Company Registration No. 07587017 (England and Wales)
K HILL & PARTNERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
Vivian House
Newham Road
Truro
Cornwall
United Kingdom
TR1 2DP
K HILL & PARTNERS LIMITED
CONTENTS
Page
Company information
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
K HILL & PARTNERS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
43,200
50,400
Tangible assets
5
478,902
378,540
522,102
428,940
Current assets
Stocks
6,900
6,468
Debtors
6
685,030
630,218
Cash at bank and in hand
403,775
396,379
1,095,705
1,033,065
Creditors: amounts falling due within one year
7
(257,663)
(337,483)
Net current assets
838,042
695,582
Total assets less current liabilities
1,360,144
1,124,522
Creditors: amounts falling due after more than one year
8
(9,992)
-
0
Provisions for liabilities
(117,577)
(94,448)
Net assets
1,232,575
1,030,074
Capital and reserves
Called up share capital
90
90
Profit and loss reserves
1,232,485
1,029,984
Total equity
1,232,575
1,030,074
K HILL & PARTNERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

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

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 10 November 2025 and are signed on its behalf by:
Mr Izaak Hill
Director
Company registration number 07587017 (England and Wales)
K HILL & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

K Hill & Partners Limited is a private company limited by shares incorporated in England and Wales. The registered office is Primrose Cottage, Warleggan, Bodmin, Cornwall, England, PL30 4HB.

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 under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is [XXXX].

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

K HILL & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
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:

Freehold land and buildings
10 uears straight line basis
Plant and equipment
15% reducing balance, 5 year straight line and 8 year straight line.
Fixtures and fittings
15% reducing balance
Computers
15% reducing balance, 3 years straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

K HILL & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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. Bank overdrafts are shown within borrowings in current liabilities.

1.8
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.

1.9
Taxation

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

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.

K HILL & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
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.

1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

K HILL & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
3
Employees

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

2025
2024
Number
Number
Total
27
29
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
144,000
Amortisation and impairment
At 1 April 2024
93,600
Amortisation charged for the year
7,200
At 31 March 2025
100,800
Carrying amount
At 31 March 2025
43,200
At 31 March 2024
50,400
K HILL & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
3,100
796,277
799,377
Additions
6,450
213,752
220,202
Disposals
-
0
(71,417)
(71,417)
At 31 March 2025
9,550
938,612
948,162
Depreciation and impairment
At 1 April 2024
-
0
420,837
420,837
Depreciation charged in the year
955
96,574
97,529
Eliminated in respect of disposals
-
0
(49,106)
(49,106)
At 31 March 2025
955
468,305
469,260
Carrying amount
At 31 March 2025
8,595
470,307
478,902
At 31 March 2024
3,100
375,440
378,540

Assets acquired using hire purchase arrangements had carrying values of £19,859 at 31 March 2025. (2024: £nil.) The depreciation charge applicable to these asset was £6,620. (2024: £nil.)

The assets acquired under hire purchase are security in respect of the underlying hire purchase liability.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
662,722
621,499
Other debtors
22,308
8,719
685,030
630,218
K HILL & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
53,888
54,626
Corporation tax
143,806
137,904
Other taxation and social security
15,303
115,736
Other creditors
44,666
29,217
257,663
337,483
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
9,992
-
0
9
Hire purchase obligations
2025
2024
Future minimum lease payments due under hire purchase
£
£
Within one year
4,441
-
0
In two to five years
9,992
-
0
14,433
-
0

Hire purchase payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets.

All liabilities are secured upon the assets purchased.

10
Related party transactions

A Director was owed £35,093 (2024: £20,629) by the company at 31 March 2025. The amount owing to the company was free of interest and repayable on demand.

Two Directors owed the company £13,394 at 31 March 2025. (2024: the two Directors were owed £3,161 by the company.) The loan owed by the Directors were free of interest and repayable on demand.

2025-03-31 2024-04-01 false false false 10 November 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr Alec Hill Mr Izaak Hill Mr Keith Hill 07587017 2024-04-01 2025-03-31 07587017 2025-03-31 07587017 2024-03-31 07587017 core:NetGoodwill 2025-03-31 07587017 core:NetGoodwill 2024-03-31 07587017 core:LandBuildings 2025-03-31 07587017 core:OtherPropertyPlantEquipment 2025-03-31 07587017 core:LandBuildings 2024-03-31 07587017 core:OtherPropertyPlantEquipment 2024-03-31 07587017 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 07587017 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07587017 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 07587017 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 07587017 core:CurrentFinancialInstruments 2025-03-31 07587017 core:CurrentFinancialInstruments 2024-03-31 07587017 core:ShareCapital 2025-03-31 07587017 core:ShareCapital 2024-03-31 07587017 core:RetainedEarningsAccumulatedLosses 2025-03-31 07587017 core:RetainedEarningsAccumulatedLosses 2024-03-31 07587017 bus:Director2 2024-04-01 2025-03-31 07587017 core:Goodwill 2024-04-01 2025-03-31 07587017 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 07587017 core:PlantMachinery 2024-04-01 2025-03-31 07587017 core:FurnitureFittings 2024-04-01 2025-03-31 07587017 core:ComputerEquipment 2024-04-01 2025-03-31 07587017 core:MotorVehicles 2024-04-01 2025-03-31 07587017 2023-04-01 2024-03-31 07587017 core:NetGoodwill 2024-03-31 07587017 core:NetGoodwill 2024-04-01 2025-03-31 07587017 core:LandBuildings 2024-03-31 07587017 core:OtherPropertyPlantEquipment 2024-03-31 07587017 2024-03-31 07587017 core:LandBuildings 2024-04-01 2025-03-31 07587017 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 07587017 core:Non-currentFinancialInstruments 2025-03-31 07587017 core:Non-currentFinancialInstruments 2024-03-31 07587017 core:WithinOneYear 2025-03-31 07587017 core:WithinOneYear 2024-03-31 07587017 core:BetweenTwoFiveYears 2025-03-31 07587017 core:BetweenTwoFiveYears 2024-03-31 07587017 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07587017 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 07587017 bus:FRS102 2024-04-01 2025-03-31 07587017 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 07587017 bus:Director1 2024-04-01 2025-03-31 07587017 bus:Director3 2024-04-01 2025-03-31 07587017 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP