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REGISTERED NUMBER: 05497028 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

HILL FARM FURNITURE LIMITED

HILL FARM FURNITURE LIMITED (REGISTERED NUMBER: 05497028)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HILL FARM FURNITURE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: M Ashwin
C Ashwin





SECRETARY: C Ashwin





REGISTERED OFFICE: First Floor
49 High Street
Hucknall
Nottinghamshire
NG15 7AW





REGISTERED NUMBER: 05497028 (England and Wales)





ACCOUNTANTS: Elkingtons Accountants Limited
1st Floor
49 High Street
Hucknall
Nottinghamshire
NG15 7AW

HILL FARM FURNITURE LIMITED (REGISTERED NUMBER: 05497028)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,393 12,431
Tangible assets 5 148,262 75,861
155,655 88,292

CURRENT ASSETS
Stocks 49,196 57,256
Debtors 6 62,420 116,017
Cash at bank and in hand 61,261 66,859
172,877 240,132
CREDITORS
Amounts falling due within one year 7 187,360 226,975
NET CURRENT (LIABILITIES)/ASSETS (14,483 ) 13,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,172

101,449

CREDITORS
Amounts falling due after more than one
year

8

(36,578

)

(20,325

)

PROVISIONS FOR LIABILITIES (35,317 ) (13,266 )
NET ASSETS 69,277 67,858

CAPITAL AND RESERVES
Called up share capital 5,789 5,789
Capital redemption reserve 4,211 4,211
Retained earnings 59,277 57,858
69,277 67,858

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

HILL FARM FURNITURE LIMITED (REGISTERED NUMBER: 05497028)

BALANCE SHEET - continued
31ST MARCH 2024


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

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 30th October 2024 and were signed on its behalf by:





M Ashwin - Director


HILL FARM FURNITURE LIMITED (REGISTERED NUMBER: 05497028)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Hill Farm Furniture 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.

Website costs is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

HILL FARM FURNITURE LIMITED (REGISTERED NUMBER: 05497028)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued

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 9 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 50,000 7,693 57,693
AMORTISATION
At 1st April 2023 43,958 1,304 45,262
Charge for year 2,500 2,538 5,038
At 31st March 2024 46,458 3,842 50,300
NET BOOK VALUE
At 31st March 2024 3,542 3,851 7,393
At 31st March 2023 6,042 6,389 12,431

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 174,742
Additions 100,767
Disposals (38,995 )
At 31st March 2024 236,514
DEPRECIATION
At 1st April 2023 98,881
Charge for year 25,018
Eliminated on disposal (35,647 )
At 31st March 2024 88,252
NET BOOK VALUE
At 31st March 2024 148,262
At 31st March 2023 75,861

HILL FARM FURNITURE LIMITED (REGISTERED NUMBER: 05497028)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 52,004 99,445
Other debtors 10,416 16,572
62,420 116,017

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,000 4,000
Hire purchase contracts 22,851 4,956
Payments on account 72,457 104,183
Trade creditors 36,440 44,522
Taxation and social security 9,515 21,011
Other creditors 42,097 48,303
187,360 226,975

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,000 10,000
Hire purchase contracts 30,578 10,325
36,578 20,325