Hill Squared Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 13420794 (England and Wales)

Unaudited Financial Statements

for the Period 26 May 2021 to 31 May 2022

for

Hill Squared Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L M Hill

REGISTERED OFFICE:

20-22 Wenlock Road

London

N1 7GU

REGISTERED NUMBER:

13420794 (England and Wales)

ACCOUNTANTS:

Verinder Powell Associates Ltd

Suite 5 Corum 2

Corum Office Park

Crown Way

Warmley

Bristol

BS30 8FJ

FIXED ASSETS

Tangible assets

4

9,233

Investment property

5

438,000

447,233

CURRENT ASSETS

Debtors

6

5,696

Cash at bank

2,127

7,823

CREDITORS

Amounts falling due within one year

7

161,010

NET CURRENT LIABILITIES

(153,187

)

TOTAL ASSETS LESS CURRENT LIABILITIES

294,046

CREDITORS

Amounts falling due after more than one year

8

271,208

NET ASSETS

22,838

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

22,738

22,838

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 December 2022 and were signed by:

L M Hill - Director

1.	STATUTORY INFORMATION

Hill Squared Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the period 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.

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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

Additions

11,424

At 31 May 2022

11,424

DEPRECIATION

Charge for period

2,191

At 31 May 2022

2,191

NET BOOK VALUE

At 31 May 2022

9,233

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

390,980

Revaluations

47,020

At 31 May 2022

438,000

NET BOOK VALUE

At 31 May 2022

438,000

The fair value of the investment property has been arrived at by a valuation by the director at the open market value at 31 May 2022 based on similar properties.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

5,696

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

9,056

Other creditors

151,954

161,010

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

271,208

9.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

280,264

At 31 May 2022, the company had secured borrowings of £280,264 secured by:

- a legal charge which covers all freehold property known as 5 Southampton Road, Lymington, SO41 9GH.

10.	RELATED PARTY DISCLOSURES

Key management

The loans from key management are interest free and repayable on demand.

£

Amount due to related party at the balance sheet date

148,136