Company registration number 10848696 (England and Wales)
HILLEARY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
HILLEARY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HILLEARY LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
169,857
171,211
Current assets
Debtors
5
7,555
8,015
Cash at bank and in hand
9,187
5,261
16,742
13,276
Creditors: amounts falling due within one year
6
(13,745)
(14,657)
Net current assets/(liabilities)
2,997
(1,381)
Total assets less current liabilities
172,854
169,830
Creditors: amounts falling due after more than one year
7
(118,253)
(114,986)
Net assets
54,601
54,844
Capital and reserves
Called up share capital
8
15
15
Profit and loss reserves
9
54,586
54,829
Total equity
54,601
54,844

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

HILLEARY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 March 2025 and are signed on its behalf by:
Mr G  Everington
Director
Company registration number 10848696 (England and Wales)
HILLEARY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Hilleary Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orchard House, Frating Road, Ardleigh, Colchester, Essex, CO7 7SU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received, and is shown gross.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

 

Financial assets comprise cash at bank and in hand, together with other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital.

 

Investments are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure.

 

Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

HILLEARY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Judgements and key sources of estimation uncertainty

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 the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Fair value of investment property

The valuation is made on an open market basis by reference to the market evidence of transaction prices for similar properties.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
HILLEARY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
4
Investment property
2024
£
Fair value
At 1 August 2023
171,211
Revaluations
(1,354)
At 31 July 2024
169,857

Investment property comprises of freehold property available for rental. The fair value of the investment property has been arrived at on the basis of a valuation carried by the directors. The valuation was made on an open market basis by reference to the market evidence of transaction prices for similar properties.

 

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
7,555
8,015
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
260
1,469
Other creditors
13,485
13,188
13,745
14,657
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
118,253
114,986

The long term loan is owed to A Everington, with no fixed date for repayment.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
71,597
68,330
HILLEARY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Class A shares of 0.1p each
10,000
10,000
10
10
Ordinary Class B shares of 0.1p each
5,000
5,000
5
5
15,000
15,000
15
15
9
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
54,829
58,727
Loss for the year
(243)
(3,898)
At the end of the year
54,586
54,829

Included within profit and loss reserves are non-distributable profits, as set out below:

2024
2023
£
£
Non-distributable profits included above
At the beginning of the year
31,380
41,538
Non distributable profits in the year
(1,354)
(10,158)
At the end of the year
30,026
31,380
Distributable profits
24,560
23,449
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