Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04309091 2023-01-01 2023-12-31 04309091 2023-12-31 04309091 2022-01-01 2022-12-31 04309091 2022-12-31 04309091 2022-01-01 04309091 5 2023-01-01 2023-12-31 04309091 6 2022-01-01 2022-12-31 04309091 d:CompanySecretary1 2023-01-01 2023-12-31 04309091 d:Director1 2023-01-01 2023-12-31 04309091 d:Director2 2023-01-01 2023-12-31 04309091 d:Director3 2023-01-01 2023-12-31 04309091 d:Director4 2023-01-01 2023-12-31 04309091 d:RegisteredOffice 2023-01-01 2023-12-31 04309091 d:Agent1 2023-01-01 2023-12-31 04309091 e:Buildings 2023-01-01 2023-12-31 04309091 e:Buildings 2023-12-31 04309091 e:Buildings 2022-12-31 04309091 e:Buildings e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04309091 e:FurnitureFittings 2023-01-01 2023-12-31 04309091 e:FurnitureFittings 2023-12-31 04309091 e:FurnitureFittings 2022-12-31 04309091 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04309091 e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04309091 e:FreeholdInvestmentProperty 2023-12-31 04309091 e:FreeholdInvestmentProperty 2022-12-31 04309091 e:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 04309091 e:CurrentFinancialInstruments 2023-12-31 04309091 e:CurrentFinancialInstruments 2022-12-31 04309091 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 04309091 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 04309091 e:ShareCapital 2023-01-01 2023-12-31 04309091 e:ShareCapital 2023-12-31 04309091 e:ShareCapital 2022-01-01 2022-12-31 04309091 e:ShareCapital 2022-12-31 04309091 e:ShareCapital 2022-01-01 04309091 e:RevaluationReserve 2023-01-01 2023-12-31 04309091 e:RevaluationReserve 2023-12-31 04309091 e:RevaluationReserve 5 2023-01-01 2023-12-31 04309091 e:RevaluationReserve 2022-01-01 2022-12-31 04309091 e:RevaluationReserve 2022-12-31 04309091 e:RevaluationReserve 2022-01-01 04309091 e:RevaluationReserve 6 2022-01-01 2022-12-31 04309091 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 04309091 e:RetainedEarningsAccumulatedLosses 2023-12-31 04309091 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 04309091 e:RetainedEarningsAccumulatedLosses 2022-12-31 04309091 e:RetainedEarningsAccumulatedLosses 2022-01-01 04309091 d:FRS102 2023-01-01 2023-12-31 04309091 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04309091 d:FullAccounts 2023-01-01 2023-12-31 04309091 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04309091 1 2023-01-01 2023-12-31 04309091 5 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 04309091







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


HILTON BANKS HOLDINGS LIMITED






































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HILTON BANKS HOLDINGS LIMITED
 


 
COMPANY INFORMATION


Directors
R C Banks 
J P Davis 
L A Field 
S M McAleese-Banks 




Company secretary
R C Banks



Registered number
04309091



Registered office
HB42 House
HB42 House
Unit 9, Maple Grove Business Centre

Lawrence Road

Hounslow

Middlesex

TW4 6DR




Accountants
Menzies LLP
Chartered Accountants

1st Floor

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ




Bankers
Barclays Bank plc
Ranger House

Walnut Tree Close

Guildford

Surrey

GU1 4UL





 


HILTON BANKS HOLDINGS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Statement of Changes in Equity
3 - 4
Notes to the Financial Statements
5 - 9


 


HILTON BANKS HOLDINGS LIMITED
REGISTERED NUMBER:04309091



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,394,006
5,167,808

Investment property
 5 
806,000
780,000

  
6,200,006
5,947,808

Current assets
  

Debtors: amounts falling due within one year
 6 
3
3

Cash at bank and in hand
  
4,410
14,355

  
4,413
14,358

Creditors: amounts falling due within one year
 7 
(586,173)
(658,196)

Net current liabilities
  
 
 
(581,760)
 
 
(643,838)

Total assets less current liabilities
  
5,618,246
5,303,970

Provisions for liabilities
  

Deferred tax
  
(390,395)
(258,700)

  
 
 
(390,395)
 
 
(258,700)

Net assets
  
5,227,851
5,045,270


Capital and reserves
  

Called up share capital 
  
3
3

Revaluation reserve
 9 
4,292,775
4,066,575

Profit and loss account
 9 
935,073
978,692

  
5,227,851
5,045,270


Page 1

 


HILTON BANKS HOLDINGS LIMITED
REGISTERED NUMBER:04309091


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
R C Banks
Director
Date: 25 September 2024

The notes on pages 5 to 9 form part of these financial statements.

Page 2

 


HILTON BANKS HOLDINGS LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
3
4,066,575
978,692
5,045,270


Comprehensive income for the year

Loss for the year

-
-
(43,619)
(43,619)

Surplus on revaluation of freehold property
-
226,200
-
226,200


Other comprehensive income for the year
-
226,200
-
226,200


Total comprehensive income for the year
-
226,200
(43,619)
182,581


Total transactions with owners
-
-
-
-


At 31 December 2023
3
4,292,775
935,073
5,227,851


The notes on pages 5 to 9 form part of these financial statements.

Page 3

 


HILTON BANKS HOLDINGS LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2022
3
4,107,651
920,658
5,028,312


Comprehensive income for the year

Profit for the year

-
-
16,958
16,958

Surplus on revaluation of leasehold property
-
-
41,076
41,076


Other comprehensive income for the year
-
-
41,076
41,076


Total comprehensive income for the year
-
-
58,034
58,034


Contributions by and distributions to owners

Transfer to/from profit and loss account
-
(41,076)
-
(41,076)


Total transactions with owners
-
(41,076)
-
(41,076)


At 31 December 2022
3
4,066,575
978,692
5,045,270


The notes on pages 5 to 9 form part of these financial statements.

Page 4

 


HILTON BANKS HOLDINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Hilton Banks Holdings Limited is a private company, limited by shares,  incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of its registered office and principal place of business is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 

The Company has applied all amendments to FRS 102, as set out in the triennial review published in December 2017, mandatory for accounting periods beginning on or after 1 January 2019. Accordingly freehold property with a value of £3,045,000 was re-classified from investment properties to tangible fixed assets in a previous  year.

The following principal accounting policies have been applied:

 
2.2

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
50 years straight line (building element)
Fixtures and fittings
-
25 % reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.3

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Page 5

 


HILTON BANKS HOLDINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at the directors' best estimate of fair value determined annually by external indicators of market value and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

  
2.6

Change in accounting policy

The freehold property was revalued during the prior year as the directors felt that adopting a revaluation policy better reflects the true value of the property in the Company therefore providing a more reliable and true and fair view. 

 
2.7

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 6

 


HILTON BANKS HOLDINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
5,220,000
865
5,220,865


Revaluations
174,000
-
174,000



At 31 December 2023

5,394,000
865
5,394,865



Depreciation


At 1 January 2023
52,200
857
53,057


Charge for the year on owned assets
-
2
2


On revalued assets
(52,200)
-
(52,200)



At 31 December 2023

-
859
859



Net book value



At 31 December 2023
5,394,000
6
5,394,006



At 31 December 2022
5,167,800
8
5,167,808

During a previous year the Company has applied the amendments to FRS 102, as set out in the triennial review
published in December 2017. The freehold property rented to a group company was transfered from investment
property to tangible fixed assets with the fair value at the date of transition as deemed cost.

The 2023 valuation is based on the agreed contractual sale value.

If the freehold property had not been included at valuation they would have been included under the historical cost convention as follows:

2023
2022
£
£



Historic cost
3,045,000
3,045,000

Net book value
3,045,000
3,045,000

Page 7

 


HILTON BANKS HOLDINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
780,000


Surplus on revaluation
26,000



At 31 December 2023
806,000

The property has a charge registered against it relating to the debts of Hilton Banks Limited, a related company.

The 2023 valuation is based on the agreed contractual sale value.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
455,000
455,000

455,000
455,000


6.


Debtors

2023
2022
£
£


Other debtors
3
3

3
3



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
1,033
-

Other creditors
584,368
654,368

Accruals and deferred income
772
3,828

586,173
658,196


Page 8

 


HILTON BANKS HOLDINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Related party transactions

At 31 December 2023 the Company owed directors R C Banks, J P Davis and L A Field a total of £580,869 (2022: £649,869). This was split as demonstrated below:


2023
2022
£
£

R C Banks
181,623
214,623
J P Davis
199,623
217,623
L A Field
199,623
217,623
580,869
649,869

No interest is paid on the loan detailed above.


9.


Reserves

Revaluation reserve

This reserve records the surplus or deficit arising on the valuation of an asset. 

Profit and loss account

This reserve includes all current and prior period retained profits and losses. 


10.


Post balance sheet events

Post year-end the Company has sold the freehold property, held within tangible fixed assets and investment property, for the sum of £6,200,000. In addition post year end the Company has purchased a freehold property for the sum of £2,250,000.    

 
Page 9