REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
176 HOLDERS HILL LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
176 HOLDERS HILL LIMITED |
176 HOLDERS HILL LIMITED (REGISTERED NUMBER: 11677346) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
176 HOLDERS HILL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
Director: |
Secretary: |
Registered office: |
Registered number: |
176 HOLDERS HILL LIMITED (REGISTERED NUMBER: 11677346) |
BALANCE SHEET |
30 NOVEMBER 2023 |
30/11/23 | 30/11/22 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
176 HOLDERS HILL LIMITED (REGISTERED NUMBER: 11677346) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
176 Holders Hill Limited is a |
The company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Turnover |
Turnover represents the proceeds from sales of properties. The income is recognised when there is a right to consideration and is recorded at the consideration due. |
Investment property |
The investment properties are initially recognised at cost. The property is subsequently valued at fair value at each reporting date with changes in fair value recognised in profit or loss. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 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. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price. |
Going concern |
The financial statements have been prepared on the going concern basis and the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future through the continued support from the shareholders. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
176 HOLDERS HILL LIMITED (REGISTERED NUMBER: 11677346) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 1 December 2022 |
Additions |
Revaluations | 215,333 |
At 30 November 2023 |
Net book value |
At 30 November 2023 |
At 30 November 2022 |
Fair value at 30 November 2023 is represented by: |
£ |
Valuation in 2023 | 1,225,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/11/23 | 30/11/22 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/11/23 | 30/11/22 |
£ | £ |
Trade creditors |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30/11/23 | 30/11/22 |
£ | £ |
Other creditors |
8. | RELATED PARTY DISCLOSURES |
The company has taken a loan of £1,000,000 for purchase of the property in 2019 from Astro International Investments Limited, one of it's shareholders. Interest is payable at the fixed rate of 1.2% per annum above Sterling LIBOR, as varied from time to time, accruing daily and payable at the same time as repayment of the principal. Interest on the loan amounts to £56,098 (2022: £24,024). |
The company has also taken an additional loan of £600,000 in 2019 from Astro International Investments Limited. Interest is payable at the fixed rate of 1.2% per annum above Sterling LIBOR, as varied from time to time, accruing daily and payable at the same time as repayment of the principal. Interest on the loan amounts to £nil (2022: £2,658). The loan has been repaid in full during the year. |
The company has received additional funds from Astro International Investments. The balance of these additional funds at the balance sheet date is £81,012 (2022: £51,012). Interest is payable at the fixed rate of 1.2% per annum above Sterling LIBOR, as varied from time to time, accruing daily and payable at the same time as repayment of the principal. Interest on this loan amounts to £1,801 (2022: £930). |