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REGISTERED NUMBER: 02886819 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

HILTON PROPERTIES LIMITED

HILTON PROPERTIES LIMITED (REGISTERED NUMBER: 02886819)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HILTON PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mrs S A Hilton
P A Hilton





REGISTERED OFFICE: Unit 2 Raynham Road
Bishop's Stortford
Hertfordshire
CM23 5PJ





REGISTERED NUMBER: 02886819 (England and Wales)





ACCOUNTANTS: Lucentum Business Services Ltd
Beckwith Barn
Warren Estate
Lordship Road
Chelmsford
Essex
CM1 3WT

HILTON PROPERTIES LIMITED (REGISTERED NUMBER: 02886819)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 5,208 6,947
Investments 6 45 45
Investment property 7 39,541,393 39,163,491
39,546,646 39,170,483

CURRENT ASSETS
Stocks 8 2,646,082 2,646,082
Debtors 9 4,096,663 2,731,205
Cash at bank and in hand 1,548,785 1,414,404
8,291,530 6,791,691
CREDITORS
Amounts falling due within one year 10 5,097,413 4,156,936
NET CURRENT ASSETS 3,194,117 2,634,755
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,740,763

41,805,238

CREDITORS
Amounts falling due after more than one
year

11

(6,939,018

)

(6,939,018

)

PROVISIONS FOR LIABILITIES 12 (5,852,412 ) (5,757,570 )
NET ASSETS 29,949,333 29,108,650

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 29,949,133 29,108,450
SHAREHOLDERS' FUNDS 29,949,333 29,108,650

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.

HILTON PROPERTIES LIMITED (REGISTERED NUMBER: 02886819)

BALANCE SHEET - continued
30 APRIL 2024


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 27 January 2025 and were signed on its behalf by:





P A Hilton - Director


HILTON PROPERTIES LIMITED (REGISTERED NUMBER: 02886819)

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

1. STATUTORY INFORMATION

Hilton Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Amounts in the financial statements have been rounded to the nearest Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is recognised over the lease term of the investment properties net of VAT and discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also 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.

HILTON PROPERTIES LIMITED (REGISTERED NUMBER: 02886819)

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

3. 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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2023
and 30 April 2024 60,753
DEPRECIATION
At 1 May 2023 53,806
Charge for year 1,739
At 30 April 2024 55,545
NET BOOK VALUE
At 30 April 2024 5,208
At 30 April 2023 6,947

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 May 2023
and 30 April 2024 45
NET BOOK VALUE
At 30 April 2024 45
At 30 April 2023 45

HILTON PROPERTIES LIMITED (REGISTERED NUMBER: 02886819)

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

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 39,163,491
Additions 37,422
Revaluations 340,480
At 30 April 2024 39,541,393
NET BOOK VALUE
At 30 April 2024 39,541,393
At 30 April 2023 39,163,491

The fair value of the investment property has been arrived at on the basis of a calculation carried out by the directors of the company at the closing of the financial year. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2016 3,084,865
Valuation in 2017 1,292,559
Valuation in 2018 793,026
Valuation in 2020 1,532,319
Valuation in 2021 7,728,530
Valuation in 2022 8,905,189
Valuation in 2024 340,480
Cost 15,864,425
39,541,393

8. STOCKS
2024 2023
£    £   
Work-in-progress 2,646,082 2,646,082

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 39,225 11,111
Other debtors 4,057,438 2,720,094
4,096,663 2,731,205

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 350,757 401,463
Amounts owed to group undertakings 45 45
Taxation and social security 342,193 347,532
Other creditors 4,404,418 3,407,896
5,097,413 4,156,936

HILTON PROPERTIES LIMITED (REGISTERED NUMBER: 02886819)

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

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,939,018 6,939,018

Bank borrowings are secured by way of fixed and floating charges over the company's freehold properties. The charges are also held over Mr & Mrs Hilton's personally owned property. The company has also given an unlimited cross guarantee to support the bank facilities made available to Hilton Limited. a company which Mr & Mrs Hilton are directors and controlling shareholders.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 5,852,412 5,757,570

Deferred
tax
£   
Balance at 1 May 2023 5,757,570
Charge to Income Statement during year 94,842
Balance at 30 April 2024 5,852,412

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, a loan was provided to the company by the directors. The amount owed by the company to the directors as at the balance sheet date was £1,826,637 (2023: £1,992,964).

14. RELATED PARTY DISCLOSURES

A loan was provided to the company Hilton Limited, a connected company. The balance owed by the company at 30 April 2024 was £2,337,638 (2023: £1,187,633).

During the year, a loan was provided by the company to Hilton & Moss Sportscars Limited, a connected company. The amount owed by Hilton & Moss Sportscars Limited at 30 April 2024 was £2,822,997 (2023: £2,227,997).

A loan continued to be provided by the company to Russell Property (Stansted) Limited, a connected company. The balance owed by Russell Property (Stansted) Limited at 30 April 2024 was £24,955 (2023: £24,955).

15. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr P Hilton and Mrs S Hilton by virtue of their majority holding of the issued share capital.

HILTON PROPERTIES LIMITED (REGISTERED NUMBER: 02886819)

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

16. OPERATING LEASE COMMITMENTS

Lessor
At the reporting end date the company had contracted tenants for the following minimum lease payments:

2024 2023
£ £   

5,227,006 5,782,450