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Registered number: 12804230









THE HILL PROPERTY HOLDING COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
THE HILL PROPERTY HOLDING COMPANY LIMITED
REGISTERED NUMBER: 12804230

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
589,373
601,913

Current assets
  

Debtors: amounts falling due within one year
 5 
8,650
21,294

Cash at bank and in hand
 6 
6,383
13,689

  
15,033
34,983

Creditors: amounts falling due within one year
 7 
(238,112)
(258,827)

Net current liabilities
  
 
 
(223,079)
 
 
(223,844)

Total assets less current liabilities
  
366,294
378,069

Creditors: amounts falling due after more than one year
 8 
(339,793)
(355,132)

  

Net assets
  
26,501
22,937


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
26,401
22,837

  
26,501
22,937


Page 1

 
THE HILL PROPERTY HOLDING COMPANY LIMITED
REGISTERED NUMBER: 12804230
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

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 




A D Hill
Director

Date: 25 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
THE HILL PROPERTY HOLDING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The Hill Property Holding Company Limited is a private company, limited by shares, registered in England and Wales. The company registered office is 26-27 The Hill, Northfleet, Gravesend, DA11 9EU. The principal activity of the company is the letting of commercial property.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

Page 3

 
THE HILL PROPERTY HOLDING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model 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.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Freehold property
-
50 years

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 profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 4

 
THE HILL PROPERTY HOLDING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Tangible fixed assets







Freehold property

£



Cost or valuation


At 1 March 2023
626,993



At 29 February 2024

626,993



Depreciation


At 1 March 2023
25,080


Charge for the year on owned assets
12,540



At 29 February 2024

37,620



Net book value



At 29 February 2024
589,373



At 28 February 2023
601,913


5.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
8,171
20,815

Prepayments
479
479

8,650
21,294


Page 5

 
THE HILL PROPERTY HOLDING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
6,383
13,689

6,383
13,689



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
16,920
35,501

Corporation tax
3,778
6,032

Other creditors
211,114
211,114

Accruals and deferred income
6,300
6,180

238,112
258,827


The bank loans are secured by a first legal mortgage over freehold property.


8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
339,793
355,132

339,793
355,132


Page 6

 
THE HILL PROPERTY HOLDING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
16,920
35,501

Amounts falling due 1-2 years

Bank loans
19,168
35,501

Amounts falling due 2-5 years

Bank loans
45,644
94,502

Amounts falling due after more than 5 years

Bank loans
274,981
225,129

356,713
390,633



10.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



11.


Related party transactions

Included within other creditors due within one year are balances owed to the directors totalling £188,881 (2023 - £188,881), all of which are interest free and repayable on demand.
Included within other debtors due within one year is balance of £8,171 due from Whitedode Consulting Limited.


12.


Controlling party

There is no individual controlling party.
 
Page 7