21
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2020-10-01
Sage Accounts Production Advanced 2021 - FRS102_2021
3,000
2,999
1
1
xbrli:pure
xbrli:shares
iso4217:GBP
03960059
2020-10-01
2021-09-30
03960059
2021-09-30
03960059
2020-09-30
03960059
2019-10-01
2020-09-30
03960059
2020-09-30
03960059
core:FurnitureFittings
2020-10-01
2021-09-30
03960059
core:MotorVehicles
2020-10-01
2021-09-30
03960059
bus:RegisteredOffice
2020-10-01
2021-09-30
03960059
bus:LeadAgentIfApplicable
2020-10-01
2021-09-30
03960059
bus:Director1
2020-10-01
2021-09-30
03960059
bus:CompanySecretary1
2020-10-01
2021-09-30
03960059
core:NetGoodwill
2021-09-30
03960059
core:FurnitureFittings
2020-09-30
03960059
core:MotorVehicles
2020-09-30
03960059
core:FurnitureFittings
2021-09-30
03960059
core:MotorVehicles
2021-09-30
03960059
core:WithinOneYear
2021-09-30
03960059
core:WithinOneYear
2020-09-30
03960059
core:AfterOneYear
2021-09-30
03960059
core:AfterOneYear
2020-09-30
03960059
core:ShareCapital
2021-09-30
03960059
core:ShareCapital
2020-09-30
03960059
core:RetainedEarningsAccumulatedLosses
2021-09-30
03960059
core:RetainedEarningsAccumulatedLosses
2020-09-30
03960059
core:NetGoodwill
2020-09-30
03960059
core:FurnitureFittings
2020-09-30
03960059
core:MotorVehicles
2020-09-30
03960059
core:FurnitureFittings
core:LeasedAssetsHeldAsLessee
2021-09-30
03960059
core:LeasedAssetsHeldAsLessee
core:MotorVehicles
2021-09-30
03960059
core:LeasedAssetsHeldAsLessee
2021-09-30
03960059
core:FurnitureFittings
core:LeasedAssetsHeldAsLessee
2020-09-30
03960059
core:LeasedAssetsHeldAsLessee
core:MotorVehicles
2020-09-30
03960059
core:LeasedAssetsHeldAsLessee
2020-09-30
03960059
bus:SmallEntities
2020-10-01
2021-09-30
03960059
bus:AuditExempt-NoAccountantsReport
2020-10-01
2021-09-30
03960059
bus:FullAccounts
2020-10-01
2021-09-30
03960059
bus:SmallCompaniesRegimeForAccounts
2020-10-01
2021-09-30
03960059
bus:PrivateLimitedCompanyLtd
2020-10-01
2021-09-30
03960059
core:NetGoodwill
2020-10-01
2021-09-30
COMPANY REGISTRATION NUMBER:
03960059
FILLETED UNAUDITED FINANCIAL STATEMENTS
|
|
PERIOD ENDED 30 SEPTEMBER 2021
Officers and professional advisers
|
1
|
|
|
Statement of financial position
|
2
|
|
|
Notes to the financial statements
|
4
|
|
|
OFFICERS AND PROFESSIONAL ADVISERS
|
|
Company secretary
|
Mrs L Matraxia
|
|
|
Registered office
|
Lynton House
|
|
7-12 Tavistock Square
|
|
London
|
|
United Kingdom
|
|
WC1H 9BQ
|
|
|
Accountants
|
BSG Valentine (UK) LLP
|
|
Chartered Accountants
|
|
Lynton House
|
|
7 - 12 Tavistock Square
|
|
London
|
|
WC1H 9BQ
|
|
|
STATEMENT OF FINANCIAL POSITION
|
|
30 September 2021
FIXED ASSETS
Intangible assets
|
5
|
|
1
|
|
1
|
Tangible assets
|
6
|
|
212,907
|
|
273,240
|
|
|
---------
|
|
---------
|
|
|
212,908
|
|
273,241
|
|
|
|
|
|
|
CURRENT ASSETS
Stocks
|
60,500
|
|
46,404
|
|
Debtors
|
7
|
415,452
|
|
499,800
|
|
Cash at bank and in hand
|
208,501
|
|
153,412
|
|
|
---------
|
|
---------
|
|
|
684,453
|
|
699,616
|
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year
|
8
|
(
761,140)
|
|
(
729,183)
|
|
|
---------
|
|
---------
|
|
NET CURRENT LIABILITIES
|
|
(
76,687)
|
|
(
29,567)
|
|
|
---------
|
|
---------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
|
136,221
|
|
243,674
|
|
|
|
|
|
|
CREDITORS: amounts falling due after more than one year
|
9
|
|
(
76,573)
|
|
(
139,069)
|
|
|
---------
|
|
---------
|
NET ASSETS
|
|
59,648
|
|
104,605
|
|
|
---------
|
|
---------
|
|
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital
|
|
2
|
|
2
|
Profit and loss account
|
|
59,646
|
|
104,603
|
|
|
--------
|
|
---------
|
SHAREHOLDERS FUNDS
|
|
59,648
|
|
104,605
|
|
|
--------
|
|
---------
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
STATEMENT OF FINANCIAL POSITION (continued)
|
|
30 September 2021
These financial statements were approved by the
board of directors
and authorised for issue on
13 June 2022
, and are signed on behalf of the board by:
Company registration number:
03960059
NOTES TO THE FINANCIAL STATEMENTS
|
|
PERIOD ENDED 30 SEPTEMBER 2021
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ, United Kingdom.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings
|
-
|
25% reducing balance
|
|
Motor vehicles
|
-
|
25% reducing balance
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
21
(2020:
22
).
5.
Intangible assets
|
Goodwill
|
|
£
|
Cost
|
|
At 1 October 2020 and 30 September 2021
|
3,000
|
|
-------
|
Amortisation
|
|
At 1 October 2020 and 30 September 2021
|
2,999
|
|
-------
|
Carrying amount
|
|
At 30 September 2021
|
1
|
|
-------
|
At 30 September 2020
|
1
|
|
-------
|
|
|
6.
Tangible assets
|
Fixtures and fittings
|
Motor vehicles
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 October 2020
|
401,105
|
170,519
|
571,624
|
Additions
|
14,441
|
–
|
14,441
|
Disposals
|
(
8,801)
|
–
|
(
8,801)
|
|
---------
|
---------
|
---------
|
At 30 September 2021
|
406,745
|
170,519
|
577,264
|
|
---------
|
---------
|
---------
|
Depreciation
|
|
|
|
At 1 October 2020
|
218,909
|
79,475
|
298,384
|
Charge for the period
|
47,266
|
22,761
|
70,027
|
Disposals
|
(
4,054)
|
–
|
(
4,054)
|
|
---------
|
---------
|
---------
|
At 30 September 2021
|
262,121
|
102,236
|
364,357
|
|
---------
|
---------
|
---------
|
Carrying amount
|
|
|
|
At 30 September 2021
|
144,624
|
68,283
|
212,907
|
|
---------
|
---------
|
---------
|
At 30 September 2020
|
182,196
|
91,044
|
273,240
|
|
---------
|
---------
|
---------
|
|
|
|
|
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
|
Fixtures and fittings
|
Motor vehicles
|
Total
|
|
£
|
£
|
£
|
At 30 September 2021
|
147,552
|
49,184
|
196,736
|
|
---------
|
--------
|
---------
|
At 30 September 2020
|
162,206
|
34,529
|
196,735
|
|
---------
|
--------
|
---------
|
|
|
|
|
7.
Debtors
|
2021
|
2020
|
|
£
|
£
|
Trade debtors
|
260,322
|
369,374
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
124,992
|
100,329
|
Other debtors
|
30,138
|
30,097
|
|
---------
|
---------
|
|
415,452
|
499,800
|
|
---------
|
---------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2021
|
2020
|
|
£
|
£
|
Bank loans and overdrafts
|
10,000
|
2,500
|
Trade creditors
|
288,694
|
230,269
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
46,398
|
41,570
|
Corporation tax
|
15,338
|
19,842
|
Social security and other taxes
|
26,142
|
60,180
|
Other creditors
|
374,568
|
374,822
|
|
---------
|
---------
|
|
761,140
|
729,183
|
|
---------
|
---------
|
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2021
|
2020
|
|
£
|
£
|
Bank loans and overdrafts
|
37,500
|
47,500
|
Other creditors
|
39,073
|
91,569
|
|
--------
|
---------
|
|
76,573
|
139,069
|
|
--------
|
---------
|
|
|
|
10.
Related party transactions
The company has taken advantage of the exemption allowed under the Financial Reporting Standard 102 not to disclose related party transactions between wholly owned members of the same group of companies.
11.
Controlling party
At 30 September 21 the director considers the ultimate parent company to be Roma Marble Holdings Limited, a company registered in England and Wales. Roma Marble Holdings Limited is the parent company of the largest and smallest group of which Hillton Limited is a member. Group financial statements are not prepared as the group has taken advantage of the exemptions available to a small sized group.