Registered number
11045991
Hills Flooring Limited
Filleted Accounts
30 November 2024
Hills Flooring Limited
Registered number: 11045991
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 60,408 42,334
Current assets
Debtors 4 - 33,362
Cash at bank and in hand 24,991 3,100
24,991 36,462
Creditors: amounts falling due within one year 5 (31,895) (37,077)
Net current liabilities (6,904) (615)
Total assets less current liabilities 53,504 41,719
Creditors: amounts falling due after more than one year 6 (43,148) (33,180)
Provisions for liabilities (11,478) (8,043)
Net (liabilities)/assets (1,122) 496
Capital and reserves
Called up share capital 101 101
Profit and loss account (1,223) 395
Shareholders' funds (1,122) 496
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Hill
Director
Approved by the board on 26 May 2025
Hills Flooring Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 1,385 42,971 44,356
Additions 32,499 - 32,499
At 30 November 2024 33,884 42,971 76,855
Depreciation
At 1 December 2023 590 1,432 2,022
Charge for the year 6,117 8,308 14,425
At 30 November 2024 6,707 9,740 16,447
Net book value
At 30 November 2024 27,177 33,231 60,408
At 30 November 2023 795 41,539 42,334
4 Debtors 2024 2023
£ £
Trade debtors - 9,472
Other debtors - 23,890
- 33,362
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,000 4,461
Obligations under finance lease and hire purchase contracts 11,950 9,948
Taxation and social security costs 12,817 20,628
Other creditors 3,128 2,040
31,895 37,077
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,333 7,333
Obligations under finance lease and hire purchase contracts 39,815 25,847
43,148 33,180
7 Related party transactions 2024 2023
£ £
Directors loan account
The director is a related party to the company. At 30th November, the company owed the related party the following short term, interest free, unsecured loan repayable upon demand
Amounts due to/(from) the related party 76 (22,174)
8 Controlling party
The director is the ultimate controlling party by virtue of his 100% ownership of the issued share capital of the company
9 Other information
Hills Flooring Limited is a private company limited by shares and incorporated in England. Its registered office is:
58 Southlands Grove West
Riddlesden
Keighley
BD20 5HY
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