Hillside Property Group Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10114699

Hillside Property Group Limited

Filleted Unaudited Financial Statements

31 March 2024

Hillside Property Group Limited

Financial Statements

Year ended 31 March 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Hillside Property Group Limited

Statement of Financial Position

31 March 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	375	824
Investments	6	8,166	–
		-------	----
		8,541	824

Current assets

Stocks	1,003,613	1,003,613
Cash at bank and in hand	1,786	52,289
	------------	------------
	1,005,399	1,055,902

Creditors: amounts falling due within one year	7	741,129	599,733
		------------	------------
Net current assets		264,270	456,169
		---------	---------
Total assets less current liabilities		272,811	456,993

Creditors: amounts falling due after more than one year	8	775,612	999,357
		---------	---------
Net liabilities		( 502,801)	( 542,364)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 502,901)	( 542,464)
	---------	---------
Shareholders deficit	( 502,801)	( 542,364)
	---------	---------

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.

For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Hillside Property Group Limited

Statement of Financial Position (continued)

31 March 2024

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

J P Murphy
Director

Company registration number: 10114699

Hillside Property Group Limited

Notes to the Financial Statements

Year ended 31 March 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Going concern

These accounts have been prepared on a going concern basis as the director believes that the company is able to meet its debts as they fall due for at least the next 12 months.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Fixtures and fittings	-	25% straight line

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.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

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 entity after deducting all of its financial liabilities. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

At the year end the average number of persons employed by the company, including the Director, amounted to 1 (2023:1).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2023	2,300	15,519	17,819
Disposals	–	( 15,519)	( 15,519)
	-------	--------	--------
At 31 March 2024	2,300	–	2,300
	-------	--------	--------
Depreciation
At 1 April 2023	1,475	15,520	16,995
Charge for the year	450	–	450
Disposals	–	( 15,520)	( 15,520)
	-------	--------	--------
At 31 March 2024	1,925	–	1,925
	-------	--------	--------
Carrying amount
At 31 March 2024	375	–	375
	-------	--------	--------
At 31 March 2023	825	( 1)	824
	-------	--------	--------

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2023	–
Additions	8,166
	-------
At 31 March 2024	8,166
	-------
Impairment
At 1 April 2023 and 31 March 2024	–
	-------

Carrying amount
At 31 March 2024	8,166
	-------
At 31 March 2023	–
	-------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Corporation tax	–	21,036
Other creditors	741,129	578,697
	---------	---------
	741,129	599,733
	---------	---------

Bank loans are secured on properties held in stock at the year end.

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	775,612	999,357
	---------	---------

9. Related party transactions

At the year end the company owed the director £486,593 (2023: £497,154). At the year end the company owed £251,036 (2024: £78,043).