HILLS NUMBERPLATES LIMITED

Company Registration Number:
08800141 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

HILLS NUMBERPLATES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

HILLS NUMBERPLATES LIMITED

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

The principal activities of the Company comprise the development, supply and manufacture of finished number plates, number plate components, related printing and embossing hardware and software. Many of the products supplied are subject to intellectual property rights owned by the Company or within its Group.



Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

R Laugharne
J Caine
R Taffinder


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
28 June 2024

And signed on behalf of the board by:
Name: R Laugharne
Status: Director

HILLS NUMBERPLATES LIMITED

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 11,710,760 11,235,680
Cost of sales: ( 8,846,360 ) ( 9,167,029 )
Gross profit(or loss): 2,864,400 2,068,651
Distribution costs: ( 675,149 ) ( 816,946 )
Administrative expenses: ( 2,305,493 ) ( 1,943,150 )
Other operating income: 225,600
Operating profit(or loss): (116,242) (465,845)
Interest receivable and similar income: 519,459 452,577
Interest payable and similar charges: ( 310,646 ) ( 222,140 )
Profit(or loss) before tax: 92,571 (235,408)
Tax: ( 21,531 ) ( 59,130 )
Profit(or loss) for the financial year: 71,040 (294,538)

HILLS NUMBERPLATES LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 729,395 1,315,823
Tangible assets: 4 1,231,977 1,206,581
Investments: 5 3,067,024 3,067,024
Total fixed assets: 5,028,396 5,589,428
Current assets
Stocks: 6 957,076 1,241,138
Debtors: 7 4,701,792 5,376,520
Cash at bank and in hand: 184,141 16,603
Total current assets: 5,843,009 6,634,261
Creditors: amounts falling due within one year: 8 ( 4,471,789 ) ( 5,342,019 )
Net current assets (liabilities): 1,371,220 1,292,242
Total assets less current liabilities: 6,399,616 6,881,670
Creditors: amounts falling due after more than one year: 9 ( 2,863,475 ) ( 3,433,587 )
Provision for liabilities: ( 357,564 ) ( 340,546 )
Total net assets (liabilities): 3,178,577 3,107,537
Capital and reserves
Called up share capital: 2,588,637 2,588,637
Profit and loss account: 589,940 518,900
Total Shareholders' funds: 3,178,577 3,107,537

The notes form part of these financial statements

HILLS NUMBERPLATES LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 28 June 2024
and signed on behalf of the board by:

Name: R Laugharne
Status: Director

The notes form part of these financial statements

HILLS NUMBERPLATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: -the Company has transferred the significant risks and rewards of ownership to the buyer; -the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; -the amount of revenue can be measured reliably; -it is probable that the Company will receive the consideration due under the transaction; and -the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method and reducing balance method. Depreciation is provided on the following basis: Long-term leasehold property - Over the term of the lease Plant and machinery - 15-33% reducing balance Fixtures and fittings - 15% reducing balance The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

    Intangible fixed assets amortisation policy

    Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis of 10 years to the Statement of Comprehensive Income over its useful economic life. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Other intangible assets are amortised on a straight-line basis over 10 years to the Statement of Comprehensive Income.

HILLS NUMBERPLATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 49 50

HILLS NUMBERPLATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2023 5,638,103 3,659,373 9,297,476
Additions
Disposals
Revaluations
Transfers
At 31 December 2023 5,638,103 3,659,373 9,297,476
Amortisation
At 1 January 2023 4,465,481 3,516,172 7,981,653
Charge for year 556,310 30,118 586,428
On disposals
Other adjustments
At 31 December 2023 5,021,791 3,546,290 8,568,081
Net book value
At 31 December 2023 616,312 113,083 729,395
At 31 December 2022 1,172,622 143,201 1,315,823

HILLS NUMBERPLATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 162,847 2,406,061 128,534 2,697,442
Additions 219,455 28,841 248,296
Disposals ( 162,847 ) ( 162,847 )
Revaluations
Transfers
At 31 December 2023 0 2,625,516 157,375 2,782,891
Depreciation
At 1 January 2023 156,046 1,241,021 93,794 1,490,861
Charge for year 4,988 182,068 34,031 221,087
On disposals ( 161,034 ) ( 161,034 )
Other adjustments
At 31 December 2023 0 1,423,089 127,825 1,550,914
Net book value
At 31 December 2023 0 1,202,427 29,550 1,231,977
At 31 December 2022 6,801 1,165,040 34,740 1,206,581

HILLS NUMBERPLATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Fixed assets investments note

Investments in subsidiary companies £ Cost At 1 January 2023 5,254,127 At 31 December 2023 5,254,127 Impairment At 1 January 2023 2,187,103 At 31 December 2023 2,187,103 Net book value At 31 December 2023 3,067,024 At 31 December 2022 3,067,024 Subsidiary undertakings The following were subsidiary undertakings of the Company: Name Country of incorporation Principal activity Holding Hills France SAS France Holding company 100% Faab Fabricauto SAS * France Manufacturing and sale of vehicle licence plates 100% Tiflex IM * France Manufacturing and sale of vehicle licence plates 100% HFPO * France Manufacturing and sale of vehicle licence plates 100% Utsch International Limited Ireland Manufacturing and sale of vehicle licence plates 100% Hills China Limited Hong Kong Sales of acrylic products 100% * Shares held by Hills France SAS

HILLS NUMBERPLATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Stocks

2023 2022
£ £
Stocks 957,076 1,241,138
Total 957,076 1,241,138

HILLS NUMBERPLATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Debtors

2023 2022
£ £
Trade debtors 1,739,710 2,004,751
Prepayments and accrued income 144,225 146,963
Other debtors 2,817,857 3,224,806
Total 4,701,792 5,376,520

HILLS NUMBERPLATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 2,376,813 2,544,685
Amounts due under finance leases and hire purchase contracts 148,888 14,158
Trade creditors 1,105,730 1,319,121
Taxation and social security 281,808 175,359
Accruals and deferred income 78,945 121,775
Other creditors 479,605 1,166,921
Total 4,471,789 5,342,019

HILLS NUMBERPLATES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

9. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 2,541,582 3,418,895
Amounts due under finance leases and hire purchase contracts 321,893 14,692
Total 2,863,475 3,433,587