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Registration number: 04474497

Hilton Property Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Hilton Property Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Hilton Property Investments Limited

Company Information

Directors

Mr T A Squires

Mrs Kerry Anne Squires

Mr James Anthony Squires

Mr Alexander Terence Squires

Company secretary

Mr T A Squires

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail and Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

Hilton Property Investments Limited

(Registration number: 04474497)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,475,608

1,477,213

Current assets

 

Debtors

5

5,095

3,684

Cash at bank and in hand

 

16,344

38,726

 

21,439

42,410

Creditors: Amounts falling due within one year

6

(344,126)

(353,567)

Net current liabilities

 

(322,687)

(311,157)

Total assets less current liabilities

 

1,152,921

1,166,056

Creditors: Amounts falling due after more than one year

6

(16,017)

(22,049)

Provisions for liabilities

(120,964)

(92,826)

Net assets

 

1,015,940

1,051,181

Capital and reserves

 

Called up share capital

9

100

100

Other reserves

597,032

625,170

Retained earnings

418,808

425,911

Shareholders' funds

 

1,015,940

1,051,181

For the financial year ending 30 June 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Hilton Property Investments Limited

(Registration number: 04474497)
Balance Sheet as at 30 June 2023

Approved and authorised by the Board on 18 April 2024 and signed on its behalf by:



 

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

Mr T A Squires

Company secretary and director

 

Hilton Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
Maria House
35 Millers Road
Brighton
BN1 5NP

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Hilton Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

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 0 (2022 - 3).

 

Hilton Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

1,470,000

3,835

9,300

1,483,135

Additions

-

299

-

299

At 30 June 2023

1,470,000

4,134

9,300

1,483,434

Depreciation

At 1 July 2022

-

3,597

2,325

5,922

Charge for the year

-

160

1,744

1,904

At 30 June 2023

-

3,757

4,069

7,826

Carrying amount

At 30 June 2023

1,470,000

377

5,231

1,475,608

At 30 June 2022

1,470,000

238

6,975

1,477,213

Included within the net book value of land and buildings above is £1,470,000 (2022 - £1,470,000) in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Prepayments

1,586

1,752

Other debtors

3,509

1,932

 

5,095

3,684

 

Hilton Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

6,200

6,200

Trade creditors

 

20,852

18,699

Taxation and social security

 

236

169

Accruals and deferred income

 

1,056

1,008

Other creditors

 

315,782

327,491

 

344,126

353,567

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

16,017

22,049

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

16,017

22,049

2023
£

2022
£

Current loans and borrowings

Bank borrowings

6,200

6,200

8

Related party transactions

 

Hilton Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

37,728

27,297

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100