Registration number:
Hillswood Holdings Ltd
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Hillswood Holdings Ltd
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Hillswood Holdings Ltd
Company Information
Director |
J H Crehan |
Registered office |
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Accountants |
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Hillswood Holdings Ltd
Statement of Financial Position as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
321,470 |
197,150 |
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Shareholders' funds |
321,471 |
197,151 |
For the financial 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.
Director's responsibilities:
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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
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J H Crehan
Director
Company registration number: 13427620
Hillswood Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of an investment holding company.
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.
Going concern
The company had net assets at 31 March 2024 of £321,471, but with net current liabilities of £441,919.
The company has minimal overheads and at 31 March 2024, an amount of £472,581 was due to members of the director's family who have agreed not to call for repayment until such time as the company has sufficient working capital and to provide further funding if required.
Accordingly, on the basis of the above, the director has a reasonable expectation that the company has adequate resources to continue in operation existence for the foreseeable future and continues to adopt the going concern basis in preparing the financial statements.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Hillswood Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company during the year, was
Investments |
2024 |
2023 |
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Investment in subsidiary undertakings |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2023 |
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Additions |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Hillswood Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Debtors |
2024 |
2023 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Loans and borrowings |
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Amounts owed to group undertakings |
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Other creditors |
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Related party transactions |
Exemption is taken under FRS102 paragraph IAC.35 not to disclose transactions or amounts falling due with companies wholly owned within the group.