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REGISTERED NUMBER: 07626207 (England and Wales)














Hiltons Distribution Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023






Hiltons Distribution Limited (Registered number: 07626207)

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










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 5


Hiltons Distribution Limited

Company Information
for the Year Ended 31 October 2023







Directors: P B Hilton
Mrs R J Hilton





Registered office: Red House Farm
Baston Fen
Peterborough
Cambridgeshire
PE6 9PT





Registered number: 07626207 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Hiltons Distribution Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hiltons Distribution Limited for the year ended 31 October 2023 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hiltons Distribution Limited, as a body, in accordance with the terms of our engagement letter dated 15 November 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Hiltons Distribution Limited and state those matters that we have agreed to state to the Board of Directors of Hiltons Distribution Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hiltons Distribution Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hiltons Distribution Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hiltons Distribution Limited. You consider that Hiltons Distribution Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hiltons Distribution Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


31 January 2024

Hiltons Distribution Limited (Registered number: 07626207)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 5 260,000 292,500
Tangible assets 6 499,742 390,138
759,742 682,638

Current assets
Stocks 23,550 23,550
Debtors 7 1,821,662 2,792,286
Cash at bank 2,933,756 2,125,016
4,778,968 4,940,852
Creditors
Amounts falling due within one year 8 379,951 691,855
Net current assets 4,399,017 4,248,997
Total assets less current liabilities 5,158,759 4,931,635

Provisions for liabilities 124,936 74,126
Net assets 5,033,823 4,857,509

Capital and reserves
Called up share capital 9 100 100
Retained earnings 5,033,723 4,857,409
Shareholders' funds 5,033,823 4,857,509

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 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.

Hiltons Distribution Limited (Registered number: 07626207)

Statement of Financial Position - 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 Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:




P B Hilton - Director



Mrs R J Hilton - Director


Hiltons Distribution Limited (Registered number: 07626207)

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


1. Statutory information

Hiltons Distribution 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. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

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.

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 - 5 years straight line
Motor vehicles - 4 years straight line and 5 years straight line

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

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 statement of financial position date.


Hiltons Distribution Limited (Registered number: 07626207)

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 statement of financial position 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.

4. Employees and directors

The average number of employees during the year was 38 (2022 - 40 ) .

5. Intangible fixed assets
Goodwill
£   
Cost
At 1 November 2022
and 31 October 2023 650,000
Amortisation
At 1 November 2022 357,500
Amortisation for year 32,500
At 31 October 2023 390,000
Net book value
At 31 October 2023 260,000
At 31 October 2022 292,500

Hiltons Distribution Limited (Registered number: 07626207)

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


6. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 November 2022 50,394 980,893 1,031,287
Additions 18,015 356,000 374,015
Disposals - (129,000 ) (129,000 )
At 31 October 2023 68,409 1,207,893 1,276,302
Depreciation
At 1 November 2022 47,217 593,932 641,149
Charge for year 7,648 160,013 167,661
Eliminated on disposal - (32,250 ) (32,250 )
At 31 October 2023 54,865 721,695 776,560
Net book value
At 31 October 2023 13,544 486,198 499,742
At 31 October 2022 3,177 386,961 390,138

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 1,641,568 2,639,686
Prepayments and accrued income 180,094 152,600
1,821,662 2,792,286

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 189,048 120,166
Amounts owed to group undertakings 13,464 3,452
Tax 79,216 344,735
Social security and other taxes 34,218 30,232
VAT 58,579 188,219
Accruals and deferred income 5,426 5,051
379,951 691,855

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

Hiltons Distribution Limited (Registered number: 07626207)

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


10. Ultimate controlling party

The company's parent undertaking is Hilton Holdings Limited, a company registered in England and Wales. The registered office of the parent undertaking is Bank House, Broad Street, Spalding, Lincolnshire, PE11 1TB