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Registered number: 00787518
N. HILLMAN & SONS CONTRACTORS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JANUARY 2025
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N. HILLMAN & SONS CONTRACTORS LIMITED
REGISTERED NUMBER: 00787518
BALANCE SHEET
AS AT 31 JANUARY 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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N. HILLMAN & SONS CONTRACTORS LIMITED
REGISTERED NUMBER: 00787518
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025
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 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 28 October 2025.
The notes on pages 3 to 11 form part of these financial statements.
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N. HILLMAN & SONS CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
N. Hillman & Sons Contractors Limited is a private company, limited by shares and incorporated in England and Wales. The address of the registered office is 46-48 Ennersdale Road, London, SE13 6JB. The principal activities of the company during the year continue to be the provision of building services, property development and property investment.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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 following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the company has transferred the significant risks and rewards of ownership to the buyer;
∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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N. HILLMAN & SONS CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2.Accounting policies (continued)
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.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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 Balance sheet. The assets of the plan are held separately from the company in independently administered funds.
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Current and deferred taxation
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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 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.
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N. HILLMAN & SONS CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2.Accounting policies (continued)
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 the following bases:
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.
Investment property is carried at fair value determined annually either by external valuers or by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income
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Stocks and work in progress
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Stocks and work in progress are valued at cost plus profit to stage of completion. Cost includes development land and buildings, materials, direct labour, sub-contract labour and plant costs.
At each balance sheet date, stock and work in progress is assessed for impairment. If work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete. The impairment loss is recognised immediately in the Statement of comprehensive income.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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N. HILLMAN & SONS CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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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.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Provisions for liabilities
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Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the the obligation.
Provisions are charged as an expense to the profit and loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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a) Critical judgments in applying the company's accounting policies
No significant judgments have been made by management in the preparation of the financial statements.
b) Key accounting estimates and assumptions
The company has made key assumptions regarding the valuation of investment properties and this is further described in note 2.8 of the accounting policies.
The company has also made key assumptions regarding the work in progress balances of projects at the year-end. This is further described in note 2.9 of the accounting policies.
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The average monthly number of employees, including directors, during the year was 15 (2024 - 16).
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N. HILLMAN & SONS CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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Charge for the year on owned assets
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Freehold investment property
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The 2025 valuations for all properties were made by the directors, on an open market value for existing use basis.
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N. HILLMAN & SONS CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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Prepayments and accrued income
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Cash and cash equivalents
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N. HILLMAN & SONS CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Bank loans due within and after one year totalling £6,091,440 (2024: £11,096,519) are secured by way
of fixed charges over investment properties owned by the company and by way of a floating charge over
the assets of the company.
The director has provided personal guarantees in respect of loans from Metro Bank and Cynergy Bank.
The personal guarantees are limited to the value of the loan for Metro Bank with a value at the year-end of £411,250 (2024: £2,902,583), and for a sum of £5,680,189 (2024: £5,812,895) for Cynergy Bank.
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N. HILLMAN & SONS CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Amounts falling due after more than 5 years
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N. HILLMAN & SONS CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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Credited to profit or loss
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The provision for deferred taxation is made up as follows:
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Deferred tax on revalued properties
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Accelerated capital allowances
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Deferred tax on losses carried forward
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Allotted, called up and fully paid
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100 (2024 - 100) Ordinary shares of £1.00 each
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Related party transactions
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Included within other creditors due after one year is an amount totalling £630,692 (2024: £984,293) owed to the director of the company.
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The ultimate controlling party during the year and at the year end was Mr G A Hillman.
The auditors' report on the financial statements for the year ended 31 January 2025 was unqualified.
The audit report was signed on 29 October 2025 by Mario Cientanni (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.
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N. HILLMAN & SONS CONTRACTORS LIMITED
This page does not form part of the statutory financial statements Page 12
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