Hillersden Limited 02706812 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of selling and distribution of orthodontic equipment Digita Accounts Production Advanced 6.30.9574.0 true 02706812 2023-07-01 2024-06-30 02706812 2024-06-30 02706812 core:CurrentFinancialInstruments 2024-06-30 02706812 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 02706812 core:FurnitureFittings 2024-06-30 02706812 core:MotorVehicles 2024-06-30 02706812 core:OtherPropertyPlantEquipment 2024-06-30 02706812 bus:SmallEntities 2023-07-01 2024-06-30 02706812 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 02706812 bus:FilletedAccounts 2023-07-01 2024-06-30 02706812 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02706812 bus:RegisteredOffice 2023-07-01 2024-06-30 02706812 bus:CompanySecretary1 2023-07-01 2024-06-30 02706812 bus:Director2 2023-07-01 2024-06-30 02706812 bus:Director3 2023-07-01 2024-06-30 02706812 bus:Director4 2023-07-01 2024-06-30 02706812 bus:Director5 2023-07-01 2024-06-30 02706812 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02706812 bus:Agent1 2023-07-01 2024-06-30 02706812 core:FurnitureFittings 2023-07-01 2024-06-30 02706812 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 02706812 core:MotorVehicles 2023-07-01 2024-06-30 02706812 core:OfficeEquipment 2023-07-01 2024-06-30 02706812 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 02706812 countries:EnglandWales 2023-07-01 2024-06-30 02706812 2023-06-30 02706812 core:FurnitureFittings 2023-06-30 02706812 core:MotorVehicles 2023-06-30 02706812 core:OtherPropertyPlantEquipment 2023-06-30 02706812 2022-07-01 2023-06-30 02706812 2023-06-30 02706812 core:CurrentFinancialInstruments 2023-06-30 02706812 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 02706812 core:FurnitureFittings 2023-06-30 02706812 core:MotorVehicles 2023-06-30 02706812 core:OtherPropertyPlantEquipment 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 02706812

Hillersden Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Hillersden Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Hillersden Limited

Company Information

Directors

Mr D Rees

Mrs P A Rees

Mr C T Rees

Miss C Rees

Company secretary

Mrs P A Rees

Registered office

The Old Church
Collins Street
Avonmouth
Bristol
BS11 9JJ

Accountants

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hillersden Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hillersden Limited for the year ended 30 June 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Hillersden Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hillersden Limited and state those matters that we have agreed to state to the Board of Directors of Hillersden Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hillersden Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hillersden Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hillersden Limited. You consider that Hillersden Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Hillersden Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

30 September 2024

 

Hillersden Limited

(Registration number: 02706812)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,814

23,812

Current assets

 

Stocks

5

755,613

728,022

Debtors

6

444,203

364,042

Investments

7

2

2

Cash at bank and in hand

 

753,326

676,024

 

1,953,144

1,768,090

Creditors: Amounts falling due within one year

8

(372,143)

(347,172)

Net current assets

 

1,581,001

1,420,918

Total assets less current liabilities

 

1,597,815

1,444,730

Provisions for liabilities

(2,467)

(3,834)

Net assets

 

1,595,348

1,440,896

Capital and reserves

 

Called up share capital

4,290

4,290

Capital redemption reserve

1,610

1,610

Retained earnings

1,589,448

1,434,996

Shareholders' funds

 

1,595,348

1,440,896

For the financial year ending 30 June 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.

 

Hillersden Limited

(Registration number: 02706812)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 30 September 2024 and signed on its behalf by:
 

.........................................
Mr D Rees
Director

.........................................
Mrs P A Rees
Director

.........................................
Mr C T Rees
Director

.........................................
Miss C Rees
Director

 

Hillersden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
The Old Church
Collins Street
Avonmouth
Bristol
BS11 9JJ

These financial statements were authorised for issue by the Board on 30 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.

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.

 

Hillersden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment & plant & machinery

25% straight line

 

Hillersden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Fixtures & fittings

25% straight line

Motor vehicles

25% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Hillersden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

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 22 (2023 - 21).

 

Hillersden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Other tangible assets
 £

Total
£

Cost or valuation

At 1 July 2023

25,604

14,950

183,187

223,741

Additions

1,358

-

499

1,857

At 30 June 2024

26,962

14,950

183,686

225,598

Depreciation

At 1 July 2023

25,351

14,950

159,628

199,929

Charge for the year

445

-

8,410

8,855

At 30 June 2024

25,796

14,950

168,038

208,784

Carrying amount

At 30 June 2024

1,166

-

15,648

16,814

At 30 June 2023

253

-

23,559

23,812

5

Stocks

2024
£

2023
£

Other inventories

755,613

728,022

6

Debtors

Current

2024
£

2023
£

Trade debtors

444,203

364,042

 

444,203

364,042

7

Current asset investments

2024
£

2023
£

Other investments

2

2

 

Hillersden Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

132,076

139,045

Taxation and social security

226,689

194,749

Accruals and deferred income

2,300

2,300

Other creditors

11,078

11,078

372,143

347,172