Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01falseThe principal activity of the company continued to be that of property investment.12falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01044324 2023-07-01 2024-06-30 01044324 2022-07-01 2023-06-30 01044324 2024-06-30 01044324 2023-06-30 01044324 2022-07-01 01044324 2 2023-07-01 2024-06-30 01044324 d:Director1 2023-07-01 2024-06-30 01044324 e:FreeholdInvestmentProperty 2024-06-30 01044324 e:FreeholdInvestmentProperty 2023-06-30 01044324 e:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 01044324 e:CurrentFinancialInstruments 2024-06-30 01044324 e:CurrentFinancialInstruments 2023-06-30 01044324 e:CurrentFinancialInstruments e:WithinOneYear 2024-06-30 01044324 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 01044324 e:ShareCapital 2024-06-30 01044324 e:ShareCapital 2023-06-30 01044324 e:ShareCapital 2022-07-01 01044324 e:OtherMiscellaneousReserve 2024-06-30 01044324 e:OtherMiscellaneousReserve 2 2023-07-01 2024-06-30 01044324 e:OtherMiscellaneousReserve 2023-06-30 01044324 e:OtherMiscellaneousReserve 2022-07-01 01044324 e:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 01044324 e:RetainedEarningsAccumulatedLosses 2024-06-30 01044324 e:RetainedEarningsAccumulatedLosses 2 2023-07-01 2024-06-30 01044324 e:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 01044324 e:RetainedEarningsAccumulatedLosses 2023-06-30 01044324 e:RetainedEarningsAccumulatedLosses 2022-07-01 01044324 d:FRS102 2023-07-01 2024-06-30 01044324 d:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 01044324 d:FullAccounts 2023-07-01 2024-06-30 01044324 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01044324 2 2023-07-01 2024-06-30 01044324 6 2023-07-01 2024-06-30 01044324 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 01044324










HILLGATE INDUSTRIAL ESTATES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
HILLGATE INDUSTRIAL ESTATES LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 9


 
HILLGATE INDUSTRIAL ESTATES LIMITED
REGISTERED NUMBER: 01044324

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,252,549
1,277,541

Investment property
 5 
2,500,000
2,600,000

  
3,752,549
3,877,541

Current assets
  

Debtors: amounts falling due within one year
 6 
814,354
781,249

Cash at bank and in hand
  
346,292
220,251

  
1,160,646
1,001,500

Creditors: amounts falling due within one year
 7 
(609,124)
(557,698)

Net current assets
  
 
 
551,522
 
 
443,802

Total assets less current liabilities
  
4,304,071
4,321,343

  

Net assets
  
4,304,071
4,321,343


Capital and reserves
  

Called up share capital 
  
200,000
200,000

Other reserves
  
2,266,557
2,366,557

Profit and loss account
  
1,837,514
1,754,786

Shareholders' funds
  
4,304,071
4,321,343


Page 1

 
HILLGATE INDUSTRIAL ESTATES LIMITED
REGISTERED NUMBER: 01044324
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers 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 director acknowledges his 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 profit and loss account 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 on 31 January 2025.


................................................
C N Phoenix
Director

The notes on 6 to 9 form part of these financial statements.

Page 2

 
HILLGATE INDUSTRIAL ESTATES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 July 2023
200,000
2,366,557
1,754,786
4,321,343



Loss for the year
-
-
(17,272)
(17,272)

Transfer to other reserve
-
(100,000)
100,000
-


At 30 June 2024
200,000
2,266,557
1,837,514
4,304,071



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 July 2022
200,000
2,366,557
1,650,702
4,217,259



Profit for the year
-
-
104,084
104,084


At 30 June 2023
200,000
2,366,557
1,754,786
4,321,343


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
HILLGATE INDUSTRIAL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company is a private company limited by share capital, incorporated in England and Wales (01044324). The address of the registered office is 24 Fitzroy Square, London, W1T 6EP.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

  
2.3

Revenue

Revenue represents rent receivable net of VAT and is recognised in the period to which it relates.

  
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and periodically by external valuers. These are derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.

 
2.5

Going concern

The directors have prepared the accounts on a going concern basis taking into account the current market position and prospects of the company and also the continued working capital support provided by the parent company.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at fair value at each balance sheet date with gains and losses on remeasurement being recognised in the Profit and Loss Account for the period.

 
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.

Page 4

 
HILLGATE INDUSTRIAL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
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

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
 
Page 5

 
HILLGATE INDUSTRIAL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.10

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.

 
2.11

Finance costs

Finance costs are charged to profit or loss 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.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 6

 
HILLGATE INDUSTRIAL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.13

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
1,277,541


Revaluations
(24,992)



At 30 June 2024
1,252,549




Page 7

 
HILLGATE INDUSTRIAL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
2,600,000


Deficit on revaluation
(100,000)



At 30 June 2024
2,500,000

The fair value of the investment properties have been arrived on the basis of a valuation which was carried out on 30 June 2024 by the directors of the company for the amount of £2,500,000.
The valuation was made on an open market value basis derived from current market rents for similar properties, adjusted if necessary for any difference in nature, location or condition of the specific asset. 
The cost of the investment properties is £1,124,790.





6.


Debtors

2024
2023
£
£


Trade debtors
16,371
16,371

Other debtors
785,434
752,585

Prepayments and accrued income
12,549
12,293

814,354
781,249



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
5,188
3,840

Corporation tax
31,096
-

Other taxation and social security
7,528
6,896

Other creditors
506,780
508,430

Accruals and deferred income
58,532
38,532

609,124
557,698


Page 8

 
HILLGATE INDUSTRIAL ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Related party transactions

At the balance sheet date £35,341 (2023: £Nil) was due from the director. Interest of £341 (2023: £Nil) has been charged on this balance.
At the balance sheet date £370,510 (2023: £352,160) was owed to companies under common control. No interest is charged on any of these balances.
At the balance sheet date £136,270 (2023: £136,270) was owed to companies with a common director. No interest is charged on any of these balances.
Included within administrative expenses is £61,137 (2023: £41,888) incurred from companies under common control.
The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ not to disclose related party transactions between two or more wholly owned members of a group.

 
Page 9