Company No:
Contents
DIRECTOR | N D Hill |
SECRETARY | D A Hill |
REGISTERED OFFICE | 38 Barnbygate |
Newark | |
NG24 1PZ | |
United Kingdom |
COMPANY NUMBER | 01449169 (England and Wales) |
ACCOUNTANT | Duncan & Toplis Limited |
14 London Road | |
Newark | |
NG24 1TW |
Note | 2025 | 2024 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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4,096,902 | 3,658,784 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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118,841 | 127,006 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (356,762) | (347,961) | ||
Total assets less current liabilities | 3,740,140 | 3,310,823 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Fair value reserve |
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Profit and loss account |
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Total shareholders' funds |
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Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Hills of Newark Ltd (registered number:
N D Hill
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Hills of Newark Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 38 Barnbygate, Newark, NG24 1PZ, United Kingdom.
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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Land and buildings | not depreciated |
Plant and machinery etc. | 15 -
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
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.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
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.
2025 | 2024 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 February 2024 |
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Additions |
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Revaluations | (
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At 31 January 2025 |
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Accumulated depreciation | |||||
At 01 February 2024 |
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Charge for the financial year |
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At 31 January 2025 |
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Net book value | |||||
At 31 January 2025 |
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At 31 January 2024 |
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Investment property | |
£ | |
Valuation | |
As at 01 February 2024 |
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Additions | 270,703 |
Fair value movement | 239,297 |
As at 31 January 2025 |
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Valuation
The directors carried out the property valuation having regard to the market based evidence for similar properties sold in the local area, subject to occupational leases where appropriate.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
2025 | 2024 | ||
£ | £ | ||
Historic cost | 1,622,817 | 1,352,114 |
2025 | 2024 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2025 | 2024 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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2025 | 2024 | ||
£ | £ | ||
Bank loans |
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2025 | 2024 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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10,000 | 10,000 |