IRIS Accounts Production v23.3.1.45 01041647 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 true false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh010416472022-03-31010416472023-03-31010416472022-04-012023-03-31010416472021-03-31010416472021-04-012022-03-31010416472022-03-3101041647ns10:Originalns15:EnglandWales2022-04-012023-03-3101041647ns14:PoundSterlingns10:Original2022-04-012023-03-3101041647ns10:Originalns10:Director12022-04-012023-03-3101041647ns10:Original2022-04-012023-03-3101041647ns10:Originalns10:Director22022-04-012023-03-3101041647ns10:Original2023-03-3101041647ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3101041647ns10:Originalns10:SmallEntities2022-04-012023-03-3101041647ns10:Originalns10:AuditExemptWithAccountantsReport2022-04-012023-03-3101041647ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3101041647ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3101041647ns10:Originalns10:FullAccounts2022-04-012023-03-3101041647ns10:Originalns10:Director32022-04-012023-03-3101041647ns10:Originalns10:RegisteredOffice2022-04-012023-03-3101041647ns10:Original2022-03-3101041647ns10:Originalns5:CurrentFinancialInstruments2023-03-3101041647ns10:Originalns5:CurrentFinancialInstruments2022-03-3101041647ns5:ShareCapitalns10:Original2023-03-3101041647ns5:ShareCapitalns10:Original2022-03-3101041647ns10:Originalns5:SharePremium2023-03-3101041647ns10:Originalns5:SharePremium2022-03-3101041647ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3101041647ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-03-3101041647ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3101041647ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3101041647ns10:Original2021-04-012022-03-3101041647ns10:Originalns5:FurnitureFittings2022-03-3101041647ns10:Originalns5:ComputerEquipment2022-03-3101041647ns10:Original2022-03-3101041647ns10:Originalns5:FurnitureFittings2022-04-012023-03-3101041647ns10:Originalns5:ComputerEquipment2022-04-012023-03-3101041647ns10:Originalns5:FurnitureFittings2023-03-3101041647ns10:Originalns5:ComputerEquipment2023-03-3101041647ns10:Originalns5:FurnitureFittings2022-03-3101041647ns10:Originalns5:ComputerEquipment2022-03-3101041647ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101041647ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3101041647ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-03-31
REGISTERED NUMBER: 01041647 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

HILL STREET SECURITIES LIMITED

HILL STREET SECURITIES LIMITED (REGISTERED NUMBER: 01041647)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

HILL STREET SECURITIES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: Mr K S Kumar
Mrs P B Kumar
Mr Z Ata-Ullah





REGISTERED OFFICE: 88 Crawford Street
London
W1H 2EJ





REGISTERED NUMBER: 01041647 (England and Wales)





ACCOUNTANTS: Cameron Baum Hollander Limited
88 Crawford Street
London
W1H 2EJ

HILL STREET SECURITIES LIMITED (REGISTERED NUMBER: 01041647)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,539 1,448
Investment property 5 8,545,570 7,210,570
8,547,109 7,212,018

CURRENT ASSETS
Debtors 6 101,933 125,412
Investments 7 1,082,979 1,128,910
Cash at bank 2,257,698 2,280,065
3,442,610 3,534,387
CREDITORS
Amounts falling due within one year 8 434,190 495,287
NET CURRENT ASSETS 3,008,420 3,039,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,555,529

10,251,118

PROVISIONS FOR LIABILITIES 341,963 56,590
NET ASSETS 11,213,566 10,194,528

CAPITAL AND RESERVES
Called up share capital 76,209 76,209
Share premium 776,583 776,583
Fair value reserve 9 2,862,481 1,812,854
Retained earnings 7,498,293 7,528,882
SHAREHOLDERS' FUNDS 11,213,566 10,194,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

HILL STREET SECURITIES LIMITED (REGISTERED NUMBER: 01041647)

BALANCE SHEET - continued
31 March 2023


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 Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:




Mr K S Kumar - Director



Mrs P B Kumar - Director


HILL STREET SECURITIES LIMITED (REGISTERED NUMBER: 01041647)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Hill Street Securities 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.

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.

The financial statements are prepared in UK Pound Sterling, which is the functional currency of the company.

Turnover
Turnover consists of the fair value from investment transactions, profit/(loss) on the sale of shares and rent receivable in the UK. In relation to the share transactions, the directors consider that disclosing the profit/(loss) on the sale of shares within turnover is the fairest representation of the company's activities.

Tangible fixed assets
Fixtures, fittings and computer equipment are stated at historical cost less accumulated depreciation and accumulated impairment losses.

Depreciation is recognised to write off the cost of assets less their residual values over their useful lives, using the reducing balance method.

Fixtures and fittings- 15%
Computer equipment- 33%

The company’s policy is to review the remaining useful economic lives and residual values of tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining estimated useful economic life and residual value.

Fully depreciated tangible fixed assets are retained in cost and related accumulated depreciation until they are removed from service. In the case of disposals, assets and related depreciation are removed from the financial statements and the net amount, less proceeds from disposal, is charged or credited to the profit and loss account.

Assets not carried at fair value are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount.

The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. Value in use is defined as the present value of the future pre-tax and interest cash flows obtainable as a result of the asset’s continued use. The pre-tax and interest cash flows are discounted using a pre-tax discount rate that represents the current market risk free rate and the risks inherent in the asset. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units).

If the recoverable amount of the asset (or asset’s cash generating unit) is estimated to be lower than the carrying amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognised in the profit and loss account, unless the asset has been revalued when the amount is recognised in other comprehensive income to the extent of any previously recognised revaluation. Thereafter any excess is recognised in profit or loss.

If an impairment loss is subsequently reverses, the carrying amount of the asset (or asset’s cash generating unit) is increased to the revised estimate of its recoverable amount, but only to the extent that the revised carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised in prior periods. A reversal of an impairment loss is recognised in the profit and loss account.

Investment property
Investment properties are initially measured at cost on acquisition and subsequently at fair value as at each
accounts date. Changes in fair value are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold and charged to the profit and loss account.


HILL STREET SECURITIES LIMITED (REGISTERED NUMBER: 01041647)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Foreign currencies
Items included in the financial statements of the company are measured using the currency of the primary economic environment in which the company operates ("the functional currency"). The financial statements are presented in Sterling, which is the company's functional and presentation currency and is denoted by the symbol "£".

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents and all other
foreign exchange gains and losses are presented in the profit and loss account within ‘Foreign exchange losses or gains’.result.

Current asset investments
Current asset investments held for resale are stated at the lower of cost and net realisable value. Cost is calculated on a first in, first out basis.

At the end of each reporting period, current asset investments are assessed for impairment. If an investment is impaired, the identified investment is reduced to its selling price and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

HILL STREET SECURITIES LIMITED (REGISTERED NUMBER: 01041647)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 13,517 7,970 21,487
Additions - 519 519
At 31 March 2023 13,517 8,489 22,006
DEPRECIATION
At 1 April 2022 12,290 7,749 20,039
Charge for year 184 244 428
At 31 March 2023 12,474 7,993 20,467
NET BOOK VALUE
At 31 March 2023 1,043 496 1,539
At 31 March 2022 1,227 221 1,448

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 7,210,570
Revaluations 1,335,000
At 31 March 2023 8,545,570
NET BOOK VALUE
At 31 March 2023 8,545,570
At 31 March 2022 7,210,570

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 8,545,570

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 5,354,708 5,354,708

Investment properties were valued on an open market basis on 31 March 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Rent Debtor 83,869 88,493
Other debtors 3,000 3,000
Tax - 17,988
Prepayments and accrued income 15,064 15,931
101,933 125,412

HILL STREET SECURITIES LIMITED (REGISTERED NUMBER: 01041647)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 1,082,979 1,128,910

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 109,887 -
Corporation tax 31,346 24,728
Social security and other taxes 64,906 -
VAT 5,603 8,314
Other creditors 5,197 76,569
Deposits held 66,737 66,737
Directors' current accounts 55,861 98,536
Accruals and deferred income 66,653 95,403
Accrued expenses 28,000 125,000
434,190 495,287

9. RESERVES
Fair
value
reserve
£   
At 1 April 2022 1,812,854
Fair value transfers 1,049,627

At 31 March 2023 2,862,481

10. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr K.S.Kumar, the director.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HILL STREET SECURITIES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hill Street Securities Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Hill Street Securities Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hill Street Securities Limited. You consider that Hill Street Securities Limited 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 financial statements of Hill Street Securities Limited. 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 financial statements.






Cameron Baum Hollander Limited
88 Crawford Street
London
W1H 2EJ


21 November 2023