Caseware UK (AP4) 2022.0.179 2022.0.179 2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity22022-04-01truefalsetrue 03267453 2022-04-01 2023-03-31 03267453 2021-04-01 2022-03-31 03267453 2023-03-31 03267453 2022-03-31 03267453 c:Director1 2022-04-01 2023-03-31 03267453 d:FreeholdInvestmentProperty 2023-03-31 03267453 d:FreeholdInvestmentProperty 2022-03-31 03267453 d:CurrentFinancialInstruments 2023-03-31 03267453 d:CurrentFinancialInstruments 2022-03-31 03267453 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03267453 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03267453 d:ShareCapital 2023-03-31 03267453 d:ShareCapital 2022-03-31 03267453 d:OtherMiscellaneousReserve 2023-03-31 03267453 d:OtherMiscellaneousReserve 2022-03-31 03267453 d:RetainedEarningsAccumulatedLosses 2023-03-31 03267453 d:RetainedEarningsAccumulatedLosses 2022-03-31 03267453 c:FRS102 2022-04-01 2023-03-31 03267453 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03267453 c:FullAccounts 2022-04-01 2023-03-31 03267453 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03267453 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 03267453










Hildon Property Investments Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2023


 


 
Hildon Property Investments Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Hildon Property Investments Limited for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hildon Property Investments Limited for the year ended 31 March 2023 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Hildon Property Investments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Hildon Property Investments Limited  and state those matters that we have agreed to state to the Board of Directors of Hildon Property Investments Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hildon Property Investments Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Hildon Property Investments 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 loss of Hildon Property Investments Limited. You consider that Hildon Property Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Hildon Property Investments 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.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
27 November 2023
Page 1

 
Hildon Property Investments Limited
Registered number: 03267453

Balance Sheet
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
800,000
800,000

  
800,000
800,000

Current assets
  

Cash at bank and in hand
  
8,321
8,482

  
8,321
8,482

Creditors: amounts falling due within one year
 5 
(7,181)
(6,216)

Net current assets
  
 
 
1,140
 
 
2,266

Total assets less current liabilities
  
801,140
802,266

Provisions for liabilities
  

Deferred tax
  
(18,105)
(13,974)

  
 
 
(18,105)
 
 
(13,974)

Net assets
  
783,035
788,292


Capital and reserves
  

Called up share capital 
  
3,000
3,000

Fair value reserve
  
326,320
331,570

Profit and loss account
  
453,715
453,722

  
783,035
788,292


Page 2

 
Hildon Property Investments Limited
Registered number: 03267453

Balance Sheet (continued)
As at 31 March 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C M Tod
Director

Date: 21 November 2023

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
Hildon Property Investments Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales.
The registered office address is: 
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents the value of rental income and all other associated income receivable by the Company.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Investment property

Investment property is carried at fair value determined annually by internal valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
Hildon Property Investments Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.5

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
Hildon Property Investments Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
Hildon Property Investments Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
800,000



At 31 March 2023
800,000

The 2023 valuations were made by the director C M Tod, on an open market value for existing use basis.





5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
2,655
3,072

Other creditors
1,144
1,144

Accruals and deferred income
3,382
2,000

7,181
6,216



Page 7