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REGISTERED NUMBER: 04525082 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 March 2024

for

Hilo Cleaning Limited

Hilo Cleaning Limited (Registered number: 04525082)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Hilo Cleaning Limited

Company Information
For The Year Ended 31 March 2024







DIRECTORS: G R Stanley
J I Morgan





SECRETARY: K J Stanley





REGISTERED OFFICE: Unit 10 Shaftesbury Industrial Estate
The Runnings
Cheltenham
United Kingdom
GL51 9NH





REGISTERED NUMBER: 04525082 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Hilo Cleaning Limited (Registered number: 04525082)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 196,778 220,071
196,778 220,071

CURRENT ASSETS
Debtors 404,876 602,242
Cash at bank and in hand 189,564 122,536
594,440 724,778
CREDITORS
Amounts falling due within one year 228,808 314,899
NET CURRENT ASSETS 365,632 409,879
TOTAL ASSETS LESS CURRENT
LIABILITIES

562,410

629,950

CREDITORS
Amounts falling due after more than one
year

(67,078

)

(94,928

)

PROVISIONS FOR LIABILITIES (34,886 ) (39,087 )
NET ASSETS 460,446 495,935

CAPITAL AND RESERVES
Called up share capital 70 70
Share premium 4,995 4,995
Capital redemption reserve 30 30
Retained earnings 455,351 490,840
SHAREHOLDERS' FUNDS 460,446 495,935

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Hilo Cleaning Limited (Registered number: 04525082)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





J I Morgan - Director


Hilo Cleaning Limited (Registered number: 04525082)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Hilo Cleaning Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Basic financial liabilities, including trade and other creditors are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year.

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.


Hilo Cleaning Limited (Registered number: 04525082)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 24 ) .

Hilo Cleaning Limited (Registered number: 04525082)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 201,132
AMORTISATION
At 1 April 2023
and 31 March 2024 201,132
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 692,424
Additions 48,538
Disposals (15,750 )
At 31 March 2024 725,212
DEPRECIATION
At 1 April 2023 472,353
Charge for year 64,226
Eliminated on disposal (8,145 )
At 31 March 2024 528,434
NET BOOK VALUE
At 31 March 2024 196,778
At 31 March 2023 220,071

Hilo Cleaning Limited (Registered number: 04525082)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 159,005
Additions 26,354
At 31 March 2024 185,359
DEPRECIATION
At 1 April 2023 48,596
Charge for year 34,191
At 31 March 2024 82,787
NET BOOK VALUE
At 31 March 2024 102,572
At 31 March 2023 110,409

6. RELATED PARTY DISCLOSURES

Included within other debtors is a director's loan account in the sum of £64,746 (2023 : £101,746). The account is unsecured, accrues interest at HM Revenue & Customs' official rate and was repaid after the year end.

Included within other debtors is a loan provided to Matt Bee Limited, a company in which the director has an interest, in the sum of £112,000 (2023: £160,000). The loan is unsecured, interest free and and carries no fixed date of repayment.