Company registration number 14185366 (England and Wales)
NORTH HILL COURT LAND LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
NORTH HILL COURT LAND LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
NORTH HILL COURT LAND LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
30 September 2024
30 June 2023
as restated
Notes
£
£
£
£
Fixed assets
Investment property
3
495,560
495,560
Current assets
Debtors
4
16,700
-
0
Cash at bank and in hand
1,450
-
0
18,150
-
0
Creditors: amounts falling due within one year
5
(516,539)
(496,960)
Net current liabilities
(498,389)
(496,960)
Net liabilities
(2,829)
(1,400)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(2,929)
(1,500)
Total equity
(2,829)
(1,400)

For the financial year ended 30 September 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 May 2025 and are signed on its behalf by:
Mr J Seed
Director
Company registration number 14185366 (England and Wales)
NORTH HILL COURT LAND LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

North Hill Court Land Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2-4 Packhorse Road, Gerrards Cross, Buckinghamshire, SL9 7QE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

NORTH HILL COURT LAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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. Amounts 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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 July 2023 and 30 September 2024
495,560

Investment properties are shown at fair value required by FRS 102 1A. The valuation has been determined by the directors who believe that £495,560 represents the fair value of the investment properties held at the balance sheet date.

NORTH HILL COURT LAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
16,700
-
0
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,239
-
0
Other creditors
515,300
496,960
516,539
496,960
6
Prior period adjustment

A prior period adjustment has been put through in 2024 in relation to the 2023 cost of Investment Property. The 6 flats owned by the company had been valued in 2023 per the amounts included on the completion statements which were subsequently found to be incorrect. The directors feel these costs should be corrected to show the correct value, this adjustment reflects this movement.

Changes to the balance sheet
As previously reported
Adjustment
As restated at 30 Jun 2023
£
£
£
Fixed assets
Investment properties
602,330
(106,770)
495,560
Creditors due within one year
Loans and overdrafts
(602,230)
106,770
(495,460)
Net assets
(1,400)
-
(1,400)
Capital and reserves
Total equity
(1,400)
-
(1,400)
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 30 June 2023
£
£
£
Loss for the financial period
(1,500)
-
(1,500)
Reconciliation of changes in equity
The prior period adjustments do not give rise to any effect upon equity.
NORTH HILL COURT LAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
6
Prior period adjustment
(Continued)
- 5 -
Reconciliation of changes in loss for the previous financial period
2023
£
Total adjustments
-
Loss as previously reported
(1,500)
Loss as adjusted
(1,500)
2024-09-302023-07-01falsefalsefalse21 May 2025CCH SoftwareCCH Accounts Production 2025.100Property management
Ms A M DoeffMr J Seed
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