Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 10606126 Mr Clifford Hilton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10606126 2023-02-28 10606126 2024-02-29 10606126 2023-03-01 2024-02-29 10606126 frs-core:CurrentFinancialInstruments 2024-02-29 10606126 frs-core:Non-currentFinancialInstruments 2024-02-29 10606126 frs-core:ComputerEquipment 2024-02-29 10606126 frs-core:ComputerEquipment 2023-03-01 2024-02-29 10606126 frs-core:ComputerEquipment 2023-02-28 10606126 frs-core:FurnitureFittings 2024-02-29 10606126 frs-core:FurnitureFittings 2023-03-01 2024-02-29 10606126 frs-core:FurnitureFittings 2023-02-28 10606126 frs-core:PlantMachinery 2024-02-29 10606126 frs-core:PlantMachinery 2023-03-01 2024-02-29 10606126 frs-core:PlantMachinery 2023-02-28 10606126 frs-core:ShareCapital 2024-02-29 10606126 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 10606126 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10606126 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 10606126 frs-bus:SmallEntities 2023-03-01 2024-02-29 10606126 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 10606126 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10606126 frs-bus:Director1 2023-03-01 2024-02-29 10606126 frs-bus:Director1 2023-02-28 10606126 frs-bus:Director1 2024-02-29 10606126 frs-core:CurrentFinancialInstruments 1 2024-02-29 10606126 frs-core:CurrentFinancialInstruments 2 2024-02-29 10606126 frs-core:CurrentFinancialInstruments 3 2024-02-29 10606126 frs-countries:EnglandWales 2023-03-01 2024-02-29 10606126 2022-02-28 10606126 2023-02-28 10606126 2022-03-01 2023-02-28 10606126 frs-core:CurrentFinancialInstruments 2023-02-28 10606126 frs-core:Non-currentFinancialInstruments 2023-02-28 10606126 frs-core:ShareCapital 2023-02-28 10606126 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 10606126 frs-core:CurrentFinancialInstruments 1 2023-02-28 10606126 frs-core:CurrentFinancialInstruments 2 2023-02-28 10606126 frs-core:CurrentFinancialInstruments 3 2023-02-28
Registered number: 10606126
Hilton Autobody Repairs Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
TaxAssist Accountants
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 10606126
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,984 2,693
1,984 2,693
CURRENT ASSETS
Debtors 5 38,822 35,339
Cash at bank and in hand 68,675 45,706
107,497 81,045
Creditors: Amounts Falling Due Within One Year 6 (54,823 ) (24,820 )
NET CURRENT ASSETS (LIABILITIES) 52,674 56,225
TOTAL ASSETS LESS CURRENT LIABILITIES 54,658 58,918
Creditors: Amounts Falling Due After More Than One Year 7 (8,558 ) (12,817 )
NET ASSETS 46,100 46,101
CAPITAL AND RESERVES
Called up share capital 8 1 1
Income Statement 46,099 46,100
SHAREHOLDERS' FUNDS 46,100 46,101
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Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Clifford Hilton
Director
29/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Hilton Autobody Repairs Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10606126 . The registered office is 7 Abbotts Ford Drive, Penyffordd, Wales, CH4 0JG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% RBM
Fixtures & Fittings 20% RBM
Computer Equipment 33.33% RBM
2.4. Taxation
Income 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 profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 2
1 2
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 2,118 299 3,122 5,539
As at 29 February 2024 2,118 299 3,122 5,539
Depreciation
As at 1 March 2023 695 311 1,840 2,846
Provided during the period 217 65 427 709
As at 29 February 2024 912 376 2,267 3,555
Net Book Value
As at 29 February 2024 1,206 (77 ) 855 1,984
As at 1 March 2023 1,423 (12 ) 1,282 2,693
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 648 -
Other debtors 1,416 1,416
Director's loan account 36,758 33,923
38,822 35,339
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,239 251
Corporation tax 14,307 11,130
VAT 2,755 -
Liberis Ltd 27,454 19,662
Iwoca Loan (3,687 ) (11,943 )
Credit Card 3,381 3,381
Accruals and deferred income 3,374 2,339
54,823 24,820
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,558 12,817
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Clifford Hilton 78,300 1,014 54,556 - 24,218
The above loan is unsecured, interest free and repayable on demand.
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