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Registration number: 13427620

Hillswood Holdings Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Hillswood Holdings Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Hillswood Holdings 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 Holdings Ltd

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

763,390

763,290

Current assets

 

Debtors

5

378

379

Cash at bank and in hand

 

52,041

10,281

 

52,419

10,660

Creditors: Amounts falling due within one year

6

(494,338)

(576,799)

Net current liabilities

 

(441,919)

(566,139)

Net assets

 

321,471

197,151

Capital and reserves

 

Called up share capital

1

1

Retained earnings

321,470

197,150

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:

The members have not required the company to obtain an audit of its accounts for the year 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: 13427620

 

Hillswood Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 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 an investment holding company.

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.

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

4

Investments

2024
£

2023
£

Investment in subsidiary undertakings

763,390

763,290

Subsidiaries

£

Cost or valuation

At 1 April 2023

763,290

Additions

100

At 31 March 2024

763,390

Carrying amount

At 31 March 2024

763,390

At 31 March 2023

763,290

 

Hillswood Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

2024
£

2023
£

Other debtors

378

379

378

379

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Loans and borrowings

472,581

574,219

Amounts owed to group undertakings

9,028

-

Other creditors

12,729

2,580

494,338

576,799

7

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.