HILLSPIRE PROPERTY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2025
Company registration number SC811353 (Scotland)
PAGES FOR FILING WITH REGISTRAR
HILLSPIRE PROPERTY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HILLSPIRE PROPERTY LTD
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
Notes
£
£
Fixed assets
Tangible assets
4
7,170
Investment property
5
229,087
236,257
Current assets
Debtors
6
300
Cash at bank and in hand
525
825
Creditors: amounts falling due within one year
7
(290,321)
Net current liabilities
(289,496)
Net liabilities
(53,239)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(53,339)
Total equity
(53,239)

For the financial period ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 17 February 2026 and are signed on its behalf by:
Dr A Hill
Director
Company registration number SC811353 (Scotland)
HILLSPIRE PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2025
- 2 -
1
Accounting policies
Company information

Hillspire Property Ltd is a private company limited by shares incorporated in Scotland. The registered office is 168 Bath Street, Glasgow, G2 4TP.

1.1
Reporting period

The company was incorporated on 22 Ma y 202 5 and therefore these accounts represent the period from date of incorporation to 31 May 2025.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

HILLSPIRE PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 3 -
1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

HILLSPIRE PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2025
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
Number
Total
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 22 May 2024
-
0
Additions
7,625
At 31 May 2025
7,625
Depreciation and impairment
At 22 May 2024
-
0
Depreciation charged in the period
455
At 31 May 2025
455
Carrying amount
At 31 May 2025
7,170
5
Investment property
2025
£
Fair value
At 22 May 2024
-
0
Additions
229,087
At 31 May 2025
229,087
HILLSPIRE PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2025
5
Investment property
(Continued)
- 5 -

The company's investment property consists of a single residential property. This ha s been valued at cost, which the directors consider to be an accurate representation of fair value, taking into account recent market activity of similar properties.

6
Debtors
2025
Amounts falling due within one year:
£
Other debtors
300
7
Creditors: amounts falling due within one year
2025
£
Bank loans
113,480
Other creditors
176,841
290,321

The bank loan is secured by personal guarantees from the directors and charges over the company’s property and assets.

Included within other c reditors is £172,736 due to the company's directors. This loan bears no interest and is repayable on demand.

2025-05-31 2024-05-22 false false false 17 February 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Dr A Hill Mrs Eilidh HIll SC811353 2024-05-22 2025-05-31 SC811353 2025-05-31 SC811353 core:OtherPropertyPlantEquipment 2025-05-31 SC811353 core:WithinOneYear 2025-05-31 SC811353 core:CurrentFinancialInstruments 2025-05-31 SC811353 core:ShareCapital 2025-05-31 SC811353 core:RetainedEarningsAccumulatedLosses 2025-05-31 SC811353 bus:Director1 2024-05-22 2025-05-31 SC811353 core:FurnitureFittings 2024-05-22 2025-05-31 SC811353 core:OtherPropertyPlantEquipment 2024-05-21 SC811353 core:OtherPropertyPlantEquipment 2024-05-22 2025-05-31 SC811353 2024-05-21 SC811353 core:CurrentFinancialInstruments core:WithinOneYear 2025-05-31 SC811353 bus:PrivateLimitedCompanyLtd 2024-05-22 2025-05-31 SC811353 bus:SmallCompaniesRegimeForAccounts 2024-05-22 2025-05-31 SC811353 bus:FRS102 2024-05-22 2025-05-31 SC811353 bus:AuditExemptWithAccountantsReport 2024-05-22 2025-05-31 SC811353 bus:Director2 2024-05-22 2025-05-31 SC811353 bus:FullAccounts 2024-05-22 2025-05-31 xbrli:pure xbrli:shares iso4217:GBP