Company registration number 10095538 (England and Wales)
ANGLO HILLWOOD LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
ANGLO HILLWOOD LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
ANGLO HILLWOOD LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
33,662
33,662
Investment properties
4
1,297,348
1,015,101
Investments
5
6,425,044
6,471,506
7,756,054
7,520,269
Current assets
Debtors
7
11,272
7,760
Cash at bank and in hand
109,169
65,968
120,441
73,728
Creditors: amounts falling due within one year
8
(20,315)
(6,724)
Net current assets
100,126
67,004
Total assets less current liabilities
7,856,180
7,587,273
Deferred tax liabilities
(163,425)
(367,412)
Net assets
7,692,755
7,219,861
Capital and reserves
Called up share capital
9
234,320
234,320
Profit and loss reserves
7,458,435
6,985,541
Total equity
7,692,755
7,219,861

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

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 by the board of directors and authorised for issue on 27 November 2024 and are signed on its behalf by:
R G S Prenter
Director
Company Registration No. 10095538
ANGLO HILLWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Anglo Hillwood Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Walkergate, Berwick Upon Tweed, Northumberland, TD15 1DJ.

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 the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents rental income receivable.

1.4
Tangible fixed assets

Freehold land is measured at cost and is not depreciated.

1.5
Investment properties

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

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

ANGLO HILLWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.7
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.

Debtors

Debtors with no stated interest rate or receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Creditors

Creditors with no stated interest rate and payable within one year are recorded at transaction price.

1.8
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.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ANGLO HILLWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
2
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 May 2023 and 30 April 2024
33,662
Depreciation and impairment
At 1 May 2023 and 30 April 2024
-
0
Carrying amount
At 30 April 2024
33,662
At 30 April 2023
33,662
4
Investment properties
2024
£
Fair value
At 1 May 2023
1,015,101
Additions
282,247
At 30 April 2024
1,297,348

Investment properties comprise residential properties available for letting. The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the directors at the balance sheet date. The valuation was made on an open market basis by reference to the market evidence of the transaction prices for similar properties.

 

5
Fixed asset investments
2024
2023
£
£
Investments
6,425,044
6,471,506
ANGLO HILLWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
5
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in group undertakings
Listed investments
Unlisted investments
Total
£
£
£
£
Cost or valuation
At 1 May 2023
463,640
6,430,032
41,474
6,935,146
Additions
-
521,836
-
521,836
Unrealised gain
-
304,995
-
304,995
Disposals
(234,320)
(853,768)
(19,525)
(1,107,613)
At 30 April 2024
229,320
6,403,095
21,949
6,654,364
Impairment
At 1 May 2023
463,640
-
-
463,640
Disposals
(234,320)
-
-
(234,320)
At 30 April 2024
229,320
-
-
229,320
Carrying amount
At 30 April 2024
-
6,403,095
21,949
6,425,044
At 30 April 2023
-
6,387,870
83,636
6,471,506
6
Subsidiaries

Details of the company's subsidiaries at 30 April 2024 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Hillwood Investments Limited
1
Ordinary
100.00

Registered office addresses (all UK unless otherwise indicated):

1
5th Floor Quartermile Two, 2 Lister Square, Edinburgh, Lothian, EH3 9GL

Hillwood Holdings Limited was a 100% subsidiary undertaking until it was dissolved on 23 January 2024.

7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
5,000
5,000
Other debtors
6,272
2,760
11,272
7,760
ANGLO HILLWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
8
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1
1
Other creditors
20,314
6,723
20,315
6,724
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
229,320
229,320
229,320
229,320
A Ordinary shares of £1 each
5,000
5,000
5,000
5,000
234,320
234,320
234,320
234,320
10
Related party transactions

The company received all of the assets and liabilities of a subsidiary company during the prior year.

 

The directors are of the opinion that all related party transactions are conducted under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS 102 section 1A appendix C.

11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Iain Binnie.
The auditor was MHA.
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