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REGISTERED NUMBER: 04217865 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

HILTON & MOSS SPORTSCARS LIMITED

HILTON & MOSS SPORTSCARS LIMITED (REGISTERED NUMBER: 04217865)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HILTON & MOSS SPORTSCARS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: P A Hilton





REGISTERED OFFICE: Unit 2 Raynham Road Industrial Estate
Bishop's Stortford
CM23 5PJ





REGISTERED NUMBER: 04217865 (England and Wales)





ACCOUNTANTS: Lucentum Business Services Ltd
Beckwith Barn
Warren Estate
Lordship Road
Chelmsford
Essex
CM1 3WT

HILTON & MOSS SPORTSCARS LIMITED (REGISTERED NUMBER: 04217865)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 67,515 80,149
Tangible assets 6 920,385 277,665
987,900 357,814

CURRENT ASSETS
Stocks 7 3,976,121 4,206,186
Debtors 8 496,722 373,332
Cash at bank and in hand 56,358 270,759
4,529,201 4,850,277
CREDITORS
Amounts falling due within one year 9 3,608,393 3,711,288
NET CURRENT ASSETS 920,808 1,138,989
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,908,708

1,496,803

CREDITORS
Amounts falling due after more than one
year

10

(9,640

)

(19,908

)

PROVISIONS FOR LIABILITIES (75,288 ) (30,657 )
NET ASSETS 1,823,780 1,446,238

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 1,723,780 1,346,238
SHAREHOLDERS' FUNDS 1,823,780 1,446,238

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

HILTON & MOSS SPORTSCARS LIMITED (REGISTERED NUMBER: 04217865)

BALANCE SHEET - continued
30 JUNE 2024


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 13 March 2025 and were signed by:





P A Hilton - Director


HILTON & MOSS SPORTSCARS LIMITED (REGISTERED NUMBER: 04217865)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Hilton & Moss Sportscars 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 presentation currency of the financial statements is the Pound Sterling (£).


Amounts in the financial statements have been rounded to the nearest Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts.The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 10 years
Plant and machinery - 20% straight line
Fixtures and fittings - 20% straight line
Motor vehicles - 25% Straight line

HILTON & MOSS SPORTSCARS LIMITED (REGISTERED NUMBER: 04217865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

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.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. The company has no bank loans or other more complex financial instruments that require measurement at amortised cost using the effective interest method.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 11 ) .

HILTON & MOSS SPORTSCARS LIMITED (REGISTERED NUMBER: 04217865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 126,339
AMORTISATION
At 1 July 2023 46,190
Charge for year 12,634
At 30 June 2024 58,824
NET BOOK VALUE
At 30 June 2024 67,515
At 30 June 2023 80,149

6. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 16,731 95,583 93,706
Additions - 180,791 27,822
Disposals - - -
At 30 June 2024 16,731 276,374 121,528
DEPRECIATION
At 1 July 2023 16,731 83,980 64,117
Charge for year - 43,119 14,027
Eliminated on disposal - - -
At 30 June 2024 16,731 127,099 78,144
NET BOOK VALUE
At 30 June 2024 - 149,275 43,384
At 30 June 2023 - 11,603 29,589

HILTON & MOSS SPORTSCARS LIMITED (REGISTERED NUMBER: 04217865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. TANGIBLE FIXED ASSETS - continued

Assets
Motor under
vehicles construction Totals
£    £    £   
COST
At 1 July 2023 124,880 160,000 490,900
Additions 319,320 306,500 834,433
Disposals (70,492 ) - (70,492 )
At 30 June 2024 373,708 466,500 1,254,841
DEPRECIATION
At 1 July 2023 48,407 - 213,235
Charge for year 90,698 - 147,844
Eliminated on disposal (26,623 ) - (26,623 )
At 30 June 2024 112,482 - 334,456
NET BOOK VALUE
At 30 June 2024 261,226 466,500 920,385
At 30 June 2023 76,473 160,000 277,665

7. STOCKS
2024 2023
£    £   
Work-in-progress 30,000 23,810
Finished goods 3,946,121 4,182,376
3,976,121 4,206,186

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 483,831 303,400
Other debtors 12,891 69,932
496,722 373,332

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,268 10,015
Trade creditors 289,834 260,450
Taxation and social security 57,602 195,131
Other creditors 3,250,689 3,245,692
3,608,393 3,711,288

HILTON & MOSS SPORTSCARS LIMITED (REGISTERED NUMBER: 04217865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,640 19,908

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, the company entered into transactions with its director, Mr P Hilton. At the beginning of the year, the amount owed to the director was £708,213. Further loans were received from the director in the year totalling £709,070 and repayments were made totalling £1,323,673. At the year end, the balance owed to the director was £93,610.

12. RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed £3,122,997 (2023 - £2,427,997) to Hilton Properties Limited, a company of which Mr P Hilton is also a director and shareholder.

13. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr P Hilton by virtue of his majority holding of the issued share capital.