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REGISTERED NUMBER: 04981230 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 March 2024

for

Hills Electrical (South West) Ltd

Hills Electrical (South West) Ltd (Registered number: 04981230)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hills Electrical (South West) Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr S Lloyd





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY





REGISTERED NUMBER: 04981230 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Hills Electrical (South West) Ltd (Registered number: 04981230)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,949 7,775

CURRENT ASSETS
Stocks 5 71,995 60,833
Debtors 6 229,383 165,235
Cash at bank 21,834 16,657
323,212 242,725
CREDITORS
Amounts falling due within one year 7 (253,583 ) (209,356 )
NET CURRENT ASSETS 69,629 33,369
TOTAL ASSETS LESS CURRENT LIABILITIES 75,578 41,144

CREDITORS
Amounts falling due after more than one year 8 (16,333 ) (30,333 )

PROVISIONS FOR LIABILITIES (1,218 ) -
NET ASSETS 58,027 10,811

CAPITAL AND RESERVES
Called up share capital 9 9 9
Retained earnings 10 58,018 10,802
SHAREHOLDERS' FUNDS 58,027 10,811

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 3 December 2024 and were signed by:



Mr S Lloyd - Director


Hills Electrical (South West) Ltd (Registered number: 04981230)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Hills Electrical (South West) 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Hills Electrical (South West) Ltd (Registered number: 04981230)

Notes to the Financial Statements - continued
for the Year Ended 31 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 6 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 1,018 524 17,832 5,659 25,033
Disposals - - (4,495 ) - (4,495 )
At 31 March 2024 1,018 524 13,337 5,659 20,538
DEPRECIATION
At 1 April 2023 897 119 13,675 2,567 17,258
Charge for year 31 101 1,040 464 1,636
Eliminated on disposal - - (4,305 ) - (4,305 )
At 31 March 2024 928 220 10,410 3,031 14,589
NET BOOK VALUE
At 31 March 2024 90 304 2,927 2,628 5,949
At 31 March 2023 121 405 4,157 3,092 7,775

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 3,000 3,000
Work-in-progress 68,995 57,833
71,995 60,833

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 144,467 85,141
Other debtors 9,732 9,732
Directors' current accounts 44,973 47,923
Tax 17,389 18,372
VAT 9,627 2,629
Deferred tax asset - 1,438
Prepayments 3,195 -
229,383 165,235

Hills Electrical (South West) Ltd (Registered number: 04981230)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans 14,000 14,417
Trade creditors 134,182 117,091
Tax 16,194 1,446
Social security and other taxes 7,630 7,006
Other creditors 79,477 67,396
Accruals and deferred income - 2,000
Accrued expenses 2,100 -
253,583 209,356

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans - 1-2 years 14,000 14,000
Other loans - 2-5 years 2,333 16,333
16,333 30,333

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
3 Ordinary A £1 3 3
3 Ordinary B £1 3 3
3 Ordinary C £1 3 3
9 9

10. RESERVES
Retained
earnings
£   

At 1 April 2023 10,802
Profit for the year 54,216
Dividends (7,000 )
At 31 March 2024 58,018

Hills Electrical (South West) Ltd (Registered number: 04981230)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr S Lloyd
Balance outstanding at start of year 47,922 48,454
Amounts advanced 4,802 1,617
Amounts repaid (7,751 ) (2,149 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 44,973 47,922

The loan to the director is unsecured and repayable on demand. Interest is being charged at 2.25%.