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REGISTERED NUMBER: 03711087 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Hill Associates (Finance) Limited

Hill Associates (Finance) Limited (Registered number: 03711087)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hill Associates (Finance) Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: J D Hill





REGISTERED OFFICE: 1 West Street
Titchfield
Fareham
Hampshire
PO14 4DH





REGISTERED NUMBER: 03711087 (England and Wales)





ACCOUNTANTS: Roches
Chartered Accountants
1 Manor Court
6 Barnes Wallis Road
Segensworth
Fareham
Hampshire
PO15 5TH

Hill Associates (Finance) Limited (Registered number: 03711087)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 111

CURRENT ASSETS
Debtors 5 1,176,307 2,180,657
Investments 6 3,500 5,500
Cash at bank and in hand 790,492 181,489
1,970,299 2,367,646
CREDITORS
Amounts falling due within one year 7 149,928 460,341
NET CURRENT ASSETS 1,820,371 1,907,305
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,820,371

1,907,416

CREDITORS
Amounts falling due after more than one
year

8

-

128,455
NET ASSETS 1,820,371 1,778,961

CAPITAL AND RESERVES
Called up share capital 3,500 3,500
Retained earnings 1,816,871 1,775,461
SHAREHOLDERS' FUNDS 1,820,371 1,778,961

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

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

Hill Associates (Finance) Limited (Registered number: 03711087)

Balance Sheet - continued
31 July 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 23 April 2024 and were signed by:





J D Hill - Director


Hill Associates (Finance) Limited (Registered number: 03711087)

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

1. STATUTORY INFORMATION

Hill Associates (Finance) 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.

Fee and commission income
The Company earns fee and commission income from services provided to clients. Fee income can be divided in to two broad categories; fees earned from services that are provided over a period of time, which are recognised over the period in which the service is provided; and fees that are earned on completion of an event, which are recognised when the event occurs.

Where other operating income is generated this is recognised in the period it arises.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term
instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently at the present value of the future payments discounted at a market rate of interest for
a similar debt instrument.

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.


Hill Associates (Finance) Limited (Registered number: 03711087)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

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.

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.

Finance lease receivables
Assets held under lessor finance leases are recognised as a financial asset, presenting them as receivables at an amount equal to the net investment in the lease. Subsequently, payments of capital relating to the period are applied against the receivable and the finance income is recognised using the effective interest method reflecting a constant periodic rate of return on the lessor's net investment in the finance lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 15,095 7,976 23,071
DEPRECIATION
At 1 August 2022 15,095 7,865 22,960
Charge for year - 111 111
At 31 July 2023 15,095 7,976 23,071
NET BOOK VALUE
At 31 July 2023 - - -
At 31 July 2022 - 111 111

Hill Associates (Finance) Limited (Registered number: 03711087)

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

5. DEBTORS
31.7.23 31.7.22
£    £   
Amounts falling due within one year:
Trade debtors 453 679
Amounts receivable in respect of finance
leases

165,254

215,085
Amounts receivable in respect of hire
purchase contracts

594,580

750,121
Other debtors 26,623 34,590
786,910 1,000,475

Amounts falling due after more than one year:
Amounts receivable in respect of finance
leases

84,732

216,428
Amounts receivable in respect of hire
purchase contracts

304,665

962,352
Other debtors - 1,402
389,397 1,180,182

Aggregate amounts 1,176,307 2,180,657

6. CURRENT ASSET INVESTMENTS
31.7.23 31.7.22
£    £   
Unlisted investments 3,500 5,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts - 76,287
Trade creditors 4,237 7,036
Taxation and social security 81,500 86,720
Other creditors 64,191 290,298
149,928 460,341

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans - 52,778
Other creditors - 75,677
- 128,455

Hill Associates (Finance) Limited (Registered number: 03711087)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans - 129,065
Other loans - 234,246
- 363,311