REGISTERED NUMBER:
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P.A.HILTON LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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REGISTERED NUMBER:
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P.A.HILTON LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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P.A.HILTON LIMITED (REGISTERED NUMBER: 00743785) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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P.A.HILTON LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BANKERS: |
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Mountbatten House |
Grosvenor Square |
Southampton |
Hampshire |
SO15 2JU |
P.A.HILTON LIMITED (REGISTERED NUMBER: 00743785) |
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BALANCE SHEET |
31 MARCH 2020 |
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2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Stocks | 7 |
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Debtors | 8 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 9 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
10 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings - non distributable |
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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 |
(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. |
P.A.HILTON LIMITED (REGISTERED NUMBER: 00743785) |
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BALANCE SHEET - continued |
31 MARCH 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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P.A.HILTON LIMITED (REGISTERED NUMBER: 00743785) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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1. | STATUTORY INFORMATION |
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P.A.Hilton Limited is a
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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 |
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards |
applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as |
applicable to companies subject to the small companies' regime. |
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The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure |
is required to show a true and fair view. |
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The financial statements are prepared in sterling, which is the functional currency of the company. Monetary |
amounts in these financial statements are rounded to the nearest £1. |
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The financial statements have been prepared under the historical cost convention, modified to include certain |
financial instruments at fair value. The principal accounting policies adopted are set out below. |
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Going concern |
The directors have considered the impact and risk of COVID-19 on the company and the company's prospects, |
recognising the high degree of uncertainty. The directors have concluded that with the right management actions |
the company is a going concern for at least 12 months following the signature of the financial statements. |
Accordingly the directors have prepared the financial statements on this basis. |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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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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Tangible fixed assets and depreciation |
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Freehold property | - |
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Leasehold property | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and |
the carrying value of the asset and is recognised in the income statement. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
P.A.HILTON LIMITED (REGISTERED NUMBER: 00743785) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Stock and work in progress |
Stock and work in progress are stated at the lower of cost and net realisable value. |
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Cost is calculated as follows:- |
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Raw materials and bought out parts | Cost of goods per the suppliers invoice of the latest |
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quantity of materials and parts supplied. Provision is
made against slow moving and obsolete stock. |
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Work in progress and finished | Raw materials and bought out parts as above |
products | plus labour charged to work in progress at actual |
hourly rates plus production overheads. |
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Financial assets |
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 |
'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial assets are recognised in the company's statement of financial position when the company becomes |
party to the contractual provisions of the instrument. |
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Basic financial assets, which include trade and other receivables and cash and bank balances are initially |
measured at transaction price including transaction costs and are subsequently carried at amortised cost using the |
effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is |
measured at the present value of the future receipts discounted at a market rate of interest. |
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Financial liabilities |
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and |
subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the |
debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
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Equity instruments |
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct |
issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the |
discretion of the company. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme for the directors and separate schemes for the |
employees. The assets of the schemes are held separately from those of the company in independently |
administered funds. Contributions payable for the year are charged in the profit and loss account. |
P.A.HILTON LIMITED (REGISTERED NUMBER: 00743785) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 April 2019 |
and 31 March 2020 |
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AMORTISATION |
At 1 April 2019 |
and 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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5. | TANGIBLE FIXED ASSETS |
Freehold | Leasehold | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 April 2019 |
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Additions |
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Disposals |
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At 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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P.A.HILTON LIMITED (REGISTERED NUMBER: 00743785) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2019 |
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Additions |
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Disposals | ( |
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At 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 April 2019 |
and 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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The company owns 100% of the ordinary shares in Hilton Energy and Thermal Technology Limited, and |
Hi-Tech Limited, companies incorporated in England and Wales. Neither subsidiary traded during the year. |
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7. | STOCKS |
2020 | 2019 |
£ | £ |
Raw materials stock and consumables |
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Work-in-progress |
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Finished goods and goods for resale |
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P.A.HILTON LIMITED (REGISTERED NUMBER: 00743785) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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10. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans repayable in more than five years | - | 21,981 |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Bank loans |
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The bank loan is secured by a legal first charge over the company's freehold property. |
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12. | CONTINGENT LIABILITIES |
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At the year end a legal claim against the company was ongoing in France, relating to a dispute with an agent |
alleging that the company were in breach of a contract for which damages of €500k were sought. As the |
outcome of the claim is unknown, no provision has been made. |
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There is a contingent liability in respect of a guarantee given by the company's bankers of £30,000 (2019: |
£30,000). No liability is expected to arise in respect of this guarantee. |
P.A.HILTON LIMITED (REGISTERED NUMBER: 00743785) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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13. | RELATED PARTY DISCLOSURES |
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The Hilton Share Trust |
Controlling Party |
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The company formed an employee share trust on the 15th December 1995 with a view to encouraging employees |
of the group to benefit from a holding of shares in the company and thereby to develop a closer identity of |
purpose with the group. |
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The Trustees have no beneficial interest in any of the shares held by the trust. No employee has any conditional |
or unconditional rights in any of the shares. |
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The Trustees of the Hilton Share Trust control the company by virtue of their holding which represents 86.03% |
of the shares in issue. |
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14. | POST BALANCE SHEET EVENTS |
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The impact on the company subsequent to the balance sheet date as a result of the steps taken by the Government |
in March 2020 to control the COVID-19 pandemic is uncertain. This is the case for the majority of businesses in |
the UK and around the World. |
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The directors do not consider that the COVID-19 pandemic has had a material impact on the company's financial |
position at the balance sheet date and thus no adjustments have been made to the carrying values of the |
company's assets and liabilities as at 31 March 2020. |