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REGISTERED NUMBER: 01635107 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

HILLSIDE PROPERTY COMPANY LIMITED

HILLSIDE PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01635107)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

HILLSIDE PROPERTY COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mrs P Atkinson
D C M Atkinson
T Atkinson
Ms S Atkinson
Ms E Wilson





SECRETARY: Mrs P Atkinson





REGISTERED OFFICE: Vine House
187 Henbury Road
Henbury
Bristol
BS10 7AD





REGISTERED NUMBER: 01635107 (England and Wales)





ACCOUNTANTS: PJE Chartered Accountants
2 Oakfield Road
Clifton
Bristol
BS8 2AL

HILLSIDE PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01635107)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,494 1,044
Investment property 5 11,308,354 11,268,354
11,309,848 11,269,398

CURRENT ASSETS
Debtors 6 10,443 9,035
Cash at bank 1,286,000 190,912
1,296,443 199,947
CREDITORS
Amounts falling due within one year 7 1,928,786 915,080
NET CURRENT LIABILITIES (632,343 ) (715,133 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,677,505

10,554,265

CREDITORS
Amounts falling due after more than one
year

8

(2,129,817

)

(2,139,796

)

PROVISIONS FOR LIABILITIES (820,585 ) (830,585 )
NET ASSETS 7,727,103 7,583,884

HILLSIDE PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01635107)

BALANCE SHEET - continued
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 800 800
Capital redemption reserve 100 100
Other reserves 4,099,379 4,099,379
Retained earnings 3,626,824 3,483,605
7,727,103 7,583,884

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:





D C M Atkinson - Director


HILLSIDE PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01635107)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Hillside Property Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Equipment - 33% on straight line basis
Fixtures and fittings - 25% on reducing balance and 20% on straight line basis
Computer equipment - 33% on straight line basis

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


HILLSIDE PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01635107)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 53,246
Additions 1,568
At 31 May 2024 54,814
DEPRECIATION
At 1 June 2023 52,202
Charge for year 1,118
At 31 May 2024 53,320
NET BOOK VALUE
At 31 May 2024 1,494
At 31 May 2023 1,044

HILLSIDE PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01635107)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 11,268,354
Additions 40,000
At 31 May 2024 11,308,354
NET BOOK VALUE
At 31 May 2024 11,308,354
At 31 May 2023 11,268,354

The property portfolio was professionally valued in 2024 by the directors.
The directors consider that this valuation is still appropriate.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 10,443 9,035

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 252,576 339,117
Amounts owed to associates 4,625 5,425
Taxation and social security 59,555 67,101
Other creditors 1,612,030 503,437
1,928,786 915,080

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 2,129,817 2,139,796

HILLSIDE PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 01635107)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.5.24 31.5.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 369,635 760,523

9. RELATED PARTY DISCLOSURES

The directors maintained a director's loan account with the company throughout the year.

At the year end the balance owed to the directors amounted to £436,413 ( 2023 - £451,767)

10. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HILLSIDE PROPERTY COMPANY LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hillside Property Company Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hillside Property Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hillside Property Company Limited and state those matters that we have agreed to state to the Board of Directors of Hillside Property Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hillside Property Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hillside Property Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hillside Property Company Limited. You consider that Hillside Property Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hillside Property Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






PJE Chartered Accountants
2 Oakfield Road
Clifton
Bristol
BS8 2AL


CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HILLSIDE PROPERTY COMPANY LIMITED



19 November 2024