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Registration number: 05295680

Hills Delivery (Bristol) Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

Hills Delivery (Bristol) Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 10

 

Hills Delivery (Bristol) Limited

Company Information

Directors

C Nobbs

L A Waite

N Hill

Registered office

87 Feeder Road
St Phillips
Bristol
BS2 0TW

Accountants

G W Jones & Co
Accountant
Office 1 The Coach House
24-26 Station Road
Shirehampton
Bristol
BS11 9TX

 

Hills Delivery (Bristol) Limited

(Registration number: 05295680)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

358,826

425,895

Current assets

 

Stocks

5

2,500

2,500

Debtors

6

323,437

352,429

Cash at bank and in hand

 

25,511

42,018

 

351,448

396,947

Prepayments and accrued income

 

3,277

2,709

Creditors: Amounts falling due within one year

7

(443,704)

(463,226)

Net current liabilities

 

(88,979)

(63,570)

Total assets less current liabilities

 

269,847

362,325

Creditors: Amounts falling due after more than one year

8

(72,626)

(130,864)

Provisions for liabilities

(48,606)

(41,950)

Accruals and deferred income

 

(42,581)

(43,709)

Net assets

 

106,034

145,802

Capital and reserves

 

Called up share capital

9

150

150

Retained earnings

105,884

145,652

Shareholders' funds

 

106,034

145,802

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.

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 Profit and Loss Account has been taken.

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.

 

Hills Delivery (Bristol) Limited

(Registration number: 05295680)
Abridged Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 3 September 2024 and signed on its behalf by:
 

.........................................
L A Waite
Director

 

Hills Delivery (Bristol) Limited

Notes to the Unaudited Abridged 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:
87 Feeder Road
St Phillips
Bristol
BS2 0TW

These financial statements were authorised for issue by the Board on 3 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 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.

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 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.

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.

 

Hills Delivery (Bristol) Limited

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

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

Plant and machinery

25% on reducing balance

Motor vehicles

20-25% on reducing balance

Property improvements

Not depreciated

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.

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

 

Hills Delivery (Bristol) Limited

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

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 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2023 - 20).

 

Hills Delivery (Bristol) Limited

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

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

73,410

1,183,635

69,046

1,326,091

Additions

-

-

35,018

35,018

Disposals

-

(58,304)

-

(58,304)

At 31 March 2024

73,410

1,125,331

104,064

1,302,805

Depreciation

At 1 April 2023

-

834,505

65,691

900,196

Charge for the year

-

86,073

7,403

93,476

Eliminated on disposal

-

(49,693)

-

(49,693)

At 31 March 2024

-

870,885

73,094

943,979

Carrying amount

At 31 March 2024

73,410

254,446

30,970

358,826

At 31 March 2023

73,410

349,130

3,355

425,895

Included within the net book value of land and buildings above is £73,410 (2023 - £73,410) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

2,500

2,500

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £275,709 (2023 -£294,110)

8

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £72,626 (2023 - £130,864)

 

Hills Delivery (Bristol) Limited

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

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary 'A' class shares of £1 each

100

100

100

100

Ordinary 'B' class shares of £1 each

50

50

50

50

 

150

150

150

150

10

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £60.00 per each Ordinary A

 

6,000

 

6,000

         

11

Related party transactions

 

Hills Delivery (Bristol) Limited

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

Transactions with directors

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

C Nobbs

Overdrawn loan account

2,620

(2,620)

-

       
     

 

2023

At 1 April 2022
£

Repayments by director
£

At 31 March 2023
£

C Nobbs

Overdrawn loan account

8,597

(5,977)

2,620

       
     

 

 

Hills Delivery (Bristol) Limited

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

130,250

124,250

Contributions paid to money purchase schemes

2,694

2,642

132,944

126,892