Registration number: 16224847

HILO Properties Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6
Accountants' Report	7

HILO Properties Ltd

Company Information

Directors

Mr Iain James Mitchison Mrs Hannah Sibel Mitchison

Registered office

18 Coalway Drive Whickham Newcastle Upon Tyne UK NE16 4BT

Accountants

EQ Accountants Ltd Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

HILO Properties Ltd

(Registration number: 16224847)
Balance Sheet as at 28 February 2026

	Note	2026 £
Fixed assets
Investment property	4	105,613
Current assets
Cash at bank and in hand		14,304
Creditors: Amounts falling due within one year	6	(46,609)
Net current liabilities		(32,305)
Total assets less current liabilities		73,308
Creditors: Amounts falling due after more than one year	6	(83,897)
Net liabilities		(10,589)
Capital and reserves
Called up share capital		2
Retained earnings		(10,591)
Shareholders' deficit		(10,589)

For the financial period ending 28 February 2026 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 accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 October 2026 and signed on its behalf by:
 

......................................... Mr Iain James Mitchison Director

HILO Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 3 February 2025 to 28 February 2026

1	General information

The company is a private company limited by share capital, incorporated in England..

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

It is the opinion of the director(s) that there is reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason the going concern basis has been adopted in preparing the financial statements for the period ended 28 February 2026.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

HILO Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 3 February 2025 to 28 February 2026

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
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.
 

3	Employees and Directors

The average number of persons employed by the company (including directors) during the period, was 2.

4	Investment properties

	2026 £
Additions	105,613
At 28 February	105,613

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current	2026 £
	-

HILO Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 3 February 2025 to 28 February 2026

6

Creditors

Creditors: amounts falling due within one year

	Note	2026 £
Due within one year
Loans and borrowings	7	2,201
Other creditors		44,408
		46,609

Creditors: amounts falling due after more than one year

	Note	2026 £
Due after one year
Loans and borrowings	7	83,897

7	Loans and borrowings

Non-current loans and borrowings

	2026 £
Bank borrowings	83,897

Current loans and borrowings

	2026 £
Bank borrowings	2,201

8	Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

	3 February 2025 to 28 February 2026  £
Mr Iain Mitchison	22,508
	22,508

HILO Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 3 February 2025 to 28 February 2026

The maximum balance outstanding during the year amounted to £22,508.

The directors current accounts are repayable on demand.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
HILO Properties Ltd
for the Period Ended 28 February 2026

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of HILO Properties Ltd for the period ended 28 February 2026 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of HILO Properties Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of HILO Properties Ltd and state those matters that we have agreed to state to the Board of Directors of HILO Properties Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HILO Properties Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that HILO Properties Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of HILO Properties Ltd. You consider that HILO Properties Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of HILO Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

22 October 2026