Company Registration No. 05635128 (England and Wales)
Hill House Interiors Limited
Unaudited accounts
for the year ended 31 December 2023
Hill House Interiors Limited
Unaudited accounts
Contents
Hill House Interiors Limited
Company Information
for the year ended 31 December 2023
Directors
Jennifer Bernadette Weiss
Helen Jane Bygraves
Company Number
05635128 (England and Wales)
Registered Office
32-34 Baker Street
Weybridge
KT13 8AU
England
Accountants
P10 Accountancy Ltd
77A Richmond Road
Twickenham
TW1 3AW
Hill House Interiors Limited
Statement of financial position
as at 31 December 2023
Intangible assets
6,500
9,750
Tangible assets
158,382
206,759
Inventories
733,028
491,987
Cash at bank and in hand
1,175,781
1,224,969
Creditors: amounts falling due within one year
(748,761)
(472,547)
Net current assets
1,952,275
1,609,954
Total assets less current liabilities
2,117,157
1,826,463
Creditors: amounts falling due after more than one year
(60,000)
(95,492)
Provisions for liabilities
Deferred tax
(37,320)
(37,320)
Net assets
2,019,837
1,693,651
Called up share capital
100
100
Profit and loss account
2,019,737
1,693,551
Shareholders' funds
2,019,837
1,693,651
For the 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. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by
Helen Jane Bygraves
Director
Company Registration No. 05635128
Hill House Interiors Limited
Notes to the Accounts
for the year ended 31 December 2023
Hill House Interiors Limited is a private company, limited by shares, registered in England and Wales, registration number 05635128. The registered office is 32-34 Baker Street, Weybridge, KT13 8AU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% Straight Line
Motor vehicles
20% Straight Line
Fixtures & fittings
20% Straight Line
Computer equipment
20% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Stock has been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Hill House Interiors Limited
Notes to the Accounts
for the year ended 31 December 2023
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.
The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
At 31 December 2023
65,000
At 31 December 2023
58,500
Hill House Interiors Limited
Notes to the Accounts
for the year ended 31 December 2023
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
154,392
47,937
264,015
124,051
590,395
Additions
2,026
-
15,741
15,919
33,686
At 31 December 2023
156,418
47,937
279,756
139,970
624,081
At 1 January 2023
50,791
26,310
203,560
102,975
383,636
Charge for the year
31,149
9,588
31,245
10,081
82,063
At 31 December 2023
81,940
35,898
234,805
113,056
465,699
At 31 December 2023
74,478
12,039
44,951
26,914
158,382
At 31 December 2022
103,601
21,627
60,455
21,076
206,759
Amounts falling due within one year
Trade debtors
79,663
183,295
Accrued income and prepayments
156,285
72,374
Other debtors
29,659
73,791
Amounts falling due after more than one year
Other debtors
526,620
36,085
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
40,000
54,939
Trade creditors
474,345
294,572
Taxes and social security
52,167
49,869
8
Creditors: amounts falling due after more than one year
2023
2022
9
Average number of employees
During the year the average number of employees was 34 (2022: 29).