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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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Hill Communications Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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for |
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Hill Communications Limited |
Hill Communications Limited (Registered number: 02721945) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 5 |
Hill Communications Limited |
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Company Information |
for the Year Ended 31 March 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
4 Claridge Court |
Lower Kings Road |
Berkhamsted |
Hertfordshire |
HP4 2AF |
Hill Communications Limited (Registered number: 02721945) |
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Abridged Balance Sheet |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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Hill Communications Limited (Registered number: 02721945) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Hill Communications Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared on a going concern basis, the directors believe that this is a |
valid basis for preparation. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
Hill Communications Limited (Registered number: 02721945) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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3. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
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AMORTISATION |
At 1 April 2017 |
and 31 March 2018 |
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NET BOOK VALUE |
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At 31 March 2018 |
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At 31 March 2017 |
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4. | SECURED DEBTS |
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A fixed and floating charge exists at Companies House for the trustees of the G L Portwin (JDP) |
Personal Settlement Trust for £178,000 due or to become due from the company to the chargee. |
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A fixed and floating charge exists at Companies House for Barclays Bank PLC on all monies due or |
to become due from the company to the chargee on any account whatsoever. |
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5. | RELATED PARTY DISCLOSURES |
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Shares of the company are owned by Trustees of G E L Portwin (GELP) personal settlement (86.5%), |
G E L Portwin (LMP) personal settlement (7%) and G E L Portwin (ELP) personal settlement (6.5%). |
Mr G L Portwin is a trustee, settlor and one of the beneficiaries in those trusts. |
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During the year the company made interest payments of £10,391 (2017 - £7,444) to the trusts. The |
loan outstanding at the year end was £108,007 (2017 - £108,007). |
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During the year turnover of £10,000 (2017 - £10,000) was attributable to Hill Media Limited. |
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At the year-end an amount of £37,731 (2017 - £37,675) was due to the company from Hill Media |
Limited. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Hill Communications Limited |
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The following reproduces the text of the report prepared for the directors in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the |
company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement |
and certain other primary statements and the Report of the Directors are not required to be filed |
with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your |
approval the financial statements of Hill Communications Limited for the year ended 31 March 2018 which |
comprise the Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes |
from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Hill Communications Limited, as a body, in accordance with the terms of our engagement letter dated 9 March 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Hill Communications Limited and state those matters that we have agreed to state to the Board of Directors of Hill Communications Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hill Communications Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Hill Communications Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hill Communications Limited. You consider that Hill Communications Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Hill Communications Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
4 Claridge Court |
Lower Kings Road |
Berkhamsted |
Hertfordshire |
HP4 2AF |
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