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Company No: 01628063 (England and Wales)

HILKA TOOLS (UK) LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

HILKA TOOLS (UK) LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

HILKA TOOLS (UK) LIMITED

BALANCE SHEET

As at 30 November 2024
HILKA TOOLS (UK) LIMITED

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 907,874 928,504
907,874 928,504
Current assets
Stocks 2,873,867 2,418,314
Debtors 5 1,620,394 1,619,404
Cash at bank and in hand 16,703 3,704
4,510,964 4,041,422
Creditors: amounts falling due within one year 6 ( 2,407,545) ( 2,286,942)
Net current assets 2,103,419 1,754,480
Total assets less current liabilities 3,011,293 2,682,984
Creditors: amounts falling due after more than one year 7 ( 108,204) ( 211,534)
Provision for liabilities ( 40,330) ( 43,949)
Net assets 2,862,759 2,427,501
Capital and reserves
Called-up share capital 8 18,972 18,972
Share premium account 2,178 2,178
Capital redemption reserve 41,104 41,104
Profit and loss account 2,800,505 2,365,247
Total shareholders' funds 2,862,759 2,427,501

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

Directors' responsibilities:

The financial statements of Hilka Tools (UK) Limited (registered number: 01628063) were approved and authorised for issue by the Board of Directors on 15 July 2025. They were signed on its behalf by:

S Rouse
Director
HILKA TOOLS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
HILKA TOOLS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 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

Hilka Tools (UK) 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 1 Roebuck Place, Roebuck Road, Chessington, KT9 1EU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents the sale of tools and gardening equipment, and commission receivable, net of value added tax and charges made.

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 sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination 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 Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
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:

Land and buildings not depreciated
Vehicles 33.33 % reducing balance
Fixtures and fittings 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

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

Non-financial assets
At each balance sheet date, the company reviews 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

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. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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.

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.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 11

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 December 2023 28,000 28,000
At 30 November 2024 28,000 28,000
Accumulated amortisation
At 01 December 2023 28,000 28,000
At 30 November 2024 28,000 28,000
Net book value
At 30 November 2024 0 0
At 30 November 2023 0 0

4. Tangible assets

Land and buildings Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 December 2023 746,552 116,125 9,965 276,369 1,149,011
Additions 0 65,701 7,719 30,592 104,012
Disposals 0 ( 19,500) 0 0 ( 19,500)
At 30 November 2024 746,552 162,326 17,684 306,961 1,233,523
Accumulated depreciation
At 01 December 2023 0 28,568 9,406 182,533 220,507
Charge for the financial year 0 43,134 693 78,989 122,816
Disposals 0 ( 17,674) 0 0 ( 17,674)
At 30 November 2024 0 54,028 10,099 261,522 325,649
Net book value
At 30 November 2024 746,552 108,298 7,585 45,439 907,874
At 30 November 2023 746,552 87,557 559 93,836 928,504

5. Debtors

2024 2023
£ £
Trade debtors 1,587,378 1,597,440
Other debtors 33,016 21,964
1,620,394 1,619,404

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 103,331 150,327
Trade creditors 184,362 193,067
Taxation and social security 565,477 393,848
Other creditors 1,554,375 1,549,700
2,407,545 2,286,942

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

2024 2023
£ £
Bank loans 108,204 211,534

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
219 B ordinary shares of £ 1.00 each 219 219
3 C ordinary shares of £ 1.00 each 3 3
18,750 Ordinary shares of £ 1.00 each 18,750 18,750
18,972 18,972