Company registration number 00988614 (England and Wales)
HILLCREST CATERING CO. LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
HILLCREST CATERING CO. LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 11
HILLCREST CATERING CO. LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
6
841,303
963,775
Current assets
Stocks
19,473
23,349
Debtors
7
715,493
813,100
Cash at bank and in hand
43,210
82,965
778,176
919,414
Creditors: amounts falling due within one year
8
(602,982)
(662,058)
Net current assets
175,194
257,356
Total assets less current liabilities
1,016,497
1,221,131
Creditors: amounts falling due after more than one year
10
(371,624)
(488,922)
Provisions for liabilities
12
(83,069)
(120,631)
Net assets
561,804
611,578
Capital and reserves
Called up share capital
13
180,000
180,000
Capital redemption reserve
120,000
120,000
Profit and loss reserves
261,804
311,578
Total equity
561,804
611,578

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 10 July 2025 and are signed on its behalf by:
Mr H Jivraj
Director
Company registration number 00988614 (England and Wales)
HILLCREST CATERING CO. LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 April 2023
180,000
120,000
324,677
624,677
Year ended 31 March 2024:
Loss and total comprehensive income
-
-
(13,099)
(13,099)
Balance at 31 March 2024
180,000
120,000
311,578
611,578
Year ended 31 March 2025:
Loss and total comprehensive income
-
-
(49,774)
(49,774)
Balance at 31 March 2025
180,000
120,000
261,804
561,804
HILLCREST CATERING CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Hillcrest Catering Co. Limited is a private company limited by shares incorporated in England and Wales. The registered office is 133 High Street, Barnet, Hertfordshire, EN5 5UZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial performance of the company is set out in the report of the directors and in the statement of profit true or loss and the other comprehensive income. The financial position of the company is set out in the statement of financial position.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover comprises revenue recognised by the company in respect of goods supplied during the period, exclusive of Value Added Tax. Turnover from restaurants is recognised when payment is tendered by the customer at the point of sale.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over the life of the lease
Plant and equipment
10% on reducing balance method
Fixtures and fittings
25% on reducing balance method
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of 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). 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.

Recoverable amount is the higher of fair value less costs to sell and 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.

HILLCREST CATERING CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are stated at the lower of cost and net realisable value.

1.7
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.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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.

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 paymen ts 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. A m ounts 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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the fair value of the cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

HILLCREST CATERING CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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

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

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.14

Finance costs

Finance costs are interest and other costs that the company incurs in connection with the borrowing of funds.

All borrowing costs are recognised in profit or loss during the period in which they are incurred.

1.15

Comparatives

There were no changes in comparative figures during the year.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

HILLCREST CATERING CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 6 -
Key sources of estimation uncertainty

In the application of the accounting policies, the directors are 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 relevant factors. Such estimates and assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

The directors have made the following assumptions that have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Useful lives of property, plant and equipment

Management reviews the useful lives, depreciation methods and residual values of the items of property, plant and equipment on a regular basis. During the financial year, the directors determined no significant changes in the useful lives and residual values. The carrying amounts of property, plant and equipment is disclosed in note 6.

Recoverablility of intercompany receivables

Intercompany receivables are stated at their recoverable amount less any necessary provision. Recoverability of trade and intercompany receivables is assessed annually and a provision is recognised if any indications exist that the receivables are not considered recoverable.

3
Turnover

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by geographical market
Swiss Cottage Store
1,174,120
1,132,138
Twickenham Store
1,092,524
1,116,378
Brentford Store
1,246,500
1,369,971
Whitton Store
818,484
845,756
4,331,628
4,464,243
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
79
85
5
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
1,335
22,992
HILLCREST CATERING CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Taxation
2025
2024
£
£
(Continued)
- 7 -
Deferred tax
Origination and reversal of timing differences
(37,562)
(22,470)
Total tax (credit)/charge
(36,227)
522

The actual (credit)/charge for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Loss before taxation
(86,001)
(12,577)
Expected tax credit based on the standard rate of corporation tax in the UK of 19.00% (2024: 25.00%)
(16,340)
(3,144)
Tax effect of expenses that are not deductible in determining taxable profit
389
-
0
Group relief
(4,956)
-
0
Permanent capital allowances in excess of depreciation
22,242
26,136
Deferred tax
(37,562)
(22,470)
Taxation (credit)/charge for the year
(36,227)
522
6
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2024
1,257,186
1,052,903
706,740
3,016,829
Additions
-
0
24,779
4,050
28,829
At 31 March 2025
1,257,186
1,077,682
710,790
3,045,658
Depreciation and impairment
At 1 April 2024
805,998
718,168
528,888
2,053,054
Depreciation charged in the year
71,743
34,926
44,632
151,301
At 31 March 2025
877,741
753,094
573,520
2,204,355
Carrying amount
At 31 March 2025
379,445
324,588
137,270
841,303
At 31 March 2024
451,188
334,735
177,852
963,775
HILLCREST CATERING CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
662,825
729,487
Other debtors
37,418
68,363
Prepayments and accrued income
15,250
15,250
715,493
813,100
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
9
151,414
148,803
Trade creditors
193,603
141,294
Amounts owed to group undertakings
104
65,766
Corporation tax
1,335
22,992
Other taxation and social security
145,523
133,901
Other creditors
40,229
24,701
Accruals and deferred income
70,774
124,601
602,982
662,058
9
Loans and overdrafts
2025
2024
£
£
Bank loans
523,038
637,725
Payable within one year
151,414
148,803
Payable after one year
371,624
488,922

The bank loans are secured by:

Composite company limited guarantee dated 20 July 2012 given by group companies.

Fixed and floating debenture charges over all present freehold and leasehold property, other debts, chattels, goodwill and uncalled capital, both present and future dated 19 July 2012.

The loans are subject to monthly repayments and commercial rates of interest.

Included in bank loans is a loan received from HSBC Bank under the Bounce Back Loan Scheme (BBLS). The loan was received on 29 May 2020 at a commercial rate for a period of 6 years.

The bank received a guarantee from the UK government under BBLS which provides the bank with a full guarantee should the company default on repaying the loan.

There is no security required for this loan under BBLS.

HILLCREST CATERING CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
10
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
371,624
488,922
11
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated Capital Allowances
83,069
120,631
2025
Movements in the year:
£
Liability at 1 April 2024
120,631
Credit to profit or loss
(37,562)
Liability at 31 March 2025
83,069
12
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
11
83,069
120,631
13
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
400
400
400
400
HILLCREST CATERING CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
13
Called up share capital
(Continued)
- 10 -
2025
2024
2025
2024
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of £1 each
179,600
179,600
179,600
179,600
Preference shares classified as equity
179,600
179,600
Total equity share capital
180,000
180,000
14
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Shilpa Chheda
Statutory Auditor:
KLSA LLP
Date of audit report:
10 July 2025
15
Financial commitments, guarantees and contingent liabilities

There are unlimited cross guarantees in place between group companies in respect of group borrowings.

HILLCREST CATERING CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
16
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Within one year
209,400
209,400
Between two and five years
609,427
679,827
In over five years
649,226
788,226
1,468,053
1,677,453
17
Related party transactions
Transactions with related parties

The company has taken advantage of the exemption available in FRS 102 (s33 "Related Party Disclosure"), whereby it has not disclosed transactions with the parent company or any wholly owned subsidiary undertakings of the group.

Included under other creditors is directors account amounting to £Nil (202 4: £2,0 2 7).

18
Parent company

The ultimate parent company is Goldtique Limited, a company registered in England and Wales.

The largest group in which the entity is consolidated is Goldtique Limited. The copies of the consolidated financial statements can be obtained from 133 High Street, Barnet, Hertfordshire EN5 5UZ.

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