1 April 2023 false No description of principal activity Taxfiler 2024.5 11019259business:PrivateLimitedCompanyLtd2023-04-012024-03-31 110192592023-03-31 110192592023-04-012024-03-31 11019259business:AuditExemptWithAccountantsReport2023-04-012024-03-31 11019259business:FilletedAccounts2023-04-012024-03-31 110192592024-03-31 11019259business:Director12023-04-012024-03-31 11019259business:Director22023-04-012024-03-31 11019259business:RegisteredOffice2023-04-012024-03-31 110192592023-03-31 11019259core:WithinOneYear2024-03-31 11019259core:WithinOneYear2023-03-31 11019259core:AfterOneYear2024-03-31 11019259core:AfterOneYear2023-03-31 11019259core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 11019259core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 11019259core:SharePremiumcore:PreviouslyStatedAmount2024-03-31 11019259core:SharePremiumcore:PreviouslyStatedAmount2023-03-31 11019259core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 11019259core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 11019259core:PreviouslyStatedAmount2024-03-31 11019259core:PreviouslyStatedAmount2023-03-31 11019259business:SmallEntities2023-04-012024-03-31 11019259countries:EnglandWales2023-04-012024-03-31 11019259core:FurnitureFittings2023-04-012024-03-31 11019259core:FurnitureFittings2023-03-31 11019259core:FurnitureFittings2024-03-31 11019259core:AfterOneYear2023-04-012024-03-31 110192592022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 11019259 (England and Wales)
Hillcrest Nottingham Ltd Unaudited accounts for the year ended 31 March 2024
Hillcrest Nottingham Ltd Unaudited accounts Contents
Page
- 2 -
Hillcrest Nottingham Ltd Company Information for the year ended 31 March 2024
Directors
Gurmit Singh Landa Asha Kaur Landa
Company Number
11019259 (England and Wales)
Registered Office
326-330 Hucknall Road Sherwood Nottingham Nottinghamshire NG5 1FS ENGLAND
Accountants
Net Accountancy Solutions Limited 35 Gripps Common Cotgrave Nottingham Nottinghamshire NG12 3TF
- 3 -
Hillcrest Nottingham Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,235 
5,735 
Investment property
4,575,425 
4,177,998 
4,580,660 
4,183,733 
Current assets
Debtors
1,990 
403,188 
Cash at bank and in hand
49,315 
184,343 
51,305 
587,531 
Creditors: amounts falling due within one year
(796,198)
(635,554)
Net current liabilities
(744,893)
(48,023)
Total assets less current liabilities
3,835,767 
4,135,710 
Creditors: amounts falling due after more than one year
(1,322,282)
(1,672,913)
Net assets
2,513,485 
2,462,797 
Capital and reserves
Called up share capital
100 
100 
Share premium
2,220,031 
2,220,031 
Profit and loss account
293,354 
242,666 
Shareholders' funds
2,513,485 
2,462,797 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by
Gurmit Singh Landa Director Company Registration No. 11019259
- 4 -
Hillcrest Nottingham Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Hillcrest Nottingham Ltd is a private company, limited by shares, registered in England and Wales, registration number 11019259. The registered office is 326-330 Hucknall Road, Sherwood, Nottingham, Nottinghamshire, NG5 1FS, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is property held to earn rentals and/or for capital appreciation. Investment property is initially measured at cost, which includes the purchase cost and directly attributable expenditure. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value at the reporting date. The surplus or deficit on revaluation is recognised in profit or loss in the period in which they arise.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
- 5 -
Hillcrest Nottingham Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 April 2023
11,092 
Additions
1,246 
At 31 March 2024
12,338 
Depreciation
At 1 April 2023
5,357 
Charge for the year
1,746 
At 31 March 2024
7,103 
Net book value
At 31 March 2024
5,235 
At 31 March 2023
5,735 
5
Investment property
2024 
£ 
Fair value at 1 April 2023
4,177,998 
Additions
397,427 
At 31 March 2024
4,575,425 
The investment property has been measured at fair value, which is the open market value of the property. The fair value was arrived at by a fully qualified chartered surveyor. The fair value adjustment has been taken through the profit & loss account.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
(110)
6,082 
Accrued income and prepayments
- 
387,728 
Other debtors
2,100 
9,378 
1,990 
403,188 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
439,523 
187,164 
Trade creditors
47,873 
34,329 
Taxes and social security
2,128 
7,465 
Other creditors
234,025 
304,103 
Loans from directors
72,649 
102,493 
796,198 
635,554 
- 6 -
Hillcrest Nottingham Ltd Notes to the Accounts for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
1,322,282 
1,672,913 
The company has allowed a floating charge over the company's assets in favour of Handelsbanken, including the investment properties with a carrying amount of £4,219,042 (2022: £4,253,020), as security for the bank loan.
9
Transactions with related parties
9. Included in 'other creditors' is an amount of £53,467 (2023: £63,207) owed to A K Property Portfolio LLP, a partnership where director G S Landa is the managing partner. 'Other creditors' also includes an amount of £75,000 (2023: £115,628) owed to the family trust which has financed residential building work done by the company. Finally loans totalling £75,531 (2023: £74,075) are owed to various family members. These amounts are interest free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
- 7 -