Registered number: 12714143
Unaudited
For the Year Ended 31 July 2025
Company Information
Contents
Balance Sheet
As at 31 July 2025
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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
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Balance Sheet (continued)
As at 31 July 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 April 2026 .
The notes on pages 3 to 8 form part of these financial statements.
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Notes to the Financial Statements
For the Year Ended 31 July 2025
Hill Helicopters Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales under the Companies Act. The registered number of the company is 12714143 and its registered office is Unit 3 Shackleton Way, Stafford, Staffordshire, ST16 1GY. The principal activity of the company is the sale of private luxury helicopters.
2.Accounting policies
The financial statements are presented in the Company's functional currency of GBP (Sterling). They are prepared to the nearest £1.
The following principal accounting policies have been applied:
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Hill Group Holdings Limited as at 31 July 2025 and these financial statements may be obtained from Unit 3 Shackleton Way, Stafford, Staffordshire, ST16 1GY.
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Notes to the Financial Statements
For the Year Ended 31 July 2025
2.Accounting policies (continued)
The company has, as planned, recorded a loss before tax of £8.1m (2024 - £10.2m) after expensing design and development costs recharged from within the group. During the year the total income generated in the form of deposits totalled £8.9m from 205 units. These deposits are currently held in deferred income on the balance sheet and will be realised on delivery in future periods. Since the balance sheet date (as at 31 December 2025) the directors have successfully secured further sales of 33 units (therefore total sales to date of 1,423 units). This has generated income in the form of deposits of £1.2m. The current total order book value for 1,423 units is £702.7m
The structure of the sale and purchase agreements and the timing of the deposits and payments is designed to generate sufficient cashflow for each phase of the design, development, production and delivery of the HX50/HC50 helicopter to market. The directors carefully monitor and manage cashflows to ensure liquidity at each phase.
In doing so, the directors have prepared cashflow forecasts, covering a period extending beyond 12 months from the date of approval of these financial statements, taking account of anticipated costs, expected revenues and funds raised. These forecasts demonstrate that the company can operate within the finance facilities available to it for a period of at least 12 months from the date of approval of these financial statements and therefore the directors consider it appropriate to prepare the company's financial statements on a going concern basis.
The structure of the sale and purchase agreements and the timing of the deposits and payments is designed to generate sufficient cashflow for each phase of the design, development, production and delivery of the HX50/HC50 helicopter to market. The directors carefully monitor and manage cashflows to ensure liquidity at each phase.
In doing so, the directors have prepared cashflow forecasts, covering a period extending beyond 12 months from the date of approval of these financial statements, taking account of anticipated costs, expected revenues and funds raised. These forecasts demonstrate that the company can operate within the finance facilities available to it for a period of at least 12 months from the date of approval of these financial statements and therefore the directors consider it appropriate to prepare the company's financial statements on a going concern basis.
Functional and presentation currency
Transactions and balances
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Notes to the Financial Statements
For the Year Ended 31 July 2025
2.Accounting policies (continued)
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Notes to the Financial Statements
For the Year Ended 31 July 2025
2.Accounting policies (continued)
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic 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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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Notes to the Financial Statements
For the Year Ended 31 July 2025
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Notes to the Financial Statements
For the Year Ended 31 July 2025
The group’s share capital is held wholly by the directors, J L Hill and I S Hill, in equal proportions, therefore there is no one ultimate controlling party.
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