ACCOUNTS - Final Accounts preparation

Registered number: NI617576

HILTEC DESIGNS LTD

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

HILTEC DESIGNS LTD

REGISTERED NUMBER: NI617576

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	46,234		47,685
Cash at bank and in hand		18,990		156,124
		65,224		203,809
Creditors: amounts falling due within one year	6	2,398		(78,188)
Net current assets			67,622		125,621
Total assets less current liabilities			67,622		125,621

Net assets			67,622		125,621

Capital and reserves
Called up share capital	100	100
Profit and loss account	67,522	125,521
	67,622	125,621

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 comprehensive income 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 on 28 August 2025.

Mr Ian Hill

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

HILTEC DESIGNS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Hiltec Designs Ltd is a private company limited by shares incorporated in Northern Ireland. The registered office is Unit 6 Derryboy Road, Carnbane Business Park, Newry, Co. Down, Northern Ireland, BT35 6FY.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Turnover

The company earns income in relation to the sale of products designed by the company. Patent income is recognised on an accruals basis in accordance with the substance of the agreement.

2.3

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair values with chanfes recognised in profit or loss.

2.4

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.5

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.

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HILTEC DESIGNS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Taxation

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 balance sheet 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 balance sheet 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 balance sheet date.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3.	Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

Page 3

HILTEC DESIGNS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including the director, during the year was as follows:

			2024	2023
			No.	No.


			0	0

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	46,234	47,685
	46,234	47,685

Amounts owed by group undertakings are interest free, unsecured and repayable on demand.

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

Corporation tax	(12,504)	68,241
Other taxation and social security	7,706	7,947
Accruals and deferred income	2,400	2,000
	(2,398)	78,188

7.	Related party transactions
	The company has availed of the FRS102 exemption not to disclose related party transactions between wholly owned group companies.

8.	Parent Company

W.I. Hill Holdings Limtied, a company incorporated in Northern Ireland, is the 100% parent company of Hiltec Designs Ltd. W.I. Hill Holdings Limited's registration number is NI616010 and it's registered address is Unit 6 Derryboy Road, Carnbane Business Park, Newry, Co. Down, BT35 6FY.

9.	Auditor's liability limitation agreement

The directors, on behalf of the company, have entered into a Limited Liability Agreement on 07 April 2025.

Page 4

HILTEC DESIGNS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 28 August 2025 by Michael Farrell (Senior statutory auditor) on behalf of AAB Group Accountants Limited.

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