Company No:
Contents
DIRECTORS | D D Garcia |
A L Hill | |
D T C Pollock | |
A P M Steele |
SECRETARY | D T C Pollock |
REGISTERED OFFICE | Ormond House |
26/27 Boswell Street | |
London | |
WC1N 3JZ | |
United Kingdom |
COMPANY NUMBER | 02674369 (England and Wales) |
CHARTERED ACCOUNTANTS | Dixon Wilson |
22 Chancery Lane | |
London | |
WC2A 1LS |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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802,127 | 828,190 | |||
Current assets | ||||
Debtors | ||||
- due within one year | 5 |
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- due after more than one year | 5 |
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Cash at bank and in hand |
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2,465,310 | 2,281,401 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 2,020,703 | 1,750,308 | ||
Total assets less current liabilities | 2,822,830 | 2,578,498 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Hill Oldridge Limited (registered number:
D T C Pollock
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Hill Oldridge Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ormond House, 26/27 Boswell Street, London, WC1N 3JZ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Renewal and trail commission are recognised evenly over the life of the individual policy, as the right to consideration arises.
Income from advisory work is recognised in the period in which services are provided.
Income earned by an appointed representative is included within revenue. The corresponding commission is included within shared commision on the Profit and Loss Account.
Turnover includes rental income. This is recognised in the period to which the income relates.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Plant and machinery etc. | 15 -
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 May 2022 |
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At 30 April 2023 |
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Accumulated depreciation | |||
At 01 May 2022 |
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Charge for the financial year |
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At 30 April 2023 |
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Net book value | |||
At 30 April 2023 |
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At 30 April 2022 |
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Investment property | |
£ | |
Valuation | |
As at 01 May 2022 |
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Fair value movement | (25,000) |
As at 30 April 2023 |
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Valuation
In the opinion of the directors, the fair value of the investment property was £800,000 at the balance sheet date. The directors have taken account of the views of the current letting agent and the observable market prices of comparable properties, but no formal valuation has been carried out.
Historic cost
If the investment properties had been accounted for at cost, the properties would have been measured as follows:
2023 | 2022 | ||
£ | £ | ||
Historical cost | 1,270,700 | 1,270,700 |
2023 | 2022 | ||
£ | £ | ||
Debtors: amounts falling due within one year | |||
Trade debtors |
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Other debtors |
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Debtors: amounts falling due after more than one year | |||
Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Corporation tax |
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Other taxation and social security | (
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Other creditors |
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Other financial commitments
2023 | 2022 | ||
£ | £ | ||
Total minimum operating lease payments |
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As at 30 April 2023 the company had total minimum commitments over the terms of non-cancellable operating leases as above.