Hill Farm Developments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06403198

Hill Farm Developments Limited

Filleted Unaudited Financial Statements

31 March 2025

Hill Farm Developments Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Hill Farm Developments Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		2,383,231		2,434,279

Current assets

Debtors	6	6,269	–
Cash at bank and in hand		4,186	3,801
		--------	-------
		10,455	3,801

Creditors: amounts falling due within one year	7	424,852		448,606
		---------		---------
Net current liabilities			414,397		444,805
			------------		------------
Total assets less current liabilities			1,968,834		1,989,474

Creditors: amounts falling due after more than one year	8		638,315		681,277

Provisions

Taxation including deferred tax	71,774	63,418
	------------	------------
Net assets	1,258,745	1,244,779
	------------	------------

Capital and reserves

Called up share capital	9	100	100
Profit and loss account		1,258,645	1,244,679
		------------	------------
Shareholders funds		1,258,745	1,244,779
		------------	------------

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 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 .

Hill Farm Developments Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 13 January 2026 , and are signed on behalf of the board by:

Mr H C Symington

Director

Company registration number: 06403198

Hill Farm Developments 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 146 New London Road, Chelmsford, Essex, CM2 0AW.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rents received and services rendered, stated net of discounts and of Value Added Tax.

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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Leasehold Property	-	2% straight line
Fixture and Furniture	-	25% straight line
Equipment	-	25% straight line

The residual value of the leasehold property is deemed equal to the net book value in the accounts and therefore the leasehold property is not depreciated.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Leasehold Property	Fixtures and Fittings	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024	2,533,370	35,696	5,017	2,574,083
Additions	–	–	658	658
	------------	--------	-------	------------
At 31 March 2025	2,533,370	35,696	5,675	2,574,741
	------------	--------	-------	------------
Depreciation
At 1 April 2024	100,679	34,977	4,148	139,804
Charge for the year	50,668	719	319	51,706
	------------	--------	-------	------------
At 31 March 2025	151,347	35,696	4,467	191,510
	------------	--------	-------	------------
Carrying amount
At 31 March 2025	2,382,023	–	1,208	2,383,231
	------------	--------	-------	------------
At 31 March 2024	2,432,691	719	869	2,434,279
	------------	--------	-------	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	5,025	–
Other debtors	1,244	–
	-------	----
	6,269	–
	-------	----

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	49,000	54,000
Trade creditors	10,298	14,354
Accruals and deferred income	35,144	42,615
Social security and other taxes	5,528	9,440
Director loan accounts	319,482	325,697
Amounts owed to related undertakings	5,400	2,500
	---------	---------
	424,852	448,606
	---------	---------

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

	2025	2024
	£	£
Bank loans and overdrafts	638,315	681,277
	---------	---------

Included within creditors: amounts falling due after more than one year is an amount of £482,506 (2024: £490,329) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

There is a fixed and floating charge over the company's assets dated 18/12/2019 in favour of HSBC. There is a negative pledge dated 19/02/2020 in favour of HSBC.

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary class A shares of £ 1 each	90	90	90	90
Ordinary Class B shares of £ 1 each	10	10	10	10
	----	----	----	----
	100	100	100	100
	----	----	----	----

10. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Related undertakings	–	–	( 4,816)	( 2,500)
Directors loan account	–	–	( 319,482)	( 325,697)
	----	----	---------	---------