Company registration number 11676889 (England and Wales)
317 HILLS ROAD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
317 HILLS ROAD LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
317 HILLS ROAD LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
2,525,647
2,525,647
Current assets
Debtors
4
532,416
526,815
Cash at bank and in hand
8,086
12,407
540,502
539,222
Creditors: amounts falling due within one year
5
(1,573,653)
(1,566,116)
Net current liabilities
(1,033,151)
(1,026,894)
Total assets less current liabilities
1,492,496
1,498,753
Creditors: amounts falling due after more than one year
6
(1,486,874)
(1,496,685)
Net assets
5,622
2,068
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
5,522
1,968
Total equity
5,622
2,068

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 10 October 2024
C Crickmore
Director
Company registration number 11676889 (England and Wales)
317 HILLS ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

317 Hills Road Limited is a private company limited by shares incorporated in England and Wales. The registered office is 70 Fen Road, Chesterton, Cambridge, Cambridgeshire, CB4 1TU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for property rental services provided in the normal course of business.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

317 HILLS ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Investment property
2023
£
Fair value
At 1 December 2022 and 30 November 2023
2,525,647

In the opinion of the directors, the fair value of the investment properties are not materially different to the carrying value in the accounts as at the balance sheet date.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
532,416
526,815
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
9,792
9,792
Trade creditors
4,223
-
0
Other creditors
1,559,638
1,556,324
1,573,653
1,566,116
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
1,486,874
1,496,685

Included within creditors due after more than one year are secured debts amounting to £1,470,183 (2022: £1,470,183) which are secured on the investment properties to which they relate.

 

Included within creditors falling due within one year and falling due after more than one year is an aggregate amount of £26,482 (2022: £36,294) in respect of bank loan which is guaranteed by the government under the Bounce Back Loan Scheme.

317 HILLS ROAD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
6
Creditors: amounts falling due after more than one year
(Continued)
- 4 -
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable other than by instalments
1,470,183
1,470,183
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
100
100
100
100
8
Related party transactions

Included within other debtors is an aggregate amount of £517,959 (2022: £510,000) due from companies under common control.

 

Included within other creditors is £nil (2022: £2,933) owed to a company under common control.

 

Included in other creditors is £1,544,782 (2022: £1,544,782) owed to the director.

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