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Registered number: 14553927









HILLA GROUP NORTHAMPTON LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
COMPANY INFORMATION


 
Director
R Elalouf 




Registered number
14553927



Registered office
101 New Cavendish Street
First Floor South

London

W1W 6XH




Independent auditors
Harris & Trotter LLP
Chartered Accountants & Statutory Auditors

101 New Cavendish Street

1st Floor South

London

W1W 6XH





 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
CONTENTS



Page
Director's Report
1 - 2
Independent Auditors' Report
3 - 5
Statement of Profit or Loss and Other Comprehensive Income
6
Statement of Financial Position
7 - 8
Statement of Changes in Equity
9
Notes to the Financial Statements
10 - 19
Detailed Profit and Loss Account and Summaries
19

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The director presents his report and the financial statements for the year ended 31 December 2024.

Director

The director who served during the year was:

R Elalouf 

Director's responsibilities statement

The director is responsible for preparing the Director's Report and the financial statements, in accordance with applicable law.

Company law requires the director to prepare financial statements for each financial year. Under that law he has elected to prepare the financial statements in accordance with International Financial Reporting Standards (IFRS) as adopted by the UK.

Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing the financial statements, the director is required to:

select suitable accounting policies and then apply them consistently;

make judgments and estimates that are reasonable and prudent;

state whether they have been prepared in accordance with IFRS as adopted by the UK, subject to any material departures disclosed and explained in the financial statements;

assess the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and

use the going concern basis of accounting unless he either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is responsible for such internal control as he determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and has general responsibility for taking such steps as are reasonably open to him to safeguard the assets of the Company and to prevent and detect fraud and other irregularities.

Disclosure of information to auditors

The director at the time when this Director's Report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the Company's auditors are unaware, and

he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 1

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Auditors

The auditorsHarris & Trotter LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 



R Elalouf
Director

Date: 28 March 2025
Page 2

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HILLA GROUP NORTHAMPTON LIMITED
 

Opinion


We have audited the financial statements of Hilla Group Northampton Limited for the year ended 31 December 2024 which comprise the Statement of Profit or Loss and Other Comprehensive Incomethe Statement of Financial Positionthe Statement of Changes in Equity and the related notes, including a summary of significant accounting policies set out on pages 10 - 12. The financial reporting framework that has been applied in their preparation is applicable law and International Financial Reporting Standards (IFRSs) as adopted by the United Kingdom.

In our opinion the financial statements:

give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its loss for the year then ended;

have been properly prepared in accordance with IFRSs as adopted by the United Kingdom; and

have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern


In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information


The other information comprises the information included in the Annual Report, other than the financial statements and our auditors' report thereon.  The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard.

Page 3

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HILLA GROUP NORTHAMPTON LIMITED (CONTINUED)


Opinion on other matters prescribed by the Companies Act 2006


In our opinion, based on the work undertaken in the course of the audit: 

the information given in the Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and the Director's Report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of director's remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.


Responsibilities of directors

As explained more fully in the director's responsibilities statement on page 1, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
 

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial
Page 4

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HILLA GROUP NORTHAMPTON LIMITED (CONTINUED)


statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
• We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the industry in which it operates. We determined that the following laws and regulations were most significant: IFRS and the Companies Act 2006.
• We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making enquiries of management.
• We challenged assumptions and judgments made by management in its significant accounting estimates.
We did not identify any key audit matters relating to irregularities, including fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.




 
 
Leigh Genis (Senior Statutory Auditor)
  
for and on behalf of
Harris & Trotter LLP
 
Chartered Accountants
Statutory Auditors
  
101 New Cavendish Street
1st Floor South
London
W1W 6XH

28 March 2025
Page 5

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024


Year ended
31 December
Period ended
31 December
2024
2023
Note
£
£

  

Revenue
 4 
401,424
309,857

Gross profit
  
401,424
309,857

  

Administrative expenses
  
(198,745)
(290,945)

Profit from operations
  
202,679
18,912

  

Finance income
 6 
-
381

Finance expense
 6 
(563,630)
(381,214)

Fair value gains
  
155,000
1,225,000

(Loss)/profit before tax
  
(205,951)
863,079

  

Tax credit/(expense)
 7 
51,496
(215,778)

(Loss)/profit for the year
  
(154,455)
647,301


Total comprehensive income
  
(154,455)
647,301

The notes on pages 10 to 19 form part of these financial statements.

Page 6

 
HILLA GROUP NORTHAMPTON LIMITED
REGISTERED NUMBER: 14553927
 
 
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024


2024
2023
Note
£
£

Assets

Non-current assets
  

Investment property
 8 
4,130,000
3,975,000

  
4,130,000
3,975,000

Current assets
  

Trade and other receivables
 9 
41,664
42,144

Cash and cash equivalents
  
27
4

  
41,691
42,148

  

Total assets

  

4,171,691
4,017,148

Liabilities

Non-current liabilities
  

Deferred tax liability
 7 
164,282
215,778

  
164,282
215,778

Current liabilities
  

Trade and other liabilities
 10 
3,514,562
1,396,175

  
3,514,562
3,154,068

  

Total liabilities
  
3,678,844
3,369,846

  

  

Net assets
  
492,847
647,302


Issued capital and reserves
  

Share capital
 12 
1
1

Other reserves
  
1,035,000
918,750

Retained earnings
  
(542,154)
(271,449)

TOTAL EQUITY
  
492,847
647,302

The financial statements on pages 6 to 19 were approved and authorised for issue by the board of  and were signed on its behalf by:


Page 7

 
HILLA GROUP NORTHAMPTON LIMITED
REGISTERED NUMBER: 14553927
 
 
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024




R Elalouf
Director

Date: 28 March 2025

The notes on pages 10 to 19 form part of these financial statements.

Page 8

 
HILLA GROUP NORTHAMPTON LIMITED

 
 
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024



Share capital
Other reserves
Retained earnings
Total equity


£
£
£
£

Profit for the period
-
-
647,301
647,301

Total comprehensive income for the year
-
-
647,301
647,301

Issue of share capital
1
-
-
1

Total contributions by and distributions to owners
1
918,750
(918,750)
1

At 31 December 2023
1
918,750
(271,449)
647,302

At 1 January 2024
-
918,750
(271,449)
647,301

Loss for the year
-
-
(154,455)
(154,455)

Total comprehensive income for the year
-
-
(154,455)
(154,455)

Issue of share capital
1
-
-
1

Total contributions by and distributions to owners
1
116,250
(116,250)
1

At 31 December 2024
1
1,035,000
(542,154)
492,847

The notes on pages 10 to 19 form part of these financial statements.

Page 9

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies

 
1.1

Revenue

Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The Company recognises revenue on a quarterly basis when it falls due.  

The Company does not expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence, the Company does not adjust any of the transaction prices for the time value of money.


1.2

Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
1.3

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.


(i) Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from ‘profit before tax’ as reported in the Statement of Profit or Loss and Other 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 current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Page 10

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies (continued)


1.3
Taxation (continued)


(ii) Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary 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 temporary differences can be utilised. Such deferred tax assets and liabilities are not recognised if the temporary difference arises from the initial recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit. In addition, deferred tax liabilities are not recognised if the temporary difference arises from the initial recognition of goodwill.

Deferred tax liabilities are recognised for taxable temporary differences associated with investments in subsidiaries and associates, and interests in joint ventures, except where the Company is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments and interests are only recognised to the extent that it is probable that there will be sufficient taxable profits against which to utilise the benefits of the temporary differences and they are expected to reverse in the foreseeable future.

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.

Deferred tax liabilities and assets 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.

The measurement of deferred tax liabilities and assets reflects 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.

For the purposes of measuring deferred tax liabilities and deferred tax assets for investment properties that are measured using the fair value model, the carrying amounts of such properties are presumed to be recovered entirely through sale, unless the presumption is rebutted. The presumption is rebutted when the investment property is depreciable and is held within a business model whose objective is to consume substantially all of the economic benefits embodied in the investment property over time, rather than through sale. The director of the Company reviewed the Company's investment property portfolios and concluded that none of the Company's investment properties are held under a business model whose objective is to consume substantially all of the economic benefits embodied in the investment properties over time, rather than through sale. Therefore, the director have determined that the ‘sale’ presumption set out in the amendments to IAS 12 is not rebutted. As a result, the Company has not recognised any deferred taxes on changes in fair value of the investment properties as the Company is not subject to any income taxes on the fair value changes of the investment properties on disposal.

International tax reform - Pillar Two model rules

The Company has applied the mandatory exception to the recognition and disclosure of information about deferred tax assets and liabilities related to Pillar Two income taxes (i.e. income taxes arising from the jurisdictional implementation of OECD’s Pillar Two Model Rules).

Page 11

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies (continued)

 
1.4

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are measured initially at cost, including transaction costs. Subsequent to initial recognition, investment properties are measured at fair value. All of the Company's property interests held under operating leases to earn rentals or for capital appreciation purposes are accounted for as investment properties and are measured using the fair value model. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

An investment property is derecognised upon disposal or when the investment property is permanently withdrawn from use and no future economic benefits are expected from the disposal. Any gain or loss arising on derecognition of the property (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in profit or loss in the period in which the property is derecognised.

 
1.5

Financial instruments

Financial assets and financial liabilities are recognised when an entity becomes a party to the contractual provisions of the instruments.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.


2.


Reporting entity

Hilla Group Northampton Limited (the 'Company') is a limited company incorporated in the United Kingdom. The Company's registered office is at 101 New Cavendish Street, First Floor South, London, W1W 6XH. The Company's principal activity is that of property investment..


3.


Functional and presentation currency

These financial statements are presented in Pound Sterling, which is the Company's functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Page 12

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Revenue


The following is an analysis of the Company's revenue for the year from continuing operations:


Year ended
31 December
Period ended
31 December
2024
2023
£
£


Rent receivable
393,880
302,482

Insurance premiums receivable
7,349
7,375

Other income
195
-

401,424
309,857


Analysis of revenue by country of destination:

Year ended
31 December
Period ended
31 December
2024
2023
£
£


United Kingdom
401,424
309,857

401,424
309,857






5.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


Year ended
31 December
Period ended
31 December
2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
15,000
15,000

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.

Page 13

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Finance income and expense

Recognised in profit or loss


Year ended
31 December
Period ended
31 December
2024
2023
£
£
Finance income



Other interest receivable
-
381

Total finance income

-
381

Finance expense

Bank interest payable
1
-

Other loan interest payable
563,629
381,214

Total finance expense
563,630
381,214


Net finance expense recognised in profit or loss
(563,630)
(380,833)






Page 14

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Tax expense

7.1 Income tax recognised in profit or loss



Year ended
31 December
Period ended
31 December
2024
2023
£
£

Current tax


Deferred tax expense

Origination and reversal of timing differences
(51,496)
215,778

Total deferred tax
(51,496)
215,778


(51,496)
215,778


Total tax expense

Tax expense excluding tax on sale of discontinued operation and share of tax of equity accounted associates and joint ventures
(51,496)
215,778

(51,496)
215,778

The reasons for the difference between the actual tax charge for the year and the standard rate of corporation tax in the United Kingdom applied to profits for the year are as follows:


Year ended
31 December
Period ended
31 December
2024
2023
£
£


(Loss)/profit for the year
(154,455)
647,301

Income tax expense (including income tax on associate, joint venture and discontinued operations)
(51,496)
215,778

(Loss)/profit before income taxes
(205,951)
863,079


Tax using the Company's domestic tax rate of 25% (2023:25%)
(51,488)
215,770

Expenses not deductible for tax purposes, other than goodwill, amortisation and impairment
(8)
8

Total tax expense
(51,496)
215,778

7.2 Deferred tax balances

Page 15

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.Tax expense (continued)

The following is the analysis of deferred tax assets/(liabilities) presented in the statement of financial position:


Year ended
31 December
Period ended
31 December
2024
2023
£
£


Deferred tax liabilities
(164,282)
(215,778)

(164,282)
(215,778)




Opening balance
Recognised in profit or loss
Closing balance
        £
        £
        £
2024
Investment property

(306,250)

(38,750)

(345,000)

Tax losses carried forward

90,472

90,246

180,718



(215,778)


51,496


(164,282)



8.


Investment property

(i) Non-current assets at fair value


2024
2023
£
£


Opening balance
3,975,000
-

Purchases
-
2,750,000

Revaluation
155,000
1,225,000

4,130,000
3,975,000

On 31st January 2025, the property was revalued by an independent valuer, Grant Stanley. 

Page 16

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Trade and other receivables


2024
2023
£
£


Trade receivables
196
381

Trade receivables - net
196
381

Receivables from related parties
8,400
-

Total financial assets other than cash and cash equivalents classified as loans and receivables
8,596
381

Prepayments and accrued income
33,068
41,763

Total trade and other receivables
41,664
42,144


10.


Trade and other payables


2024
2023
£
£


Trade payables
118,757
83,916

Other payables
3,380,744
1,240,734

Accruals
6,550
57,562

Total financial liabilities, excluding loans and borrowings, classified as financial liabilities measured at amortised cost
3,506,051
1,382,212

Other payables - tax and social security payments
8,125
13,963

Deferred income
388
-

Total trade and other payables
3,514,564
1,396,175

Page 17

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Loans and borrowings

2024
2023
£
£


Current

Bank loans - secured
-
1,757,893

-
1,757,893

Total loans and borrowings
-
1,757,893

During the year, the loan from FCG Finance was repaid in full with the support of Hilla Office Towers Limited. A new loan which was secured against the property was drawn by Hilla Office Towers Ltd. 

12.


Share capital

Authorised

2024
2024
Number
£

Shares treated as equity
Ordinary shares of £1.00 each

1

1

1

1


Issued and fully paid


2024
2024
Number
£

Ordinary shares of £1.00 each

At 1 January and 31 December
1

1


Page 18

 
HILLA GROUP NORTHAMPTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Related party transactions

Details of transactions between the Company and its related parties are disclosed below.

13.1 Loans from related parties


2024
2023
£
£


Amounts due to group companies
3,264,363
1,240,734

3,264,363
1,240,734

Loans from related parties relate to the loan provided by Hilla Office Towers Ltd. The loan is interest bearing at a rate of approximately 12%. 


14.


Controlling party

The immediate controlling party is A.K. Hilla Menivim Ltd, a company incorporated in Israel.
The ultimate controlling company is Hilla Group Ltd, a company incorporated in Israel, and the registered office address is Tzur 8, Kochav Yair-Tzur Yigal, Israel. 

Page 19