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Company No: 02674369 (England and Wales)

HILL OLDRIDGE LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

HILL OLDRIDGE LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

HILL OLDRIDGE LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
HILL OLDRIDGE LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
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
HILL OLDRIDGE LIMITED

BALANCE SHEET

As at 30 April 2024
HILL OLDRIDGE LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 0 2,127
Investment property 4 0 800,000
0 802,127
Current assets
Debtors
- due within one year 5 164,370 141,233
- due after more than one year 5 121,601 243,202
Cash at bank and in hand 2,824,641 2,080,875
3,110,612 2,465,310
Creditors: amounts falling due within one year 6 ( 512,381) ( 444,607)
Net current assets 2,598,231 2,020,703
Total assets less current liabilities 2,598,231 2,822,830
Provision for liabilities 0 ( 798)
Net assets 2,598,231 2,822,032
Capital and reserves
Called-up share capital 60,000 60,000
Profit and loss account 2,538,231 2,762,032
Total shareholders' funds 2,598,231 2,822,032

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Hill Oldridge Limited (registered number: 02674369) were approved and authorised for issue by the Board of Directors on 09 July 2024. They were signed on its behalf by:

D T C Pollock
Director
HILL OLDRIDGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
HILL OLDRIDGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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.

Turnover

Commission receivable on an indemnity basis is recognised at the inception of the related policy subject to adjustments for amounts expected to be clawed back. Non-indemnity commission is recognised at the inception of the related policy, as the right to consideration arises.

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 cost of sales on the Profit and Loss Account.

Turnover includes rental income. This is recognised in the period to which the income relates.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 - 33.33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

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.

Investment property

Investment properties are included at fair value at each reporting date. The value is based on observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Gains and losses are recognised in the profit and loss account.

Financial instruments

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 12,454 12,454
At 30 April 2024 12,454 12,454
Accumulated depreciation
At 01 May 2023 10,327 10,327
Charge for the financial year 2,127 2,127
At 30 April 2024 12,454 12,454
Net book value
At 30 April 2024 0 0
At 30 April 2023 2,127 2,127

4. Investment property

Investment property
£
Valuation
As at 01 May 2023 800,000
Disposals (800,000)
As at 30 April 2024 0

5. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 25,742 50,027
Corporation tax 49,948 0
Other debtors 88,680 91,206
164,370 141,233
Debtors: amounts falling due after more than one year
Other debtors 121,601 243,202

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 36,357 31,630
Corporation tax 0 65,727
Other taxation and social security 88,691 ( 4,903)
Other creditors 387,333 352,153
512,381 444,607

7. Financial commitments

Other financial commitments

2024 2023
£ £
Total minimum operating lease payments 33,744 101,232

As at 30 April 2024 the company had total minimum commitments over the terms of non-cancellable operating leases as above.