Hillswood Services Ltd (Formerly Barry Morgan Limited) 11143738 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of general builders and property maintenance. Digita Accounts Production Advanced 6.30.9574.0 true true 11143738 2023-04-01 2024-03-31 11143738 2024-03-31 11143738 core:CurrentFinancialInstruments 2024-03-31 11143738 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11143738 core:FurnitureFittingsToolsEquipment 2024-03-31 11143738 bus:SmallEntities 2023-04-01 2024-03-31 11143738 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11143738 bus:FilletedAccounts 2023-04-01 2024-03-31 11143738 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11143738 bus:RegisteredOffice 2023-04-01 2024-03-31 11143738 bus:Director1 2023-04-01 2024-03-31 11143738 bus:Director2 2023-04-01 2024-03-31 11143738 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11143738 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 11143738 core:OfficeEquipment 2023-04-01 2024-03-31 11143738 countries:EnglandWales 2023-04-01 2024-03-31 11143738 2023-03-31 11143738 core:FurnitureFittingsToolsEquipment 2023-03-31 11143738 2022-04-01 2023-03-31 11143738 2023-03-31 11143738 core:CurrentFinancialInstruments 2023-03-31 11143738 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11143738 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 11143738

Hillswood Services Ltd (Formerly Barry Morgan Limited)

Unaudited Financial Statements

for the Year Ended 31 March 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Hillswood Services Ltd (Formerly Barry Morgan Limited)

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Hillswood Services Ltd (Formerly Barry Morgan Limited)

Company Information

Directors

J H Crehan

M C O'Brien

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Hillswood Services Ltd (Formerly Barry Morgan Limited)

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,564

4,265

Current assets

 

Debtors

5

2,153,781

2,728,859

Cash at bank and in hand

 

2,627,859

2,033,737

 

4,781,640

4,762,596

Creditors: Amounts falling due within one year

6

(3,565,858)

(3,658,200)

Net current assets

 

1,215,782

1,104,396

Total assets less current liabilities

 

1,221,346

1,108,661

Provisions for liabilities

(1,153)

(795)

Net assets

 

1,220,193

1,107,866

Capital and reserves

 

Called up share capital

4

4

Retained earnings

1,220,189

1,107,862

Shareholders' funds

 

1,220,193

1,107,866

For the financial year ending 31 March 2024 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Hillswood Services Ltd (Formerly Barry Morgan Limited)

Statement of Financial Position as at 31 March 2024

Approved and authorised by the Board on 28 August 2024 and signed on its behalf by:
 

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

J H Crehan

Director

Company registration number: 11143738

 

Hillswood Services Ltd (Formerly Barry Morgan Limited)

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

1

General information

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

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of general builders and property maintenance.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 March 2024 and had net assets at that date amounting to £1,220,193, including cash at bank of £2,627,859.

After making enquiries, the directors have a reasonable expectation that the company had adequate resources to continue in existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

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

The company recognises revenue based upon the stage of completion of contractual work.

 

Hillswood Services Ltd (Formerly Barry Morgan Limited)

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting
period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other
comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or
directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the
amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and
other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the
reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Equipment, plant and machinery

33% straight line

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.

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.

 

Hillswood Services Ltd (Formerly Barry Morgan Limited)

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

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.

3

Staff numbers

The average number of persons employed by the company during the year was 10 (2023 - 10).

4

Tangible assets

Equipment, plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

5,037

5,037

Additions

3,045

3,045

At 31 March 2024

8,082

8,082

Depreciation

At 1 April 2023

772

772

Charge for the year

1,746

1,746

At 31 March 2024

2,518

2,518

Carrying amount

At 31 March 2024

5,564

5,564

At 31 March 2023

4,265

4,265

 

Hillswood Services Ltd (Formerly Barry Morgan Limited)

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

5

Debtors

2024
£

2023
£

Trade debtors

1,346,105

2,394,130

Amounts owed by group undertakings

496,885

-

Other debtors

310,791

334,729

2,153,781

2,728,859

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

706,438

554,775

Taxation and social security

754,440

726,141

Accruals and deferred income

2,094,217

2,371,000

Other creditors

10,763

6,284

3,565,858

3,658,200

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £19,696 (2023 - £Nil).

8

Related party transactions

Exemption is taken under FRS102 para IAC.35 not to disclose transactions or amounts falling due with companies wholly owned within the group.