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REGISTERED NUMBER: 02608260 (England and Wales)















HILLS CONTRACTORS & CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






HILLS CONTRACTORS & CONSTRUCTION LIMITED (REGISTERED NUMBER: 02608260)

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 to 5


HILLS CONTRACTORS & CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr J A Hills
Mr J R Mann





SECRETARY: Mr J A Hills





REGISTERED OFFICE: Bridge Mill House
Brook Street Business Centre
Brook Street
Colchester
Essex
CO12UZ





REGISTERED NUMBER: 02608260 (England and Wales)

HILLS CONTRACTORS & CONSTRUCTION LIMITED (REGISTERED NUMBER: 02608260)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 299,848 336,413

CURRENT ASSETS
Stocks 5 52,217 51,996
Debtors 6 2,574,334 3,419,631
Cash at bank and in hand 124,636 55,995
2,751,187 3,527,622
CREDITORS
Amounts falling due within one year 7 (2,402,315 ) (3,289,635 )
NET CURRENT ASSETS 348,872 237,987
TOTAL ASSETS LESS CURRENT LIABILITIES 648,720 574,400

CREDITORS
Amounts falling due after more than one year 8 (11,667 ) (21,667 )

PROVISIONS FOR LIABILITIES (47,932 ) (35,356 )
NET ASSETS 589,121 517,377

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Retained earnings 586,121 514,377
SHAREHOLDERS' FUNDS 589,121 517,377

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 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.

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 21 March 2025 and were signed on its behalf by:





Mr J R Mann - Director


HILLS CONTRACTORS & CONSTRUCTION LIMITED (REGISTERED NUMBER: 02608260)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Hills Contractors & Construction Limited 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.

The presentational and functional currency of these financial statements is Pound Sterling. Values are rounded to the nearest Pound (£).

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, which is stated net of VAT, represents the value of work done in the year including estimates of amounts not invoiced.

Property, plant and equipment
All property, plant and equipment is initially recorded at cost.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and Machinery-20% to 33% straight line and 33% reducing balance
Motor Vehicles-25% reducing balance and 25% straight line

Stocks
Stocks and work in progress is valued at prime cost less foreseeable losses where appropriate, No element of profit is included in the valuation of work in progress.

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 agreements
Assets held under hire purchase agreements are capitalised and disclosed under property, plant and equipment at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the income statement on a straight line basis.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the income statement.

HILLS CONTRACTORS & CONSTRUCTION LIMITED (REGISTERED NUMBER: 02608260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Long term contracts
Contract work in progress is valued at total costs incurred, less foreseeable losses. Profit on long term contracts is taken as the work is carried out once the final outcome of the project can be assessed with reasonable certainty. Provision is made for losses on contracts in the year in which they are foreseen.

Subvention policy
Where tax losses are surrendered between group companies the company surrendering the loss receives compensation from the recipient company in the form of subvention payments. The value of the subvention payment is the amount of tax saved by the recipient.

Financial instruments
Basic financial instruments are measured at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 31 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 343,982 185,314 529,296
Disposals (99 ) (11,300 ) (11,399 )
At 31 March 2024 343,883 174,014 517,897
DEPRECIATION
At 1 April 2023 53,104 139,779 192,883
Charge for year 24,942 10,384 35,326
Eliminated on disposal - (10,160 ) (10,160 )
At 31 March 2024 78,046 140,003 218,049
NET BOOK VALUE
At 31 March 2024 265,837 34,011 299,848
At 31 March 2023 290,878 45,535 336,413


5. STOCKS
2024 2023
£    £   
Raw materials 52,217 51,996

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 42,270 32,078
Amounts due from related undertakings 674,272 349,772
Amounts recoverable on contracts 900,423 1,464,036
Other debtors 13,224 12,878
Prepayments and accrued income 944,145 1,560,867
2,574,334 3,419,631

HILLS CONTRACTORS & CONSTRUCTION LIMITED (REGISTERED NUMBER: 02608260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 10,000 10,000
Trade creditors 292,109 238,424
Amounts due to group undertakings 963,266 365,686
Amounts due to related undertaking 509,817 2,088,613
Other taxes and social security 165,418 164,069
Other creditors 1,640 1,778
Accruals and deferred income 460,065 421,065
2,402,315 3,289,635

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 11,667 10,000
Bank loans - 2-5 years - 11,667
11,667 21,667

9. ULTIMATE CONTROLLING PARTY

During the period, the company's ultimate parent was Hills Building Group Limited.

During the period and at the period end, the ultimate controlling party was Mr J. A. Hills.