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Company registration number: 10540026
Hillvern Properties Limited
Unaudited filleted financial statements
31 March 2025
Hillvern Properties Limited
Contents
Statement of financial position
Notes to the financial statements
Hillvern Properties Limited
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Investments 5 657,163 657,163
_______ _______
657,163 657,163
Current assets
Cash at bank and in hand 106,687 77,850
_______ _______
106,687 77,850
Creditors: amounts falling due
within one year 6 ( 648,308) ( 620,521)
_______ _______
Net current liabilities ( 541,621) ( 542,671)
_______ _______
Total assets less current liabilities 115,542 114,492
_______ _______
Net assets 115,542 114,492
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 115,442 114,392
_______ _______
Shareholders funds 115,542 114,492
_______ _______
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have 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 Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 August 2025 , and are signed on behalf of the board by:
Mr Peter Vernon
Director
Company registration number: 10540026
Hillvern Properties Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is White House Farm, Village Road,, Northop Hall, Mold, CH7 6HT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for the services rendered, net of discounts and Value Added Tax.Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the entity; the stage of completion of the transaction at the end of the reporting period can be measured reliably and the costs incurred and costs to complete the transaction can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2024: 2 ).
5. Investments
Other investments other than loans Total
£ £
Cost
At 1 April 2024 and 31 March 2025 657,163 657,163
_______ _______
Impairment
At 1 April 2024 and 31 March 2025 - -
_______ _______
Carrying amount
At 31 March 2025 657,163 657,163
_______ _______
At 31 March 2024 657,163 657,163
_______ _______
6. Creditors: amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts 602,045 602,045
Corporation tax 263 6,476
Other creditors 46,000 12,000
_______ _______
648,308 620,521
_______ _______
The bank loan is secured by a floating charge.