ACCOUNTS - Final Accounts preparation

2 HILLFIELD ROAD (UK) LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-09-302022-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2021-10-01truefalse40true 09794345 2021-10-01 2022-09-30 09794345 2020-10-01 2021-09-30 09794345 2022-09-30 09794345 2021-09-30 09794345 c:Director1 2021-10-01 2022-09-30 09794345 d:CurrentFinancialInstruments 2022-09-30 09794345 d:CurrentFinancialInstruments 2021-09-30 09794345 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 09794345 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 09794345 d:ShareCapital 2022-09-30 09794345 d:ShareCapital 2021-09-30 09794345 d:RetainedEarningsAccumulatedLosses 2022-09-30 09794345 d:RetainedEarningsAccumulatedLosses 2021-09-30 09794345 c:FRS102 2021-10-01 2022-09-30 09794345 c:AuditExempt-NoAccountantsReport 2021-10-01 2022-09-30 09794345 c:FullAccounts 2021-10-01 2022-09-30 09794345 c:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure

Registered number: 09794345

2 HILLFIELD ROAD (UK) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2022

2 HILLFIELD ROAD (UK) LIMITED

REGISTERED NUMBER: 09794345

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2022

		2022		2021
Note		£		£


Current assets
Stocks	4	1,649,649		1,444,399
Debtors: amounts falling due within one year	5	1,215,606		1,423,673
		2,865,255		2,868,072
Creditors: amounts falling due within one year	6	(3,051,060)		(2,997,846)
Net current liabilities			(185,805)		(129,774)

Net liabilities			(185,805)		(129,774)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(185,905)	(129,874)
	(185,805)	(129,774)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 September 2023.

A Sebba

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

2 HILLFIELD ROAD (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

1.	General information

2 Hillfield Road (UK) Limited is a private company limited by shares and incorporated in England and Wales. The address of its registered office is Lawford House, Albert Place, London, England, N3 1QA.

2.Accounting policies

2.1

Basis of preparation of financial statements

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The company meets its day to day working capital requirements through the utilisation of its own funds and funding from its ultimate shareholder.
Existing funding facilities, forecasts and projections indicate that the company has adequate resources to continue with some level of activity from a minimal to full levels.
The company shows net liabilities at the reporting date of £185,805. The company has received formal confirmation from its shareholder that the company will receive the financial support it requires to enable it to meet its liabilities as they fall due. Based on this assurance, the director considers it appropriate to prepare the financial statements on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2

2 HILLFIELD ROAD (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Property trading stock is comprised of property purchased for re-sale and associated development costs.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

Debtors

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.

2.7

Creditors

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.

2.8

Financial instruments

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 and loans to and from related parties.

Employees

The average monthly number of employees, including directors, during the year was 0 (2021 - 4).

4.	Stocks
		2022	2021
		£	£

Property trading stock	1,649,649	1,444,399
	1,649,649	1,444,399

Page 3

2 HILLFIELD ROAD (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Debtors

					2022	2021
					£	£


Amounts owed by group undertakings	1,215,606	1,423,673
	1,215,606	1,423,673

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	4,733	4,733
Other creditors	3,028,967	2,987,785
Accruals and deferred income	17,360	5,328
	3,051,060	2,997,846

7.	Prior year adjustment

Following a review of the comparative figures, the director has restated the property trading stock within stocks on the basis that the property was purchased for development and sale.
This presentational restatement has no impact on the overall results for the year ended 30 September 2021.

8.	Controlling party

The parent company of the Company is Hillfield Road Limited, a company incorporated in Jersey. The address of its registered office is Charter Place, 23-27 Seaton Place, St Helier, Jersey, JE1 1JY.
There are no consolidated financial statements prepared that include the results of the Company.

Page 4