REGISTERED NUMBER: 01923890 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Hitherbest Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Dr N H Evans

S Hindley

J R Ward

REGISTERED OFFICE:

Heath Hill Court

Heath Hill Industrial Estate

Dawley

Telford

Shropshire

TF4 2RH

REGISTERED NUMBER:

01923890 (England and Wales)

ACCOUNTANTS:

WR Partners

Chartered Accountants

Belmont House

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG

BANKERS:

Lloyds Bank Plc

113 The Border

Telford Shopping Centre

Telford

Shropshire

TF3 4AE

FIXED ASSETS

Property, plant and equipment

4

1,072,623

1,058,828

Investments

5

1

1

1,072,624

1,058,829

CURRENT ASSETS

Inventories

164,855

256,329

Debtors

6

556,823

615,601

Cash at bank

1,857,001

1,877,606

2,578,679

2,749,536

CREDITORS

Amounts falling due within one year

7

323,456

381,274

NET CURRENT ASSETS

2,255,223

2,368,262

TOTAL ASSETS LESS CURRENT LIABILITIES

3,327,847

3,427,091

CREDITORS

Amounts falling due after more than one year

8

(42,005

)

(114,016

)

PROVISIONS FOR LIABILITIES

(193,100

)

(185,352

)

ACCRUALS AND DEFERRED INCOME

10

(7,480

)

(14,127

)

NET ASSETS

3,085,262

3,113,596

CAPITAL AND RESERVES

Called up share capital

6,000

6,000

Retained earnings

3,079,262

3,107,596

SHAREHOLDERS' FUNDS

3,085,262

3,113,596

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2025 and were signed on its behalf by:

Dr N H Evans - Director

1.	STATUTORY INFORMATION

Hitherbest Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Hitherbest Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

15% on cost and 2% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% or 33.33% on cost

Motor vehicles

-

25% on cost

Grants

Grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is a reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Grants are recognised using the accrual model. Under the accrual model, grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Grants are then receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.Where part of the asset is deferred, it it recognised as deferred income and not deducted from the carrying amount of the asset.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Financial instruments

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2024 - 40 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 February 2024

569,774

1,700,695

78,366

49,855

2,398,690

Additions

-

228,650

6,808

-

235,458

Disposals

-

(88,774

)

-

-

(88,774

)

At 31 January 2025

569,774

1,840,571

85,174

49,855

2,545,374

DEPRECIATION

At 1 February 2024

246,099

1,013,207

40,621

39,935

1,339,862

Charge for year

19,274

191,284

7,780

3,325

221,663

Eliminated on disposal

-

(88,774

)

-

-

(88,774

)

At 31 January 2025

265,373

1,115,717

48,401

43,260

1,472,751

NET BOOK VALUE

At 31 January 2025

304,401

724,854

36,773

6,595

1,072,623

At 31 January 2024

323,675

687,488

37,745

9,920

1,058,828

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2024

and 31 January 2025

1

NET BOOK VALUE

At 31 January 2025

1

At 31 January 2024

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

396,257

457,967

Amounts owed by group undertakings

99,001

97,114

Other debtors

61,565

60,520

556,823

615,601

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 9)

72,010

72,010

Trade creditors

89,631

102,392

Taxation and social security

104,373

129,016

Other creditors

57,442

77,856

323,456

381,274

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 9)

42,005

114,016

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2025

2024

£

£

Net obligations repayable:

Within one year

72,010

72,010

Between one and five years

42,005

114,016

114,015

186,026

Non-cancellable

operating leases

2025

2024

£

£

Within one year

33,340

32,192

Between one and five years

57,330

86,418

90,670

118,610

10.	ACCRUALS AND DEFERRED INCOME

2025

2024

£

£

Deferred grants

7,480

14,127

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £75,000 (2024 - £30,000) were paid to a director of the company.

12.

GRANTS

2025

2024

£

£

At start of period

22,229

34,272

Grants received or receivable

-

-

Released to the profit or loss

(8,100

)

(12,043

)

At end of period

14,129

22,229

The amounts recognised in the unaudited financial statements for grants are as follows:

2025

2024

£

£

Recognised in creditors:

Deferred grants due within one year

6,649

8,102

Deferred grants due after more than one year

7,480

14,127

Recognised in other operating income:

Grants released to profit or loss

8,100

12,043

Deferred income relates to three grants receivable for the purchase of plant.