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REGISTERED NUMBER: 06746825 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

HILLSIDE HOUSE VENTNOR LIMITED

HILLSIDE HOUSE VENTNOR LIMITED (REGISTERED NUMBER: 06746825)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HILLSIDE HOUSE VENTNOR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: Mr Gert Rolien Bach Nielsen





REGISTERED OFFICE: Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ





REGISTERED NUMBER: 06746825 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

HILLSIDE HOUSE VENTNOR LIMITED (REGISTERED NUMBER: 06746825)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 132,423 347,689
Investments 5 350,000 350,000
Investment property 6 1,986,664 1,976,729
2,469,087 2,674,418

CURRENT ASSETS
Debtors 7 53,465 67,667
Cash at bank 16,765 22,734
70,230 90,401
CREDITORS
Amounts falling due within one year 8 1,125,986 1,157,385
NET CURRENT LIABILITIES (1,055,756 ) (1,066,984 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,413,331

1,607,434

PROVISIONS FOR LIABILITIES 143,824 176,876
NET ASSETS 1,269,507 1,430,558

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Share premium 750,000 750,000
Fair value reserve 673,266 710,400
Retained earnings (178,759 ) (54,842 )
1,269,507 1,430,558

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HILLSIDE HOUSE VENTNOR LIMITED (REGISTERED NUMBER: 06746825)

BALANCE SHEET - continued
31 DECEMBER 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 November 2023 and were signed by:





Mr Gert Rolien Bach Nielsen - Director


HILLSIDE HOUSE VENTNOR LIMITED (REGISTERED NUMBER: 06746825)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Hillside House Ventnor Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements contain information about Hillside House Ventnor Limited as an individual
company.

Turnover
Turnover represents service charges receivable during the accounting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


HILLSIDE HOUSE VENTNOR LIMITED (REGISTERED NUMBER: 06746825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Going concern
At the time of approving the financial statements, the director has confirmed that the company will cease trading within the next twelve months and will no longer be operational. Thus the company has not adopted the going concern basks for the preparation of the financial statements for the year.

Post year end all the assets as shown in the balance sheet are expected to be disposed of and all creditors settled.

Assets have been reviewed for impairment and have been written down to their recoverable amounts where applicable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 January 2022 643,630
Additions 1,039
Impairments (87,397 )
At 31 December 2022 557,272
DEPRECIATION
At 1 January 2022 295,941
Charge for year 128,908
At 31 December 2022 424,849
NET BOOK VALUE
At 31 December 2022 132,423
At 31 December 2021 347,689

HILLSIDE HOUSE VENTNOR LIMITED (REGISTERED NUMBER: 06746825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2022
and 31 December 2022 350,000
NET BOOK VALUE
At 31 December 2022 350,000
At 31 December 2021 350,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Art @ Hillside Limited
Registered office: Hillside Ventnor IOW
Nature of business: Renting & leasing of artwork
%
Class of shares: holding
Ordinary 100.00

30 Pier Street Ventnor Limited
Registered office: Hillside Ventnor IOW
Nature of business: Business Support Services
%
Class of shares: holding
Ordinary 100.00

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 January 2022 1,976,729
Additions 9,935
At 31 December 2022 1,986,664
NET BOOK VALUE
At 31 December 2022 1,986,664
At 31 December 2021 1,976,729

The fair value of the investment property has been arrived at on the basis of a valuation carried out on an open market value basis by reference to market evidence of transaction prices for similar properties by the director as at 31 December 2021.

HILLSIDE HOUSE VENTNOR LIMITED (REGISTERED NUMBER: 06746825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


6. INVESTMENT PROPERTY - continued

Fair value at 31 December 2022 is represented by:
£
Valuation in 2021 789,310
Cost 1,197,354
1,986,664

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Amounts owed by group undertakings 50,990 65,584
Other debtors 2,475 2,083
53,465 67,667

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Amounts owed to group undertakings 1,116,301 1,155,785
Taxation and social security 1,685 1,600
Other creditors 8,000 -
1,125,986 1,157,385

9. ULTIMATE CONTROLLING PARENT

The ultimate parent undertaking is Neilor Limited, which prepares group financial statements. The registered office of Neilor Limited is Appledram Barns, Birdham Road, Chichester, PO20 7EQ.