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Company No: 04651968 (England and Wales)

HILLSIDE PRODUCT DESIGN LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

HILLSIDE PRODUCT DESIGN LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

HILLSIDE PRODUCT DESIGN LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
HILLSIDE PRODUCT DESIGN LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Mr C Howsam
SECRETARY Mrs L Howsam
REGISTERED OFFICE Sigma House
Oak View Close
Torquay
TQ2 7FF
England
United Kingdom
COMPANY NUMBER 04651968 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
HILLSIDE PRODUCT DESIGN LIMITED

BALANCE SHEET

As at 31 March 2024
HILLSIDE PRODUCT DESIGN LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 400 600
Tangible assets 4 93 183
493 783
Current assets
Debtors
- due within one year 5 20,860 71,647
- due after more than one year 5 1,943 2,000
Cash at bank and in hand 2,115 33,120
24,918 106,767
Creditors: amounts falling due within one year 6 ( 10,742) ( 26,336)
Net current assets 14,176 80,431
Total assets less current liabilities 14,669 81,214
Provision for liabilities ( 39) ( 46)
Net assets 14,630 81,168
Capital and reserves
Called-up share capital 7 3 3
Profit and loss account 14,627 81,165
Total shareholders' funds 14,630 81,168

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.

Director's responsibilities:

The financial statements of Hillside Product Design Limited (registered number: 04651968) were approved and authorised for issue by the Director on 27 August 2024. They were signed on its behalf by:

Mr C Howsam
Director
HILLSIDE PRODUCT DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
HILLSIDE PRODUCT DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hillside Product Design Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House, Oak View Close, Torquay, TQ2 7FF, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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.

The company recognises revenue based on its value of the service provided to date.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 4 years straight line
Fixtures and fittings 4 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

Basic financial assets comprise short term trade and other debtors and cash and bank balances. Basic financial liabilities comprise short term trade and other creditors. Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 6

3. Intangible assets

Development costs Total
£ £
Cost
At 01 April 2023 2,000 2,000
At 31 March 2024 2,000 2,000
Accumulated amortisation
At 01 April 2023 1,400 1,400
Charge for the financial year 200 200
At 31 March 2024 1,600 1,600
Net book value
At 31 March 2024 400 400
At 31 March 2023 600 600

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 417 6,091 7,761 62,374 76,643
Additions 0 0 0 99 99
Disposals 0 ( 6,091) ( 6,943) ( 35,968) ( 49,002)
At 31 March 2024 417 0 818 26,505 27,740
Accumulated depreciation
At 01 April 2023 417 6,091 7,686 62,266 76,460
Charge for the financial year 0 0 56 70 126
Disposals 0 ( 6,091) ( 6,943) ( 35,905) ( 48,939)
At 31 March 2024 417 0 799 26,431 27,647
Net book value
At 31 March 2024 0 0 19 74 93
At 31 March 2023 0 0 75 108 183

5. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 11,482 36,908
Corporation tax 0 11,912
Other debtors 9,378 22,827
20,860 71,647
Debtors: amounts falling due after more than one year
Trade debtors 1,943 2,000

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other taxation and social security 3,136 14,624
Other creditors 7,606 11,712
10,742 26,336

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1
1 Ordinary A share of £ 1.00 1 1
1 Ordinary B share of £ 1.00 1 1
3 3