ACCOUNTS - Final Accounts

Company registration number: 01967612

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	HILTON BANKS LTD


HILTON BANKS LTD

COMPANY INFORMATION

Directors	C F McAleese-Banks
	S M McAleese-Banks
	A Butler
	M G McAleese
	R C Banks


Company secretary	R C Banks


Registered number	01967612


Registered office	HB42 House
	Unit 9, Maple Grove Business Centre
	Lawrence Road
	Hounslow
	Middlesex
	TW4 6DR


Accountants	Menzies LLP
	Chartered Accountants
	2nd Floor
	Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ


Bankers	Barclays Bank plc
	Ranger House
	Walnut Tree Close
	Guildford
	Surrey
	GU1 4UL


HILTON BANKS LTD

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 8


HILTON BANKS LTD REGISTERED NUMBER:01967612

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	5		189,438		82,478
Investments	6		36,340		36,340
			225,778		118,818
Current assets
Stocks	7	458,222		543,544
Debtors: amounts falling due within one year	8	328,572		388,176
Cash at bank and in hand		74,114		1,624
		860,908		933,344
Creditors: amounts falling due within one year	9	(855,536)		(580,089)
Net current assets			5,372		353,255
Total assets less current liabilities			231,150		472,073
Creditors: amounts falling due after more than one year	10		(104,797)		(55,000)
Provisions for liabilities
Deferred tax		(31,134)		(11,121)
			(31,134)		(11,121)
Net assets			95,219		405,952

Capital and reserves
Called up share capital	16,000	16,000
Capital redemption reserve	100,340	100,340
Profit and loss account	(21,121)	289,612
	95,219	405,952

Page 1


HILTON BANKS LTD REGISTERED NUMBER:01967612

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................ C F McAleese-Banks	................................................ S M McAleese-Banks
Director	Director

Date: 18 September 2025	Date:18 September 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2


HILTON BANKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Hilton Banks Ltd is a private Company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Engand and Wales. The address of the Company's registered office and principal place of business is shown on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historic cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principles have been applied:

2.2

Revenue

Turnover, which is stated net of Value Added Tax, represents the sale of DIY and associated products through wholesaling activity. Sales are recognised when the risks and rewards of goods have been passed over to the customer.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Land and buildings	-	25%	reducing balance
Plant and machinery	-	10%	reducing balance
Motor vehicles	-	25%	reducing balance
Fixtures and fittings	-	20%	reducing balance
Computer equipment	-	10%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3


HILTON BANKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4


HILTON BANKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

3.	Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in Section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 19).

Page 5

HILTON BANKS LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

	5.	Tangible fixed assets

	Land and buildings	Plant and machinery	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 January 2024	127,912	102,935	155,918	136,580	37,087	560,432
Additions	-	23,040	99,609	7,132	-	129,781
Disposals	(127,912)	-	-	-	-	(127,912)
At 31 December 2024	-	125,975	255,527	143,712	37,087	562,301
Depreciation
At 1 January 2024	125,027	87,604	122,501	132,966	9,856	477,954
Charge for the year on owned assets	301	2,593	13,340	1,280	2,723	20,237
Disposals	(125,328)	-	-	-	-	(125,328)
At 31 December 2024	-	90,197	135,841	134,246	12,579	372,863
Net book value
At 31 December 2024	-	35,778	119,686	9,466	24,508	189,438
At 31 December 2023	2,885	15,331	33,417	3,614	27,231	82,478

Page 6


HILTON BANKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Investments

		Investments in group companies
		£
	Cost or valuation
	At 1 January 2024	202,840
	At 31 December 2024	202,840
	Impairment
	At 1 January 2024	166,500
	At 31 December 2024	166,500
	Net book value
	At 31 December 2024	36,340
	At 31 December 2023	36,340

7.	Stocks
		2024	2023
		£	£

Finished goods and goods for resale	458,222	543,544
	458,222	543,544

Debtors

					2024	2023
					£	£


Trade debtors	293,147	356,648
Other debtors	5,065	8,069
Prepayments and accrued income	30,360	23,459
	328,572	388,176

Page 7


HILTON BANKS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank overdrafts	-	169,331
Other loans	444,878	20,000
Trade creditors	271,853	221,295
Amounts owed to group undertakings	63,830	63,830
Corporation tax	48	48
Other taxation and social security	33,442	64,456
Other creditors	34,735	34,529
Accruals and deferred income	6,750	6,600
	855,536	580,089

10.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Other loans	104,797	55,000
	104,797	55,000

11.	Contingencies

At 31 December 2023 the Company had guaranteed an indemnity in favour of HM Customs and Excise for £13,000 (2023 - £13,000).

12.	Related party transactions
	At 31 December 2024 L J A Field, a Director of the Company's parent company, has provided a loan of £55,000 (2023 - £75,000) to the Company with interest payable at a rate of 6% (2023 - 6% above base rate). At the year end the company was owed £5,000 (2023 - £8,000) from a related company.

13.Directors' personal guarantees

R C Banks, a Director, has provided a personal guarantee in relation to the loan balance of £55,000 as at 31 December 2024 (2023 - £75,000).

14.	Post balance sheet events

Post year end the Company has acquired 100% of the share capital of Flag Paints Limited for a consideration of £1,400,000.

Page 8