Company registration number SC310068 (Scotland)
HILLEND INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
HILLEND INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HILLEND INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
1,045,513
1,045,513
Current assets
Debtors
4
18,416
11,881
Cash at bank and in hand
84,481
149,899
102,897
161,780
Creditors: amounts falling due within one year
5
(54,918)
(82,393)
Net current assets
47,979
79,387
Total assets less current liabilities
1,093,492
1,124,900
Creditors: amounts falling due after more than one year
6
(1,024,260)
(1,024,260)
Net assets
69,232
100,640
Capital and reserves
Called up share capital
740
740
Profit and loss reserves
68,492
99,900
Total equity
69,232
100,640

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 19 January 2024 and are signed on its behalf by:
Mr D Walker
Director
Company registration number SC310068 (Scotland)
HILLEND INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Hillend Investments Limited is a private company limited by shares incorporated in Scotland. The registered office is 3 Castle Court, Carnegie Campus, Dunfermline, Fife, KY11 8PB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover
Turnover represents amounts receivable for rents.
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

HILLEND INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

 

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
1,045,513
HILLEND INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
3
Investment property
(Continued)
- 4 -

The original investment property was acquired in 2007. In the opinion of the directors, the original acquisition cost of £320,747 approximates its current market value. An additional property was acquired in 2018 of £724,766 which is also considered to be approximate to its current market value.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
11,049
11,881
Corporation tax recoverable
7,367
-
0
18,416
11,881
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,853
1,853
Corporation tax
-
0
9,894
Other taxation and social security
12,021
11,413
Other creditors
41,044
59,233
54,918
82,393
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
1,024,260
1,024,260
2023-12-312023-01-01false19 January 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr B ForresterMr D WalkerMr D WalkerfalseSC3100682023-01-012023-12-31SC3100682023-12-31SC3100682022-12-31SC310068core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-31SC310068core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-31SC310068core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-31SC310068core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-31SC310068core:CurrentFinancialInstruments2023-12-31SC310068core:CurrentFinancialInstruments2022-12-31SC310068core:ShareCapital2023-12-31SC310068core:ShareCapital2022-12-31SC310068core:RetainedEarningsAccumulatedLosses2023-12-31SC310068core:RetainedEarningsAccumulatedLosses2022-12-31SC310068bus:CompanySecretaryDirector12023-01-012023-12-31SC3100682022-01-012022-12-31SC3100682022-12-31SC310068core:Non-currentFinancialInstruments2023-12-31SC310068core:Non-currentFinancialInstruments2022-12-31SC310068bus:PrivateLimitedCompanyLtd2023-01-012023-12-31SC310068bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC310068bus:FRS1022023-01-012023-12-31SC310068bus:AuditExemptWithAccountantsReport2023-01-012023-12-31SC310068bus:Director12023-01-012023-12-31SC310068bus:Director22023-01-012023-12-31SC310068bus:CompanySecretary12023-01-012023-12-31SC310068bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP