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Registration number: 11992170

Hilltop Property Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Hilltop Property Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Hilltop Property Ltd

Company Information

Directors

Mr I E Toft

Mrs S L Toft

Registered office

1 Bond Street
Colne
Lancashire
BB8 9DG

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hilltop Property Ltd
for the Year Ended 31 January 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hilltop Property Ltd for the year ended 31 January 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Hilltop Property Ltd, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Hilltop Property Ltd and state those matters that we have agreed to state to the Board of Directors of Hilltop Property Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hilltop Property Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hilltop Property Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Hilltop Property Ltd. You consider that Hilltop Property Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Hilltop Property Ltd. 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 accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

26 October 2023

 

Hilltop Property Ltd

(Registration number: 11992170)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

234,183

234,183

Current assets

 

Cash at bank and in hand

 

2,429

3,206

Creditors: Amounts falling due within one year

5

(7,324)

(2,514)

Net current (liabilities)/assets

 

(4,895)

692

Total assets less current liabilities

 

229,288

234,875

Creditors: Amounts falling due after more than one year

5

(242,720)

(238,967)

Net liabilities

 

(13,432)

(4,092)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(13,433)

(4,093)

Shareholders' deficit

 

(13,432)

(4,092)

 

Hilltop Property Ltd

(Registration number: 11992170)
Balance Sheet as at 31 January 2023

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 October 2023 and signed on its behalf by:
 

.........................................
Mr I E Toft
Director

.........................................
Mrs S L Toft
Director

 

Hilltop Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

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

The address of its registered office is:
1 Bond Street
Colne
Lancashire
BB8 9DG

These financial statements were authorised for issue by the Board on 26 October 2023.

2

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.
The company is reliant upon the support of its directors. The directors have a reasonable expectation that the company has adequate resources available to continue in operational existence for the foreseeable future, thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Depreciation

Asset class

Depreciation method and rate

Fixtures & fittings

15% reducing balance

Investment property

Investment properties are held to earn rentals and/or capital appreciation. Investment properties are
initially measured at cost, including transaction costs.

Subsequently investment properties are measured at fair value. Investment property valuations are
based on open market value. Gains and losses arising in changes in fair value of investment
properties are included in the Statement of Income and Retained Earnings in the period in which they
arise.

 

Hilltop Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 February

234,183

At 31 January

234,183

There has been no valuation of investment property by an independent valuer.

 

Hilltop Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6

5,475

-

Trade creditors

 

28

-

Accruals and deferred income

 

1,821

2,514

 

7,324

2,514

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

242,720

238,967

 

Hilltop Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

6

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

154,850

162,511

Other borrowings

87,870

76,456

242,720

238,967

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,475

-

Bank loans are secured by a fixed charge over the company's assets.