022-10-31SC118548ns5:Non-currentFinancialInstruments2023-10-31SC118548ns5:Non-currentFinancialInstruments2022-10-31SC118548ns5:ShareCapital2023-10-31SC118548ns5:ShareCapital2022-10-31SC118548ns5:RetainedEarningsAccumulatedLosses2023-10-31SC118548ns5:RetainedEarningsAccumulatedLosses2022-10-31SC118548ns5:NetGoodwill2022-11-012023-10-31SC118548ns5:LeaseholdImprovements2022-11-012023-10-31SC118548ns5:FurnitureFittings2022-11-012023-10-31SC118548ns5:MotorVehicles2022-11-012023-10-31SC118548ns5:NetGoodwill2022-10-31SC118548ns5:NetGoodwill2023-10-31SC118548ns5:NetGoodwill2022-10-31SC118548ns5:PlantMachinery2022-10-31SC118548ns5:PlantMachinery2022-11-012023-10-31SC118548ns5:PlantMachinery2023-10-31SC118548ns5:PlantMachinery2022-10-31SC118548ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-31SC118548ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-31SC118548ns10:OrdinaryShareClass12023-10-31SC1185481ns10:Director12022-10-31SC1185481ns10:Director12021-10-31SC1185481ns10:Director12022-11-012023-10-31SC1185481ns10:Director12021-11-012022-10-31SC1185481ns10:Director12023-10-31SC1185481ns10:Director12022-10-31
REGISTERED NUMBER: SC118548 (Scotland)















Financial Statements for the Year Ended 31 October 2023

for

Hilton Instruments Limited

Hilton Instruments Limited (Registered number: SC118548)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hilton Instruments Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: K Norrie





REGISTERED OFFICE: Howe Moss Avenue
Kirkhill Industrial Estate
Dyce
Aberdeen
AB21 0GP





REGISTERED NUMBER: SC118548 (Scotland)





ACCOUNTANTS: Tawse & Partners
Chartered Accountants
18 North Silver Street
Aberdeen
AB10 1JU

Hilton Instruments Limited (Registered number: SC118548)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 44,837 11,092
44,837 11,092

CURRENT ASSETS
Stocks 7 325,463 509,728
Debtors: amounts falling due within one
year

8

3,658,195

4,198,682
Cash at bank 1,323,213 557,093
5,306,871 5,265,503
CREDITORS
Amounts falling due within one year 9 838,795 1,027,328
NET CURRENT ASSETS 4,468,076 4,238,175
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,512,913

4,249,267

CREDITORS
Amounts falling due after more than one
year

10

(13,632

)

-

PROVISIONS FOR LIABILITIES (2,438 ) -
NET ASSETS 4,496,843 4,249,267

CAPITAL AND RESERVES
Called up share capital 13 1,000 1,000
Retained earnings 4,495,843 4,248,267
SHAREHOLDERS' FUNDS 4,496,843 4,249,267

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Hilton Instruments Limited (Registered number: SC118548)

Balance Sheet - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 April 2024 and were signed by:





K Norrie - Director


Hilton Instruments Limited (Registered number: SC118548)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Hilton Instruments Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other members of the group.

Hilton Instruments Limited (Registered number: SC118548)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. ACCOUNTING POLICIES - continued

Turnover and other income recognition
Turnover is measured at fair value of the consideration received or receivable net of value added tax and discounts. The policies adopted for the recognition of turnover and other income are as follows:

Sales of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from services rendered is recognised by reference to the stage of completion at the Statement of Financial Position date. Stage of completion is measured by reference to contractual rates of labour hours for services rendered and direct expenses incurred.
When the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Management charges
Management fees are recognised on an monthly basis, once the management services for the month have been provided.

Interest receivable
Interest receivable is recognised using the effective interest method.

Government Grants
Government Grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received using the accrual model.

Goodwill
Goodwill, arising from the transfer of the subsidiary's trade and net assets, has been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenants improvements - Over 15 years straight line
Fixtures, fittings & equipment - 25% straight line
Motor vehicles - 25% straight line

Tangible fixed assets are stated at deemed cost less accumulated depreciation and accumulated impairment.

Stocks
Stock are valued at the lower of cost and estimated selling price less costs to sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its current location and condition. Provision is made for damaged, obsolete and slow moving stock where appropriate.

Hilton Instruments Limited (Registered number: SC118548)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an option to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 balance sheet date.


Hilton Instruments Limited (Registered number: SC118548)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. 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.

Foreign currencies
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 transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Tangible fixed assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable withing one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each Balance Sheet date. If such indications exist, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the Income Statement, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 25 ) .

Hilton Instruments Limited (Registered number: SC118548)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 1
AMORTISATION
At 1 November 2022
and 31 October 2023 1
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 155,835
Additions 45,824
Disposals (24,970 )
At 31 October 2023 176,689
DEPRECIATION
At 1 November 2022 144,743
Charge for year 12,079
Eliminated on disposal (24,970 )
At 31 October 2023 131,852
NET BOOK VALUE
At 31 October 2023 44,837
At 31 October 2022 11,092

7. STOCKS
31.10.23 31.10.22
£    £   
Stocks 325,463 509,728

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 1,507,138 1,796,491
Amounts owed by group undertakings 2,083,456 2,107,456
Other debtors 67,601 294,735
3,658,195 4,198,682

Hilton Instruments Limited (Registered number: SC118548)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 8,179 938
Trade creditors 632,082 769,240
Taxation and social security 123,395 123,655
Other creditors 75,139 133,495
838,795 1,027,328

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 13,632 -

11. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Hire purchase contracts 21,811 938

The hire purchase balances are secured over the assets to which they relate.

12. FINANCIAL INSTRUMENTS

31.10.23 31.10.22
£ £
Carrying amount of financial assets
Debt instruments measured at amortised cost 4,956,621 4,619,891

Carrying amount of financial liabilities
Credit instruments measured at amortised cost 729,032 903,673

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
1,000 Ordinary shares £1.00 1,000 1,000

14. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £29,240 (2022 - £28,396).

Hilton Instruments Limited (Registered number: SC118548)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

15. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
K Norrie
Balance outstanding at start of year - 39,058
Amounts repaid - (39,058 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

This loan is interest free and is repayable on demand.

16. ULTIMATE HOLDING COMPANY

The ultimate holding company is Culsalmond Property & Investment Company Limited.