Registered number
SC427091
Hillfoot Properties Limited
159 - 161 Calder Street
Coatbridge
Filleted Accounts
for the year ended 30 June 2023
Prepared by :
Yousaf & Co Ltd
Chartered Certified Accountants
298-300 Maxwell Road
Glasgow
G41 1PJ
IA/H106 -23
Hillfoot Properties Limited
Registered number: SC427091
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 67,500 67,500
Current assets
Cash at bank and in hand 553 928
Creditors: amounts falling due within one year 4 (998) (993)
Net current (liabilities) (445) (65)
Total assets less current liabilities 67,055 67,435
Creditors: amounts falling due after more than one year 5 (53,012) (55,295)
Net assets 14,043 12,140
Capital and reserves
Called up share capital 100 100
Profit and loss account 13,943 12,040
Shareholders' funds 14,043 12,140
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Tariq Mahmood Ali
Director
Approved by the board on 22 January 2024
Hillfoot Properties Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings No depreciation
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2022 67,500
At 30 June 2023 67,500
Net book value
At 30 June 2023 67,500
At 30 June 2022 67,500
4 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 446 468
Other creditors 552 525
998 993
5 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 53,012 55,295
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