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Company No: 03391415 (England and Wales)

H H HILDER & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

H H HILDER & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

H H HILDER & SONS LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
H H HILDER & SONS LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
DIRECTOR N H Hilder
SECRETARY N H Hilder
REGISTERED OFFICE Hollybank Old Kiln Close
Churt
Farnham
GU10 2JH
United Kingdom
COMPANY NUMBER 03391415 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
H H HILDER & SONS LIMITED

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2024
H H HILDER & SONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 31,876 1,754
31,876 1,754
Current assets
Stocks 4 313,196 302,520
Debtors 5 87,119 204,239
Cash at bank and in hand 26,459 29,811
426,774 536,570
Creditors: amounts falling due within one year 6 ( 382,909) ( 480,775)
Net current assets 43,865 55,795
Total assets less current liabilities 75,741 57,549
Creditors: amounts falling due after more than one year 7 ( 18,039) ( 4,643)
Net assets 57,702 52,906
Capital and reserves
Called-up share capital 200 200
Profit and loss account 57,502 52,706
Total shareholders' funds 57,702 52,906

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of H H Hilder & Sons Limited (registered number: 03391415) were approved and authorised for issue by the Director on 27 June 2025. They were signed on its behalf by:

N H Hilder
Director
H H HILDER & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
H H HILDER & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

H H Hilder & Sons Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hollybank Old Kiln Close, Churt, Farnham, GU10 2JH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 4 years straight line
Fixtures and fittings 10 years straight line
Office equipment 6.6 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 July 2023 0 12,547 1,525 1,815 15,887
Additions 0 33,174 0 0 33,174
At 30 June 2024 0 45,721 1,525 1,815 49,061
Accumulated depreciation
At 01 July 2023 0 12,547 1,401 185 14,133
Charge for the financial year 0 2,765 14 273 3,052
At 30 June 2024 0 15,312 1,415 458 17,185
Net book value
At 30 June 2024 0 30,409 110 1,357 31,876
At 30 June 2023 0 0 124 1,630 1,754

4. Stocks

2024 2023
£ £
Work in progress 313,196 302,520

5. Debtors

2024 2023
£ £
Trade debtors 2,799 0
Prepayments 2,073 2,137
Corporation tax 0 88
Other debtors 82,247 202,014
87,119 204,239

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 2,039 1,989
Trade creditors 31,373 47,646
Accruals 3,685 3,670
Taxation and social security 11,967 12,900
Obligations under finance leases and hire purchase contracts 3,306 0
Other creditors 330,539 414,570
382,909 480,775

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 2,609 4,643
Obligations under finance leases and hire purchase contracts 15,430 0
18,039 4,643

8. Loans

Amounts falling due within one year

2024 2023
£ £
Bank Loan 2,039 1,989
Toyota Loan 3,306 0
5,345 1,989

Amounts falling under due 2-5 years

2024 2023
£ £
Bank Loan 2,609 4,643
Toyota Loan 15,430 0
18,039 4,643