Company Registration No. SC161081 (Scotland)
Hillview Developments Limited
Unaudited accounts
for the year ended 31 May 2023
Hillview Developments Limited
Unaudited accounts
Contents
Hillview Developments Limited
Company Information
for the year ended 31 May 2023
Directors
Alessandro Saccomando
Nadia Millar
Guilia Saccomando
Company Number
SC161081 (Scotland)
Registered Office
Auchengree Farm
Lenzie Road Stepps
GLASGOW
Lanarkshire
G33 6BZ
Scotland
Accountants
AGL Tax Solutions LLP
2A Station Yard
Haddington
East Lothian
EH41 3PP
Hillview Developments Limited
Statement of financial position
as at 31 May 2023
Investment property
3,100,000
3,100,000
Investments
693,450
693,450
Cash at bank and in hand
871,927
638,976
Creditors: amounts falling due within one year
(226,369)
(170,913)
Net current assets
785,477
582,298
Total assets less current liabilities
4,579,232
4,376,420
Provisions for liabilities
Deferred tax
(217,953)
(217,953)
Net assets
4,361,279
4,158,467
Called up share capital
100,000
100,000
Fair value reserve
1,589,966
1,589,966
Profit and loss account
2,671,313
2,468,501
Shareholders' funds
4,361,279
4,158,467
For the year ending 31 May 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 28 November 2023 and were signed on its behalf by
Nadia Millar
Director
Company Registration No. SC161081
Hillview Developments Limited
Notes to the Accounts
for the year ended 31 May 2023
Hillview Developments Limited is a private company, limited by shares, registered in Scotland, registration number SC161081. The registered office is Auchengree Farm, Lenzie Road Stepps, GLASGOW, Lanarkshire, G33 6BZ, Scotland.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Investment properties are valued at their open market value at the balance sheet date. Any surplus on revaluation is transferred to the investment property revaluation reserve. Any deficit is deducted from the investment property revaluation reserve, except for permanent diminutions in value, which are charged to the profit and loss account.
Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
Hillview Developments Limited
Notes to the Accounts
for the year ended 31 May 2023
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 June 2022
3,100,000
6
Investments
Other investments
Valuation at 1 June 2022
693,450
Valuation at 31 May 2023
693,450
Amounts falling due within one year
Trade debtors
16,134
15,817
Accrued income and prepayments
3,280
2,913
Other debtors
120,505
95,505
8
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
51,050
48,814
Other creditors
126,107
75,290
Deferred income
32,926
32,750
Hillview Developments Limited
Notes to the Accounts
for the year ended 31 May 2023
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).