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REGISTERED NUMBER: 00380864 (England and Wales)















HILLS OF SPALDING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






HILLS OF SPALDING LIMITED (REGISTERED NUMBER: 00380864)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


HILLS OF SPALDING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mrs K E Freeman
Mr G P Allmand





SECRETARY: Mr G P Allmand





REGISTERED OFFICE: 3 Bourne Road
Langtoft
Peterborough
PE6 9LR





REGISTERED NUMBER: 00380864 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

HILLS OF SPALDING LIMITED (REGISTERED NUMBER: 00380864)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 700,000 724,287

CURRENT ASSETS
Debtors 5 5,178 6,064
Cash at bank 25,870 35,938
31,048 42,002
CREDITORS
Amounts falling due within one year 6 7,695 4,894
NET CURRENT ASSETS 23,353 37,108
TOTAL ASSETS LESS CURRENT LIABILITIES 723,353 761,395

CAPITAL AND RESERVES
Called up share capital 2,550 2,550
Revaluation reserve 28,832 308,312
Capital redemption reserve 2,550 2,550
Retained earnings 689,421 447,983
SHAREHOLDERS' FUNDS 723,353 761,395

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 16 January 2025 and were signed on its behalf by:





Mrs K E Freeman - Director


HILLS OF SPALDING LIMITED (REGISTERED NUMBER: 00380864)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Hills of Spalding 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income received from land and buildings owned by the company.

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.


Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Pension costs and other post-retirement benefits
The pension costs charged in the financial statements represent the contributions payable by the company during the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

HILLS OF SPALDING LIMITED (REGISTERED NUMBER: 00380864)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. PROPERTY, PLANT AND EQUIPMENT
Land and
buildings
£   
COST OR VALUATION
At 1 May 2023 800,000
Revaluation (100,000 )
At 30 April 2024 700,000
DEPRECIATION
At 1 May 2023 75,713
Revaluation (75,713 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 700,000
At 30 April 2023 724,287

Cost or valuation at 30 April 2024 is represented by:

Land and
buildings
£   
Valuation in 2024 700,000

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 671,167 671,167

Value of land in freehold land and buildings 42,867 42,867

Freehold land and buildings were valued on an existing use basis on 30 April 2024 by the directors.


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,843
Other debtors 5,178 4,221
5,178 6,064

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,731 950
Taxation and social security - 3,349
Other creditors 964 595
7,695 4,894

HILLS OF SPALDING LIMITED (REGISTERED NUMBER: 00380864)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CALLED UP SHARE CAPITAL

Allotted, Issued and fully paid:

Number: Class: Nominal Value 2024 2023
£    £   
2,805 A Ordinary 50p 1,403 1,403
765 B Ordinary 50p 383 383
765 C Ordinary 50p 382 382
765 D Ordinary 50p 382 382
------------ -----------
2,550 2,550
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