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REGISTERED NUMBER: 10601700 (England and Wales)











Unaudited Financial Statements

for the Year Ended

31 March 2024

for

HILLS PETS LTD

HILLS PETS LTD (Registered number: 10601700)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HILLS PETS LTD

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Ms C Cross





REGISTERED OFFICE: 51-53 Bridge Street
Ramsbottom
Bury
Lancashire
BL0 9AD





REGISTERED NUMBER: 10601700 (England and Wales)





ACCOUNTANTS: Mosley & Co
14 Market Place
Ramsbottom
Bury
Lancashire
BL0 9HT

HILLS PETS LTD (Registered number: 10601700)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 18,151 24,200
Tangible assets 5 326,782 324,301
344,933 348,501

CURRENT ASSETS
Stocks 48,706 54,296
Debtors 6 1,223 2,286
Cash at bank and in hand 43,347 76,232
93,276 132,814
CREDITORS
Amounts falling due within one year 7 39,480 44,647
NET CURRENT ASSETS 53,796 88,167
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,729

436,668

CREDITORS
Amounts falling due after more than
one year

8

(449,556

)

(458,254

)

PROVISIONS FOR LIABILITIES 10 (3,000 ) (418 )
NET LIABILITIES (53,827 ) (22,004 )

HILLS PETS LTD (Registered number: 10601700)

Statement of Financial Position - continued
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (53,927 ) (22,104 )
SHAREHOLDERS' FUNDS (53,827 ) (22,004 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 27 August 2024 and were signed by:





Ms C Cross - Director


HILLS PETS LTD (Registered number: 10601700)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

HILLS PETS LTD 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.

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 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 2017, is being amortised evenly over its estimated useful life of ten 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.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on cost

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 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 statement of financial position date.


HILLS PETS LTD (Registered number: 10601700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 60,494
AMORTISATION
At 1 April 2023 36,294
Charge for year 6,049
At 31 March 2024 42,343
NET BOOK VALUE
At 31 March 2024 18,151
At 31 March 2023 24,200

HILLS PETS LTD (Registered number: 10601700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 366,022 35,614 401,636
Additions - 14,999 14,999
At 31 March 2024 366,022 50,613 416,635
DEPRECIATION
At 1 April 2023 43,921 33,414 77,335
Charge for year 7,320 5,198 12,518
At 31 March 2024 51,241 38,612 89,853
NET BOOK VALUE
At 31 March 2024 314,781 12,001 326,782
At 31 March 2023 322,101 2,200 324,301

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 1,223 2,286

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 23,957 29,799
Trade creditors 2,706 2,970
Taxation and social security 2,526 7,271
Other creditors 10,291 4,607
39,480 44,647

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 210,630 219,698
Other creditors 238,926 238,556
449,556 458,254

HILLS PETS LTD (Registered number: 10601700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.24 31.3.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 111,391 121,379

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 234,587 249,497

Creditors include bank loans which are secured of £207,147. The bank loans are secured by a fixed and floating charge over the company's assets. The bank loans are repayable by instalments of which £111,391 are due after five years.

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 3,000 418

Deferred
tax
£   
Balance at 1 April 2023 418
Provided during year 2,582
Balance at 31 March 2024 3,000

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

HILLS PETS LTD (Registered number: 10601700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. RESERVES
Retained
earnings
£   

At 1 April 2023 (22,104 )
Deficit for the year (31,823 )
At 31 March 2024 (53,927 )