Company Registration No. 10536161 (England and Wales)
Hillersdon Investments Ltd
Unaudited accounts
for the year ended 31 December 2019
Hillersdon Investments Ltd
Unaudited accounts
Contents
Hillersdon Investments Ltd
Company Information
for the year ended 31 December 2019
Company Number
10536161 (England and Wales)
Registered Office
Albany House
Claremont Lane
Esher
KT10 9FQ
United Kingdom
Accountants
Wellden Turnbull Limited
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Hillersdon Investments Ltd
Statement of financial position
as at 31 December 2019
Investments
501,866
123,235
Cash at bank and in hand
1,766,583
499,198
Creditors: amounts falling due within one year
(2,210,344)
(1,705,657)
Net current assets/(liabilities)
427,501
(18,362)
Net assets
929,367
104,873
Called up share capital
1,000
1,000
Profit and loss account
928,367
103,873
Shareholders' funds
929,367
104,873
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 November 2020 and were signed on its behalf by
Mr T Ward
Director
Company Registration No. 10536161
Hillersdon Investments Ltd
Notes to the Accounts
for the year ended 31 December 2019
Hillersdon Investments Ltd is a private company, limited by shares, registered in England and Wales, registration number 10536161. The registered office is Albany House, Claremont Lane, Esher, KT10 9FQ, United Kingdom.
2
Compliance with accounting standards
The financial statements have been prepared using FRS102, the financial reporting standard applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of Section 1A, applicable to small companies. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The accounts are presented in £ sterling.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Interest income is recognised in profit or loss using the effective interest method.
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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments in unlisted company shares are measured at cost less accumulated impairment.
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings for the period.
Hillersdon Investments Ltd
Notes to the Accounts
for the year ended 31 December 2019
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.
4
Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 January 2019
1
123,234
123,235
Additions
-
378,631
378,631
Valuation at 31 December 2019
1
501,865
501,866
Amounts due from group undertakings etc.
10,520
509
Other debtors
860,742
1,145,903
6
Creditors: amounts falling due within one year
2019
2018
Amounts owed to group undertakings and other participating interests
-
19
Taxes and social security
(6,692)
7,310
Other creditors
1,832,499
289,018
Loans from directors
381,477
1,407,780
Hillersdon Investments Ltd
Notes to the Accounts
for the year ended 31 December 2019
Allotted, called up and fully paid:
400 Ordinary A share of £1 each
400
400
400 Ordinary B share of £1 each
400
400
50 Ordinary C share of £1 each
50
50
50 Ordinary D share of £1 each
50
50
50 Ordinary E share of £1 each
50
50
50 Ordinary F share of £1 each
50
50
8
Transactions with related parties
During the year the Company loaned companies with common directorships £870,753 (2018 - £509). At the balance sheet date £871,262 (2018 - £509) was outstanding.
During the year the Company was loaned £761,469 (2018 - £289,018) by a company with common directorships. At the balance sheet date £1,050,487 (2018 - £289,018) was outstanding.
During the year the Company repaid £1,026,303 (2018 - £1,219,835) of loans to a director. At the balance sheet date £381,477 (2018 - £1,407,780) was outstanding.
All balances with related parties are unsecured, interest free and repayable on demand.
9
Post balance sheet events
Subsequent to the year end date global economies have been significantly impacted by the uncertainties arising from the COVID-19 virus epidemic. This is a non-adjusting event in the context of these financial statements.
10
Average number of employees
During the year the average number of employees was 0 (2018: 0).
