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Registration number: 07960287

Hill & Hulme Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Hill & Hulme Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Hill & Hulme Limited

Company Information

Directors

Mr R L Hulme

Mr T M Hill

Registered office

High Ridge Farm
Chalk Hill
Soberton
Southampton
Hampshire
SO32 3PH

Accountants

A J Wheeler Ltd - Trading as Howard Smith & Co
Chartered Certified Accountants
338 London Road
Portsmouth
Hampshire
PO2 9JY

 

Hill & Hulme Limited

(Registration number: 07960287)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

126,013

90,928

Current assets

 

Stocks

5

20,000

40,000

Debtors

6

1,296,907

901,944

Cash at bank and in hand

 

235,006

158,169

 

1,551,913

1,100,113

Creditors: Amounts falling due within one year

7

(496,757)

(51,587)

Net current assets

 

1,055,156

1,048,526

Total assets less current liabilities

 

1,181,169

1,139,454

Provisions for liabilities

(16,117)

(9,426)

Net assets

 

1,165,052

1,130,028

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,164,952

1,129,928

Shareholders' funds

 

1,165,052

1,130,028

For the financial year ending 31 December 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.

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 2 September 2024 and signed on its behalf by:
 

 

Hill & Hulme Limited

(Registration number: 07960287)
Balance Sheet as at 31 December 2023

.........................................
Mr R L Hulme
Director

.........................................
Mr T M Hill
Director

 

Hill & Hulme Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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:
High Ridge Farm
Chalk Hill
Soberton
Southampton
Hampshire
SO32 3PH

These financial statements were authorised for issue by the Board on 2 September 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 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 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 and deferred 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.

 

Hill & Hulme Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on reducing balance

Motor vehicles

15% on reducing balance

Property improvements

5% to 15% on reducing balance

Stocks

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

The cost of 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 (including directors) during the year, was 6 (2022 - 6).

 

Hill & Hulme Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Improvements, fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

87,914

54,983

142,897

Additions

36,652

9,996

46,648

At 31 December 2023

124,566

64,979

189,545

Depreciation

At 1 January 2023

20,483

31,486

51,969

Charge for the year

6,540

5,023

11,563

At 31 December 2023

27,023

36,509

63,532

Carrying amount

At 31 December 2023

97,543

28,470

126,013

At 31 December 2022

67,431

23,497

90,928

 

Hill & Hulme Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

stocks

2023
£

2022
£

Other inventories

20,000

40,000

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

627,103

262,923

Amounts owed by related parties

8

617,425

617,425

Prepayments

 

11,555

9,969

Other debtors

 

40,824

11,627

   

1,296,907

901,944

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

431,831

16,366

Taxation and social security

59,426

27,384

Accruals and deferred income

5,500

7,837

496,757

51,587

8

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

18,000

18,044

9

Parent and ultimate parent undertaking

The company's immediate parent is H H Plant Limited, incorporated in England and Wales.

 The ultimate controlling party is the directors, who are also the shareholders of the parent company..