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Registration number: 10135808

Hillswood Independent Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Hillswood Independent Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Hillswood Independent Ltd

(Registration number: 10135808)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

2,400

3,600

Tangible assets

5

37,719

21,068

 

40,119

24,668

Current assets

 

Debtors

6

86,797

94,917

Cash at bank and in hand

 

11,824

19,183

 

98,621

114,100

Creditors: Amounts falling due within one year

7

(37,105)

(31,149)

Net current assets

 

61,516

82,951

Total assets less current liabilities

 

101,635

107,619

Creditors: Amounts falling due after more than one year

7

(16,746)

(19,698)

Provisions for liabilities

(1,731)

(1,234)

Net assets

 

83,158

86,687

Capital and reserves

 

Called up share capital

100

100

Retained earnings

83,058

86,587

Shareholders' funds

 

83,158

86,687

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Hillswood Independent Ltd

(Registration number: 10135808)
Balance Sheet as at 30 April 2024

Director's 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 director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 January 2025
 

.........................................
Mr J L Gregory
Director

 

Hillswood Independent Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
64 Millrise Road
Milton
Stoke-On-Trent
Staffordshire
ST2 7DN
England

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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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.

 

Hillswood Independent Ltd

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

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

20% reducing balance basis

Leasehold property improvements

20 years straight line basis

Motor vehicles

20% reducing balance basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

over their useful life of five years

 

Hillswood Independent Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 the director) during the year, was 2 (2023 - 3).

 

Hillswood Independent Ltd

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

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 May 2023

6,000

6,000

At 30 April 2024

6,000

6,000

Amortisation

At 1 May 2023

2,400

2,400

Amortisation charge

1,200

1,200

At 30 April 2024

3,600

3,600

Carrying amount

At 30 April 2024

2,400

2,400

At 30 April 2023

3,600

3,600

5

Tangible assets

Office equipment
£

Motor vehicles
 £

Leasehold property improvements
£

Total
£

Cost or valuation

At 1 May 2023

11,988

-

16,722

28,710

Additions

225

20,800

-

21,025

Disposals

(3,188)

-

-

(3,188)

At 30 April 2024

9,025

20,800

16,722

46,547

Depreciation

At 1 May 2023

5,493

-

2,149

7,642

Charge for the year

1,012

1,040

836

2,888

Eliminated on disposal

(1,702)

-

-

(1,702)

At 30 April 2024

4,803

1,040

2,985

8,828

Carrying amount

At 30 April 2024

4,222

19,760

13,737

37,719

At 30 April 2023

6,495

-

14,573

21,068

 

Hillswood Independent Ltd

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

6

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

86,377

93,297

Other debtors

 

420

1,620

 

86,797

94,917

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

2,754

2,754

Other creditors

 

34,351

28,395

 

37,105

31,149

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,754

2,754

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

16,746

19,698