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REGISTERED NUMBER: 07155678 (England and Wales)
























Unaudited Financial Statements for the Year Ended 28 February 2024

for

Hilton Cannon Electrical Ltd

Hilton Cannon Electrical Ltd (Registered number: 07155678)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hilton Cannon Electrical Ltd

Company Information
for the Year Ended 28 February 2024







DIRECTORS: K C Ellington
J N Gorensweigh
A K Potter





REGISTERED OFFICE: Nova House
103/105 High Street
Arnold
Nottingham
NG5 7DS





REGISTERED NUMBER: 07155678 (England and Wales)





ACCOUNTANTS: KD3 Accountancy Services Ltd
Apex House
7 Park Lane Business Centre
Basford
Nottingham
Nottinghamshire
NG6 0DW

Hilton Cannon Electrical Ltd (Registered number: 07155678)

Balance Sheet
28 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 54,940 71,200
Investments 5 174,743 174,743
229,683 245,943

CURRENT ASSETS
Stocks 6 (484,699 ) (476,610 )
Debtors 7 1,673,349 2,140,997
Cash at bank 2,631,770 1,797,407
3,820,420 3,461,794
CREDITORS
Amounts falling due within one year 8 1,622,486 2,056,952
NET CURRENT ASSETS 2,197,934 1,404,842
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,427,617

1,650,785

CREDITORS
Amounts falling due after more than one
year

9

(19,401

)

(24,561

)

PROVISIONS FOR LIABILITIES (13,539 ) (13,347 )
NET ASSETS 2,394,677 1,612,877

CAPITAL AND RESERVES
Called up share capital 58 58
Capital redemption reserve 42 42
Retained earnings 2,394,577 1,612,777
2,394,677 1,612,877

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Hilton Cannon Electrical Ltd (Registered number: 07155678)

Balance Sheet - continued
28 February 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 20 November 2024 and were signed on its behalf by:





K C Ellington - Director


Hilton Cannon Electrical Ltd (Registered number: 07155678)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Hilton Cannon Electrical Ltd 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 calculated as the proportion of total contract value with costs incurred to date compared to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Where the substance of a contract is that the contractual obligations are performed gradually over time,
revenue is recognised as contract activity progresses to reflect the partial performance of our contractual
obligations. The amount of revenue included reflects the accrual of the right to consideration as contract
activity progresses by reference to value of the work performed.

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
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.

Hilton Cannon Electrical Ltd (Registered number: 07155678)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 11,006 208,262 219,268
Additions - 2,102 2,102
At 28 February 2024 11,006 210,364 221,370
DEPRECIATION
At 1 March 2023 11,006 137,062 148,068
Charge for year - 18,362 18,362
At 28 February 2024 11,006 155,424 166,430
NET BOOK VALUE
At 28 February 2024 - 54,940 54,940
At 28 February 2023 - 71,200 71,200

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 28 February 2024 174,743
NET BOOK VALUE
At 28 February 2024 174,743
At 28 February 2023 174,743

6. STOCKS
2024 2023
£    £   
Payments on account (484,699 ) (476,610 )

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,222,196 1,703,417
Amounts recoverable on contract 166,383 120,599
Other debtors 284,770 316,981
1,673,349 2,140,997

Hilton Cannon Electrical Ltd (Registered number: 07155678)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,159 34,758
Trade creditors 1,172,243 1,772,452
Taxation and social security 353,431 153,141
Other creditors 91,653 96,601
1,622,486 2,056,952

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 19,401 24,561