REGISTERED NUMBER: 04397214 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

HILLBASE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

Mrs K Van Lieshout

Mr E W Timmerman

Registered office:

3rd Floor

86-90 Paul Street

London

EC2A 4NE

Registered number:

04397214 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Investment property

4

1,538,186

1,419,724

Current assets

Debtors

5

463

174

Cash at bank

31

547

494

721

Creditors

Amounts falling due within one year

6

1,282,394

1,038,474

Net current liabilities

(1,281,900

)

(1,037,753

)

Total assets less current liabilities

256,286

381,971

Capital and reserves

Called up share capital

7

326,900

326,900

Retained earnings

(70,614

)

55,071

Shareholders' funds

256,286

381,971

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

Mr E W Timmerman - Director

1.	Statutory information

Hillbase Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis despite continued losses due to the strong asset base and continued financial support of the directors.

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Turnover

Income from rent receivable is recognised in the same period within which the rental property is provided.

3.	Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4.	Investment property

Total

£

Fair value

At 1 January 2024

1,419,724

Additions

190,489

Revaluations

(72,027

)

At 31 December 2024

1,538,186

Net book value

At 31 December 2024

1,538,186

At 31 December 2023

1,419,724

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

(72,027

)

Cost

1,610,213

1,538,186

5.

Debtors: amounts falling due within one year

2024

2023

£

£

Other debtors

463

174

6.

Creditors: amounts falling due within one year

2024

2023

£

£

Other creditors

1,282,394

1,038,474

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

326,900

Ordinary

£1

326,900

326,900

8.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the year ended 31 December 2024 and the period ended 31 December 2023:

2024

2023

£

£

Mr E W Timmerman

Balance outstanding at start of year

(206,717

)

(190,804

)

Amounts advanced

41,904

299,050

Amounts repaid

(31,975

)

(314,963

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(196,788

)

(206,717

)

Advances provided to the company by the directors are interest free and repayable upon demand.