Hillswood Developments Ltd 15042512 false 2023-08-01 2024-03-31 2024-03-31 The principal activity of the company is that of property development. Digita Accounts Production Advanced 6.30.9574.0 true true 15042512 2023-08-01 2024-03-31 15042512 2024-03-31 15042512 core:CurrentFinancialInstruments 2024-03-31 15042512 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 15042512 bus:SmallEntities 2023-08-01 2024-03-31 15042512 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-03-31 15042512 bus:FilletedAccounts 2023-08-01 2024-03-31 15042512 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-03-31 15042512 bus:RegisteredOffice 2023-08-01 2024-03-31 15042512 bus:Director1 2023-08-01 2024-03-31 15042512 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-03-31 15042512 1 2023-08-01 2024-03-31 15042512 countries:EnglandWales 2023-08-01 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 15042512

Hillswood Developments Ltd

Unaudited Financial Statements

for the Period from 1 August 2023 to 31 March 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Hillswood Developments Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 4

 

Hillswood Developments Ltd

Company Information

Director

J H Crehan

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Hillswood Developments Ltd

Statement of Financial Position as at 31 March 2024

Note

2024
£

Current assets

 

Stocks

4

486,063

Debtors

5

478

 

486,541

Creditors: Amounts falling due within one year

6

(493,120)

Net liabilities

 

(6,579)

Capital and reserves

 

Called up share capital

100

Retained earnings

(6,679)

Shareholders' deficit

 

(6,579)

For the financial period ending 31 March 2024 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 28 August 2024
 

.........................................

J H Crehan

Director

Company registration number: 15042512

 

Hillswood Developments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of property development.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Short period of account

These financial statements relate to the 8 months from 1 August 2023 to 31 March 2024.

Going concern

The company made a loss for the period ended 31 March 2024 and had net liabilities at that date amounting to £6,579.

The company is reliant on the financial support of a fellow group undertaking, to whom an amount of £487,957 was due at 31 March 2024, until the sale of the property held in stock. This undertaking has confirmed that it will not call for repayment and will continue to support the company until such time as it has sufficient working capital. The company has minimal fixed overheads.

After making enquiries, the director has a reasonable expectation that the company had adequate resources to continue in existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 

Hillswood Developments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the period, was 0.

4

Stocks

2024
£

Stock

486,063

5

Debtors

2024
£

Amounts owed by group undertakings

100

Other debtors

378

478

6

Creditors

Creditors: amounts falling due within one year

2024
£

Amounts owed to group undertakings

487,957

Accruals and deferred income

5,163

493,120

7

Related party transactions

Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions or amounts falling due with companies wholly owned within the group.