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Company Registration No. 11019259 (England and Wales)
Hillcrest Nottingham Ltd Unaudited accounts for the year ended 31 March 2023
Hillcrest Nottingham Ltd Unaudited accounts Contents
Page
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Hillcrest Nottingham Ltd Company Information for the year ended 31 March 2023
Directors
Gurmit Singh Landa Asha Kaur Landa
Company Number
11019259 (England and Wales)
Registered Office
326-330 Hucknall Road Sherwood Nottingham Nottinghamshire NG5 1FS ENGLAND
Accountants
Net Accountancy Solutions Limited 35 Gripps Common Cotgrave Nottingham Nottinghamshire NG12 3TF
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Hillcrest Nottingham Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,735 
4,605 
Investment property
4,177,998 
4,253,020 
4,183,733 
4,257,625 
Current assets
Debtors
403,188 
397,818 
Cash at bank and in hand
184,343 
76,052 
587,531 
473,870 
Creditors: amounts falling due within one year
(635,554)
(552,537)
Net current liabilities
(48,023)
(78,667)
Total assets less current liabilities
4,135,710 
4,178,958 
Creditors: amounts falling due after more than one year
(1,672,913)
(1,856,822)
Net assets
2,462,797 
2,322,136 
Capital and reserves
Called up share capital
100 
100 
Share premium
2,220,031 
2,220,031 
Profit and loss account
242,666 
102,005 
Shareholders' funds
2,462,797 
2,322,136 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by
Gurmit Singh Landa Director Company Registration No. 11019259
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Hillcrest Nottingham Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Hillcrest Nottingham Ltd is a private company, limited by shares, registered in England and Wales, registration number 11019259. The registered office is 326-330 Hucknall Road, Sherwood, Nottingham, Nottinghamshire, NG5 1FS, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is property held to earn rentals and/or for capital appreciation. Investment property is initially measured at cost, which includes the purchase cost and directly attributable expenditure. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value at the reporting date. The surplus or deficit on revaluation is recognised in profit or loss in the period in which they arise.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
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Hillcrest Nottingham Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2022
8,050 
Additions
3,042 
At 31 March 2023
11,092 
Depreciation
At 1 April 2022
3,445 
Charge for the year
1,912 
At 31 March 2023
5,357 
Net book value
At 31 March 2023
5,735 
At 31 March 2022
4,605 
5
Investment property
2023 
£ 
Fair value at 1 April 2022
4,253,020 
Additions
32,243 
Disposals
(275,721)
Net gain from fair value adjustments
168,456 
At 31 March 2023
4,177,998 
The investment property has been measured at fair value, which is the open market value of the property. The fair value was arrived at by a fully qualified chartered surveyor. The fair value adjustment has been taken through the profit & loss account.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
6,082 
- 
Accrued income and prepayments
387,728 
384,796 
Other debtors
9,378 
13,022 
403,188 
397,818 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
187,164 
80,525 
Trade creditors
34,329 
25,539 
Taxes and social security
7,465 
28,965 
Other creditors
304,103 
415,401 
Loans from directors
102,493 
(746)
Accruals
- 
2,853 
635,554 
552,537 
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Hillcrest Nottingham Ltd Notes to the Accounts for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
1,672,913 
1,856,822 
Aggregate of amounts that fall due for payment after five years
- 
1,534,720 
The company has allowed a floating charge over the company's assets in favour of Handelsbanken, including the investment properties with a carrying amount of £4,219,042 (2022: £4,253,020), as security for the bank loan.
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Interest free loans repayable on demand
746 
18,968 
123,694 
(103,980)
746 
18,968 
123,694 
(103,980)
10
Transactions with related parties
Included in 'other creditors' is an amount of £63,207 (2022: £94,451) owed to A K Property Portfolio LLP a partnership where director G S Landa is the managing partner. 'Other creditors' also includes an amount of £115,628 (2022: £110,628) owed to the family trust which has financed residential building work done by the company. Finally loans totalling £74,075 (2022: £207,375) are owed to various family members. These amounts are interest free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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