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REGISTERED NUMBER: 01331351 (England and Wales)















HILLS BUILDING GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






HILLS BUILDING GROUP LIMITED (REGISTERED NUMBER: 01331351)

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 6


HILLS BUILDING GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr J A Hills
Mr J E C Cox





SECRETARY: Mr J A Hills





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





REGISTERED NUMBER: 01331351 (England and Wales)

HILLS BUILDING GROUP LIMITED (REGISTERED NUMBER: 01331351)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 179,610 150,740
Investments 5 18,353 18,353
197,963 169,093

CURRENT ASSETS
Debtors 6 2,556,528 2,917,478
Cash at bank and in hand 110,641 53,201
2,667,169 2,970,679
CREDITORS
Amounts falling due within one year 7 (1,576,175 ) (1,820,180 )
NET CURRENT ASSETS 1,090,994 1,150,499
TOTAL ASSETS LESS CURRENT LIABILITIES 1,288,957 1,319,592

CREDITORS
Amounts falling due after more than one year 8 (11,667 ) (21,667 )
NET ASSETS 1,277,290 1,297,925

CAPITAL AND RESERVES
Called up share capital 48,800 48,800
Capital redemption reserve 4,000 4,000
Retained earnings 1,224,490 1,245,125
SHAREHOLDERS' FUNDS 1,277,290 1,297,925

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 E C Cox - Director


HILLS BUILDING GROUP LIMITED (REGISTERED NUMBER: 01331351)

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


1. STATUTORY INFORMATION

Hills Building Group 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.

Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts. These financial statements therefore present information about the company as an individual entity and not about its group.

Turnover
The turnover shown in the income statement represents amounts receivable during the year.

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:

Improvements to Property-10 years straight line
Plant and Machinery-20% to 33% straight line
Motor Vehicles-25% reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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.

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.

HILLS BUILDING GROUP LIMITED (REGISTERED NUMBER: 01331351)

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


2. ACCOUNTING POLICIES - continued

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.

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 12 (2023 - 12 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 86,286 203,459 62,419 352,164
Additions 54,264 8,883 - 63,147
Disposals - - (10,136 ) (10,136 )
At 31 March 2024 140,550 212,342 52,283 405,175
DEPRECIATION
At 1 April 2023 8,629 159,719 33,076 201,424
Charge for year 7,027 21,340 2,480 30,847
Eliminated on disposal - - (6,706 ) (6,706 )
At 31 March 2024 15,656 181,059 28,850 225,565
NET BOOK VALUE
At 31 March 2024 124,894 31,283 23,433 179,610
At 31 March 2023 77,657 43,740 29,343 150,740

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 18,353
NET BOOK VALUE
At 31 March 2024 18,353
At 31 March 2023 18,353

HILLS BUILDING GROUP LIMITED (REGISTERED NUMBER: 01331351)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,573 4,800
Amounts due from group undertakings 632,836 304,859
Other debtors 173,788 99,103
Directors' current accounts - 9,171
Deferred tax asset
Accelerated capital allowances 4,627 2,503
Prepayments and accrued income 1,739,704 2,497,042
2,556,528 2,917,478

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 10,000 10,000
Hire purchase contracts (see note 9) - 1,093
Trade creditors 52,524 38,930
Amounts due to group undertakings 162,099 27,016
Amounts due to related undertaking 1,187,662 1,594,557
Other taxes and social security 9,931 10,015
Other creditors 122,694 127,268
Accruals and deferred income 31,265 11,301
1,576,175 1,820,180

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

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 1,093

Non-cancellable operating leases
2024 2023
£    £   
Within one year 1,808 1,808
Between one and five years 2,712 4,520
4,520 6,328

HILLS BUILDING GROUP LIMITED (REGISTERED NUMBER: 01331351)

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


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 1,093

Amounts payable under hire purchase agreements are secured against the assets to which they relate.

11. CONTINGENT LIABILITIES

The company has provided a guarantee, limited to £200,000, against borrowings entered into by Hills Residential Construction Limited. No provision has been made in the financial statements for this amount.

12. TRANSACTIONS WITH THE DIRECTORS

During the year Mr J.A. Hills had expenses paid for by the company of £21,265 and introduced £30,437. At the year end he owed the company £Nil (2023: £9,171).