Hollin Hill Properties Limited - Accounts to registrar (filleted) - small 18.2
Hollin Hill Properties Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| FOR |
| HOLLIN HILL PROPERTIES LIMITED |
| HOLLIN HILL PROPERTIES LIMITED (REGISTERED NUMBER: 03368513) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| HOLLIN HILL PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Beckett House |
| 36 Old Jewry |
| LONDON |
| EC2R 8DD |
| HOLLIN HILL PROPERTIES LIMITED (REGISTERED NUMBER: 03368513) |
| BALANCE SHEET |
| 31ST DECEMBER 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve | 11 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| HOLLIN HILL PROPERTIES LIMITED (REGISTERED NUMBER: 03368513) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| 1. | STATUTORY INFORMATION |
| Hollin Hill Properties Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The principal place of business is 53 Piccadilly,York,YO1 9NU. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts receivable for services and goods, excluding value added tax. |
| Tangible fixed assets |
| Long leasehold property includes a leasehold hotel which is carried at its revalued amount, being fair value at the date of valuation and impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. |
| Any revaluation increase in the carrying amount of long leasehold property is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended. |
| Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss. The use of a policy of revaluation provided more relevant and reliable information about the value of the property owned by the company. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| HOLLIN HILL PROPERTIES LIMITED (REGISTERED NUMBER: 03368513) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Going concern |
| The company is reliant on the continued support of its shareholders and directors to continue trading. On this basis the financial statements have been prepared on a going concern basis.The financial statements do not include any adjustments that may be required from a withdrawal of such financial support. |
| Government grants |
| During the year the company has utilised available coronavirus support from the government including claims under the job retention scheme for furloughed employees as well as obtaining a government backed loan. Government grants have been accounted for using the accruals model. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Long |
| leasehold |
| £ |
| COST OR VALUATION |
| At 1st January 2021 |
| Additions |
| Revaluations | ( |
) |
| At 31st December 2021 |
| NET BOOK VALUE |
| At 31st December 2021 |
| At 31st December 2020 |
| Cost or valuation at 31st December 2021 is represented by: |
| Long |
| leasehold |
| £ |
| Valuation in 2021 | 7,056,510 |
| Cost | 3,943,490 |
| 11,000,000 |
| HOLLIN HILL PROPERTIES LIMITED (REGISTERED NUMBER: 03368513) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| If Long leasehold property had not been revalued they would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 3,943,490 | 3,943,490 |
| Long leasehold property were valued on an open market basis on 31st December 2021 by Sunil Patel,director . |
| 5. | DEBTORS |
| 2021 | 2020 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors and prepayments |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Other loans | 102,022 | - |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Finance lease | 5,802 | 5,660 |
| Amounts owed to group undertakings |
| Social security and other taxes |
| VAT | 16,304 | 4,394 |
| Other creditors and accruals |
| Accruals and deferred income |
| HOLLIN HILL PROPERTIES LIMITED (REGISTERED NUMBER: 03368513) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Finance leases |
| Amounts owed to group undertakings |
| Other creditors |
| Other loans | - | 300,811 |
| Director's loan | - | 200,000 |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 4,384,191 | 4,268,795 |
| Finance leases | 7,270,616 | 7,276,418 |
| 11,654,807 | 11,545,213 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Metro Bank Plc holds a debenture from the company, supported by charges, debentures and guarantees from other companies within the Axcel Group. |
| 9. | PROVISIONS FOR LIABILITIES |
| 2021 | 2020 |
| £ | £ |
| Deferred tax | 932,854 | 938,895 |
| Deferred |
| tax |
| £ |
| Balance at 1st January 2021 |
| Provided during year | ( |
) |
| Balance at 31st December 2021 |
| HOLLIN HILL PROPERTIES LIMITED (REGISTERED NUMBER: 03368513) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary 'A' | £1 | 53,600 | 53,600 |
| Ordinary 'B' | £1 | 600,000 | 600,000 |
| 653,600 | 653,600 |
| 11. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1st January 2021 | 9,235,015 |
| Profit for the year |
| Revaluation | ( |
) | ( |
) |
| Deferred tax | - | 104,236 | 104,236 |
| At 31st December 2021 | 10,308,983 |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 13. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Included within other debtors an amount of £9,021 owed by Axcel Hospitality (Exmouth) Limited. Other loans of £102,022 are payable by Axcel Hospitality (Exmouth) Limited ,a company controlled by the directors. |