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Registered number: 06509299
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Hiltongate Developments Limited
Financial statements
Information for filing with the registrar
31 March 2025
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Hiltongate Developments Limited
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Balance sheet
At 31 March 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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1
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Hiltongate Developments Limited
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Balance sheet (continued)
At 31 March 2025
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Company registered number: 06509299
The notes on pages 3 to 7 form part of these financial statements.
2
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Hiltongate Developments Limited
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Notes to the financial statements
Year ended 31 March 2025
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is High Staindrop Field House, Evenwood Gate, Bishop Auckland, County Durham, DL14 9NU.
The financial statements of the company have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 102, ‘The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’ (‘FRS 102’) and the Companies Act 2006.
3.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 directors believe the company will be able to continue to trade within its working capital facilities
for the foreseeable future and with the continued support of the directors and shareholders, therefore
they choose to prepare the accounts on a going concern basis.
Turnover represents rental income due in the period.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
3
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Hiltongate Developments Limited
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Notes to the financial statements
Year ended 31 March 2025
3.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
No depreciation has been charged on investment properties.
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
The company has no employees other than the directors, who did not receive any remuneration.
4
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Hiltongate Developments Limited
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Notes to the financial statements
Year ended 31 March 2025
5
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Hiltongate Developments Limited
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Notes to the financial statements
Year ended 31 March 2025
Investment properties are held for use under operating leases. Investment properties are shown at their open market value based on the valuation of N Colegrove (director) at 31 March 2025.
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If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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Prepayments and accrued income
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Creditors: amounts falling due within one year
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Accruals and deferred income
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6
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Hiltongate Developments Limited
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Notes to the financial statements
Year ended 31 March 2025
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Related party transactions
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Included in other creditors is a balance owed to the directors at the year end of £848,710 (2024 : £766,046). During the year the company was charged £58,069 (2024: £22,395) for building works from Walker Colegrove, a business in which a director has an interest.
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7
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