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Registration number: 06493682

J.T.S. Hill Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 October 2023

 

J.T.S. Hill Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Abridged Balance Sheet

4 to 5

Notes to the Abridged Financial Statements

6 to 10

 

J.T.S. Hill Limited

Company Information

Directors

Mr Samuel Paul Hill

Mr Thomas Jonathan Hill

Mr Paul Jonathan Hill

Mrs Marie-Eugenie Hill

Company secretary

Mrs Marie-Eugenie Hill

Registered office

23 Church Street
Rickmansworth
Hertfordshire
WD3 1DE

Accountants

Smith-Milne & Co. Limited
Chartered Certified Accountants
23 Church Street
Rickmansworth
Hertfordshire
WD3 1DE

 

J.T.S. Hill Limited

Directors' Report for the Year Ended 31 October 2023

Approved and authorised by the Board on 9 July 2024 and signed on its behalf by:
 

.........................................
Mr Paul Jonathan Hill
Director

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
J.T.S. Hill Limited
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of J.T.S. Hill Limited for the year ended 31 October 2023 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of J.T.S. Hill Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of J.T.S. Hill Limited and state those matters that we have agreed to state to the Board of Directors of J.T.S. Hill Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J.T.S. Hill Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that J.T.S. Hill Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of J.T.S. Hill Limited. You consider that J.T.S. Hill 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 accounts of J.T.S. Hill 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 accounts.

......................................

Smith-Milne & Co. Limited
Chartered Certified Accountants
23 Church Street
Rickmansworth
Hertfordshire
WD3 1DE

9 July 2024

 

J.T.S. Hill Limited

(Registration number: 06493682)
Abridged Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

437,438

454,531

Current assets

 

Stocks

6

106,488

96,996

Debtors

7

1,538,598

1,843,052

Cash at bank and in hand

 

705,639

527,152

 

2,350,725

2,467,200

Creditors: Amounts falling due within one year

(1,523,538)

(1,767,431)

Net current assets

 

827,187

699,769

Total assets less current liabilities

 

1,264,625

1,154,300

Accruals and deferred income

 

(15,000)

(12,000)

Net assets

 

1,249,625

1,142,300

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,249,525

1,142,200

Shareholders' funds

 

1,249,625

1,142,300

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 July 2024 and signed on its behalf by:
 

 

J.T.S. Hill Limited

(Registration number: 06493682)
Abridged Balance Sheet as at 31 October 2023

.........................................
Mr Paul Jonathan Hill
Director

 

J.T.S. Hill Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
23 Church Street
Rickmansworth
Hertfordshire
WD3 1DE
England

These financial statements were authorised for issue by the Board on 9 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

J.T.S. Hill Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and building

10% on cost

Plant and machinery etc

33% on cost and 25% on reducing balance

Goodwill

Goodwill,being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

J.T.S. Hill Limited

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

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

J.T.S. Hill Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 25).

4

Intangible assets

Total
£

Cost or valuation

At 1 November 2022

88,000

At 31 October 2023

88,000

Amortisation

At 1 November 2022

88,000

At 31 October 2023

88,000

Carrying amount

At 31 October 2023

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

432,197

316,818

173,431

922,446

Additions

-

-

98,000

98,000

At 31 October 2023

432,197

316,818

271,431

1,020,446

Depreciation

At 1 November 2022

165,159

233,384

69,372

467,915

Charge for the year

43,220

20,858

51,015

115,093

At 31 October 2023

208,379

254,242

120,387

583,008

Carrying amount

At 31 October 2023

223,818

62,576

151,044

437,438

At 31 October 2022

267,038

83,434

104,059

454,531

Included within the net book value of land and buildings above is £223,818 (2022 - £267,038) in respect of short leasehold land and buildings.
 

 

J.T.S. Hill Limited

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

6

Stocks

2023
£

2022
£

Other inventories

106,488

96,996

7

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

80

80

80

80

Ordinary B of £1 each

10

10

10

10

Ordinary C of £1 each

10

10

10

10

 

100

100

100

100