1 false false false false false false false false false true false false false false false false No description of principal activity 2023-03-02 Sage Accounts Production Advanced 2021 - FRS102_2021 697,094 2,906 700,000 700,000 xbrli:pure xbrli:shares iso4217:GBP 14700032 2023-03-02 2023-12-31 14700032 2023-12-31 14700032 bus:Director1 2023-03-02 2023-12-31 14700032 core:PlantMachinery 2023-03-02 2023-12-31 14700032 core:WithinOneYear 2023-12-31 14700032 core:ShareCapital 2023-12-31 14700032 core:RetainedEarningsAccumulatedLosses 2023-12-31 14700032 core:PlantMachinery 2023-12-31 14700032 bus:SmallEntities 2023-03-02 2023-12-31 14700032 bus:AuditExemptWithAccountantsReport 2023-03-02 2023-12-31 14700032 bus:FullAccounts 2023-03-02 2023-12-31 14700032 bus:SmallCompaniesRegimeForAccounts 2023-03-02 2023-12-31 14700032 bus:PrivateLimitedCompanyLtd 2023-03-02 2023-12-31
COMPANY REGISTRATION NUMBER: 14700032
Hillcress Holdings Limited
Filleted Unaudited Financial Statements
31 December 2023
Hillcress Holdings Limited
Statement of Financial Position
31 December 2023
31 Dec 23
Note
£
£
Fixed assets
Tangible assets
5
700,000
Current assets
Debtors
6
407
Cash at bank and in hand
1,799
------
2,206
Creditors: amounts falling due within one year
7
611,703
--------
Net current liabilities
609,497
--------
Total assets less current liabilities
90,503
Provisions
Taxation including deferred tax
726
-------
Net assets
89,777
-------
Capital and reserves
Called up share capital
100
Profit and loss account
89,677
-------
Shareholders funds
89,777
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 May 2024 , and are signed on behalf of the board by:
Mr C P McShane
Director
Company registration number: 14700032
Hillcress Holdings Limited
Notes to the Financial Statements
Period from 2 March 2023 to 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5-11 Mortimer Street, London, W1T 3HS, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Investment property
The investment property is shown at fair value as estimated by the directors. Any movements in fair value are recognised in arriving at the profit before tax. Deferred tax is provided against these movements.
(c) Revenue recognition
Turnover represents management fees to the Company's subsidiary during the period.
(d) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
(e) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Tangible assets
Investment Property
Total
£
£
Cost or valuation
At 2 March 2023
Additions
697,094
697,094
Revaluations
2,906
2,906
--------
--------
At 31 December 2023
700,000
700,000
--------
--------
Depreciation
At 2 March 2023 and 31 December 2023
--------
--------
Carrying amount
At 31 December 2023
700,000
700,000
--------
--------
6. Debtors
31 Dec 23
£
Other debtors
407
---
7. Creditors: amounts falling due within one year
31 Dec 23
£
Amounts owed to group undertakings
475,667
Corporation tax
26,568
Other creditors
109,468
--------
611,703
--------