Hillside Park Freehold (Sunningdale) Limited - Period Ending 2020-03-31
Hillside Park Freehold (Sunningdale) Limited - Period Ending 2020-03-31
Registration number:
Hillside Park Freehold (Sunningdale) Limited
for the Year Ended 31 March 2020
Hillside Park Freehold (Sunningdale) Limited
(Registration number: 06271036)
Statement of Financial Position as at 31 March 2020
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2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her 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 in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.
Approved and authorised by the
.........................................
Director
Hillside Park Freehold (Sunningdale) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises the ground rent receivable from the applicable residents for the year in question and is derived wholly within the UK.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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 |
Freehold property |
0% depreciation, reversionary interest in land only |
Long leasehold property |
straight line over the period of the lease |
Employee benefits
Short-term employee benefits are recognised as an expense in the period which they are incurred.
Staff numbers |
Due to the nature of the company’s activities there were no employees in the current or previous year.
Hillside Park Freehold (Sunningdale) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Tangible assets |
Land and buildings |
Long leasehold land and buildings |
Total |
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Cost or valuation |
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At 1 April 2019 |
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At 31 March 2020 |
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Depreciation |
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Carrying amount |
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At 31 March 2020 |
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At 31 March 2019 |
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The Company is the beneficial owner of the freehold land occupied by the buildings known as Richmond House, Fisher House and Beaufort House of Hillside Park, Sunningdale. Following the extension of the leases relating to 13 freehold purchasers, the value of the freehold has been impaired to reflect its current market value. The freehold cost carried forward therefore represents a nominal value of £1 per flat in respect of the company's reversionary interest in each flat let on 999 year leases. In addition, the company owns the reversion due in 63 years on one flat which is currently valued at £31,363 and due in 153 years on a further flat which is valued at £4,778
Debtors |
2020 |
2019 |
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Other debtors |
- |
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- |
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Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
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Accruals and deferred income |
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Other creditors |
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