HILL HOUSE AUTOMOTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
Hill House Automotive Limited is a private company limited by shares and incorporated in England and Wales on 24 January 2024. The registered office address is Hill House, Brinkley Road, Carlton, Newmarket, Suffolk, England, CB8 9JY.
The Company's functional and presentational currency is GBP.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The Company had net liabilities of £2,450 as at 31 January 2025. The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive financial support from the parent company to provide sufficient funds to enable it to meet its liabilities as they fall due.
Stocks are valued at the lower of the cost and net realisable value and comprise work-in-progress, being classic cars in the process of being restored.
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CASH AND CASH EQUIVALENTS
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price.
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