Hilton Forecourts Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07142708 (England and Wales)

Hilton Forecourts Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Sohel Patel

REGISTERED OFFICE:

Unit 1,2 & 8 Sunnyside Business Park

Off Adelaide Street

Bolton

Lancashire

England

BL3 3NY

REGISTERED NUMBER:

07142708 (England and Wales)

ACCOUNTANTS:

DSM CA LTD

The Station House

Station Road

Whalley

Clitheroe

Lancashire

BB7 9RT

FIXED ASSETS

Tangible assets

5

2,658

3,323

CURRENT ASSETS

Debtors

6

8,683

8,881

CREDITORS

Amounts falling due within one year

7

(100,048

)

(98,424

)

NET CURRENT LIABILITIES

(91,365

)

(89,543

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(88,707

)

(86,220

)

CREDITORS

Amounts falling due after more than one year

8

(39,060

)

(39,060

)

NET LIABILITIES

(127,767

)

(125,280

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(127,768

)

(125,281

)

(127,767

)

(125,280

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 May 2024 and were signed by:

Mr Sohel Patel - Director

1.	GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:

Unit 1,2 & 8 Sunnyside Business Park

Off Adelaide Street

Bolton

Lancashire

BL3 3NY

England

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

BASIS OF PREPARATION

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

GOING CONCERN

The financial statements have been prepared on a going concern basis. It is expected that the director will support the business as and when necessary.

REVENUE RECOGNITION

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

TANGIBLE FIXED ASSETS

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

Plant and machinery

-

20% on reducing balance

CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

SHARE CAPITAL

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 March 2023

and 29 February 2024

31,492

DEPRECIATION

At 1 March 2023

28,169

Charge for year

665

At 29 February 2024

28,834

NET BOOK VALUE

At 29 February 2024

2,658

At 28 February 2023

3,323

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

8,683

8,683

Prepayments

-

198

8,683

8,881

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 9)

11,128

10,524

Trade creditors

(7

)

-

Amounts owed to participating interests

63,480

62,453

VAT

3,025

3,025

Directors' current accounts

21,402

21,402

Accrued expenses

1,020

1,020

100,048

98,424

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 9)

39,060

39,060

9.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

1,128

524

Bank loans

10,000

10,000

11,128

10,524

Amounts falling due between one and two years:

Bounce back loan

39,060

39,060