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COMPANY REGISTRATION NUMBER: 11791332
Holly Hill Investments Ltd
Filleted Unaudited Financial Statements
31 January 2024
Holly Hill Investments Ltd
Financial Statements
Year ended 31 January 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Holly Hill Investments Ltd
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
1,292
2,935
Investments
6
174,444
174,444
---------
---------
175,736
177,379
Current assets
Cash at bank and in hand
38,128
8,351
Creditors: amounts falling due within one year
7
285,680
247,089
---------
---------
Net current liabilities
247,552
238,738
---------
---------
Total assets less current liabilities
( 71,816)
( 61,359)
--------
--------
Net liabilities
( 71,816)
( 61,359)
--------
--------
Capital and reserves
Called up share capital
20
20
Profit and loss account
( 71,836)
( 61,379)
--------
--------
Shareholders deficit
( 71,816)
( 61,359)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Holly Hill Investments Ltd
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 28 October 2024 , and are signed on behalf of the board by:
J J Drew
Director
Company registration number: 11791332
Holly Hill Investments Ltd
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 49 The Ridgeway, London, NW11 8QP, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the directors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
16% straight line
Equipment
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 February 2023 and 31 January 2024
7,753
1,756
9,509
-------
-------
-------
Depreciation
At 1 February 2023
5,169
1,405
6,574
Charge for the year
1,292
351
1,643
-------
-------
-------
At 31 January 2024
6,461
1,756
8,217
-------
-------
-------
Carrying amount
At 31 January 2024
1,292
1,292
-------
-------
-------
At 31 January 2023
2,584
351
2,935
-------
-------
-------
6. Investments
Other investments other than loans
£
Cost
At 1 February 2023 and 31 January 2024
174,444
---------
Impairment
At 1 February 2023 and 31 January 2024
---------
Carrying amount
At 31 January 2024
174,444
---------
At 31 January 2023
174,444
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
285,680
247,089
---------
---------
8. Related party transactions
At the year end the company owed the directors £285,341 (2023: £246,819).