Hill & Sons(Botley & Denmead)limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00403721 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

HILL & SONS(BOTLEY & DENMEAD)LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S A Hill

C D Cook

SECRETARY:

Mrs S A Hill

REGISTERED OFFICE:

Hillsons Road

Bottings Industrial Estate

Curdridge

Southampton

Hampshire

SO30 2GE

REGISTERED NUMBER:

00403721 (England and Wales)

ACCOUNTANTS:

Compass Accountants Limited

Chartered Accountants

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

BANKERS:

Santander

21 Prescot Street

London

E1 8AD

FIXED ASSETS

Property, plant and equipment

4

40,552

2,707

Investment property

5

2,621,262

1,400,000

2,661,814

1,402,707

CURRENT ASSETS

Debtors

6

19,800

1,291,085

Cash at bank

6,479

-

26,279

1,291,085

CREDITORS

Amounts falling due within one year

7

195,753

187,015

NET CURRENT (LIABILITIES)/ASSETS

(169,474

)

1,104,070

TOTAL ASSETS LESS CURRENT LIABILITIES

2,492,340

2,506,777

PROVISIONS FOR LIABILITIES

7,457

514

NET ASSETS

2,484,883

2,506,263

CAPITAL AND RESERVES

Called up share capital

9

12,132

12,132

Fair value reserve

10

616,791

616,791

Capital redemption reserve

10

7,168

7,168

Retained earnings

10

1,848,792

1,870,172

SHAREHOLDERS' FUNDS

2,484,883

2,506,263

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th November 2023 and were signed on its behalf by:

Mrs S A Hill - Director

1.	STATUTORY INFORMATION

Hill & Sons(Botley & Denmead)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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Computer equipment

-

33.3% on cost

Investment property

Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

All properties are held for their investment potential and are not depreciated. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The directors consider that to depreciate them would not give a true and fair view. Depreciation is only one amongst many factors reflected in the valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the accounts giving a true and fair view.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Revaluation reserve

Surpluses and deficits, to the extent that any deficit is regarded as temporary, arising from the valuations of properties are taken direct to the revaluation reserve. Where a permanent diminution in the value of an individual property is identified, the deficit is eliminated first against any revaluation reserve in respect of that property with any excess being charged to the profit and loss account. Valuation surpluses or deficits realised on sale are transferred from the revaluation reserve to the profit and loss account.

Basic 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 1A to all of its financial instruments.

Financial instruments are recognised 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, where 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.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1st July 2022

18,450

558

19,008

Additions

51,183

-

51,183

At 30th June 2023

69,633

558

70,191

DEPRECIATION

At 1st July 2022

15,743

558

16,301

Charge for year

13,338

-

13,338

At 30th June 2023

29,081

558

29,639

NET BOOK VALUE

At 30th June 2023

40,552

-

40,552

At 30th June 2022

2,707

-

2,707

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st July 2022

1,400,000

Additions

1,221,262

At 30th June 2023

2,621,262

NET BOOK VALUE

At 30th June 2023

2,621,262

At 30th June 2022

1,400,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2022

2021

£

£

Cost

1,310,107

1,310,107

The investment properties were valued on an open market basis in January 2020 by VAS for the purposes of remortgaging the premises.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade debtors

2,435

10,305

Other debtors

17,365

1,280,780

19,800

1,291,085

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Bank loans and overdrafts

-

18,847

Trade creditors

3,685

14,219

Taxation and social security

46,777

69,921

Other creditors

145,291

84,028

195,753

187,015

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.23

30.6.22

£

£

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.23

30.6.22

value:

£

£

7,132

Ordinary

£1

7,132

9,355

200

Ordinary B

£1

200

200

2,575

Ordinary C

£1

2,575

2,577

2

Ordinary E

£1

2

-

2,223

Ordinary D

£1

2,223

-

12,132

12,132

10.

RESERVES

Fair

Capital

Retained

value

redemption

earnings

reserve

reserve

Totals

£

£

£

£

At 1st July 2022

1,870,172

616,791

7,168

2,494,131

Profit for the year

68,444

68,444

Dividends

(89,824

)

(89,824

)

At 30th June 2023

1,848,792

616,791

7,168

2,472,751

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th June 2023 and 30th June 2022:

30.6.23

30.6.22

£

£

Mrs S A Hill

Balance outstanding at start of year

(28,912

)

(9,020

)

Amounts advanced

62,070

73,941

Amounts repaid

(50,654

)

(93,833

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(17,496

)

(28,912

)

12.	RELATED PARTY DISCLOSURES

The ultimate controlling party is Mrs S Hill who holds 75% of the share capital of the company.