John Hilton Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07677828 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

JOHN HILTON LIMITED

TRADING AS

JOHN HILTON

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E G Skinner

M A Foster

REGISTERED OFFICE:

100 Church Street

Brighton

East Sussex

BN1 1UJ

REGISTERED NUMBER:

07677828 (England and Wales)

ACCOUNTANTS:

Paddenburg & Co Limited

100 Church Street

Brighton

East Sussex

BN1 1UJ

FIXED ASSETS

Tangible assets

4

40,026

3,739

Investment property

5

550,000

-

590,026

3,739

CURRENT ASSETS

Debtors

6

13,917

2,079

Cash at bank and in hand

1,268,838

1,424,642

1,282,755

1,426,721

CREDITORS

Amounts falling due within one year

7

964,494

979,125

NET CURRENT ASSETS

318,261

447,596

TOTAL ASSETS LESS CURRENT LIABILITIES

908,287

451,335

CREDITORS

Amounts falling due after more than one year

8

(218,135

)

-

PROVISIONS FOR LIABILITIES

9

(36,058

)

-

NET ASSETS

654,094

451,335

CAPITAL AND RESERVES

Called up share capital

102

102

Revaluation reserve

125,816

-

Retained earnings

528,176

451,233

SHAREHOLDERS' FUNDS

654,094

451,335

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 17 July 2022 and were signed on its behalf by:

M A Foster - Director

E G Skinner - Director

1.	STATUTORY INFORMATION

John Hilton 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 as modified by the revaluation of certain assets.

Turnover

Turnover 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.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 16 (2021 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2021

-

10,467

3,458

13,925

Additions

35,470

-

2,889

38,359

At 31 March 2022

35,470

10,467

6,347

52,284

DEPRECIATION

At 1 April 2021

-

9,070

1,116

10,186

Charge for year

1,210

349

513

2,072

At 31 March 2022

1,210

9,419

1,629

12,258

NET BOOK VALUE

At 31 March 2022

34,260

1,048

4,718

40,026

At 31 March 2021

-

1,397

2,342

3,739

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

394,671

Revaluations

155,329

At 31 March 2022

550,000

NET BOOK VALUE

At 31 March 2022

550,000

Fair value at 31 March 2022 is represented by:

£

Valuation in 2022

155,329

Cost

394,671

550,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

11,533

-

Other debtors

500

2,079

Directors' loan accounts

1,884

-

13,917

2,079

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

10,240

-

Trade creditors

8,760

4,138

Client accounts

853,022

874,194

Tax

46,437

47,955

Social security and other taxes

(89

)

453

VAT

30,426

35,963

Other creditors

-

2,500

Pension liability

2,240

1,742

Directors' loan accounts

6,958

7,180

Accrued expenses

6,500

5,000

964,494

979,125

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 1-2 years

12,783

-

Bank loans - 2-5 years

41,618

-

Bank loans more 5 yr by instal

163,734

-

218,135

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

163,734

-

9.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

36,058

-

Deferred

tax

£

Accelerated capital allowances

36,058

Balance at 31 March 2022

36,058

10.	RELATED PARTY DISCLOSURES

In the year under review, the company paid rents totalling £10,000 (2021: £10,000) to Mr E Skinner.

11.	ULTIMATE CONTROLLING PARTY

The company's directors each own half of the share capital, therefore, the company is not under the control of any one party.