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Registered number: 08038230
Hill Farm Avenue Limited
Financial Statements
For The Year Ended 30 April 2024
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08038230
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 267,162 237,132
267,162 237,132
CURRENT ASSETS
Debtors 5 903,252 528,429
Cash at bank and in hand 170,597 569,214
1,073,849 1,097,643
Creditors: Amounts Falling Due Within One Year 6 (245,143 ) (281,092 )
NET CURRENT ASSETS (LIABILITIES) 828,706 816,551
TOTAL ASSETS LESS CURRENT LIABILITIES 1,095,868 1,053,683
Creditors: Amounts Falling Due After More Than One Year 7 (38,863 ) -
NET ASSETS 1,057,005 1,053,683
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 1,056,905 1,053,583
SHAREHOLDERS' FUNDS 1,057,005 1,053,683
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr N Slagel
Director
28/04/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Hill Farm Avenue Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08038230 . The registered office is 1 Beauchamp Court, 10 Victors Way, Barnet, Hertfordshire, EN5 5TZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Motor Vehicles 20% on reducing balance method
Fixtures & Fittings 20% on reducing balance method
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
...CONTINUED
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2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 185,849 78,395 33,627 297,871
Additions - 40,113 10,245 50,358
As at 30 April 2024 185,849 118,508 43,872 348,229
Depreciation
As at 1 May 2023 - 40,206 20,533 60,739
Provided during the period - 15,660 4,668 20,328
As at 30 April 2024 - 55,866 25,201 81,067
Net Book Value
As at 30 April 2024 185,849 62,642 18,671 267,162
As at 1 May 2023 185,849 38,189 13,094 237,132
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 301,990 21,856
Amounts owed by group undertakings 601,262 394,107
Amounts owed by participating interests - 105,000
903,252 520,963
...CONTINUED
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Due after more than one year
Other debtors - 7,466
903,252 528,429
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 126,209 101,054
Bank loans and overdrafts 3,414 2,287
Other creditors 61,232 145,629
Taxation and social security 54,288 32,122
245,143 281,092
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Finance lease 38,863 -
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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