Hindhill Limited Filleted accounts for Companies House (small and micro)

2 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 318,672 41,230 32,267 149,093 178,542 178,542 318,672 xbrli:pure xbrli:shares iso4217:GBP 01551252 2022-10-01 2023-09-30 01551252 2023-09-30 01551252 2022-09-30 01551252 2021-10-01 2022-09-30 01551252 2022-09-30 01551252 2021-09-30 01551252 bus:Director2 2022-10-01 2023-09-30 01551252 core:PlantMachinery 2022-09-30 01551252 core:FurnitureFittings 2022-09-30 01551252 core:MotorVehicles 2022-09-30 01551252 core:PlantMachinery 2023-09-30 01551252 core:FurnitureFittings 2023-09-30 01551252 core:MotorVehicles 2023-09-30 01551252 core:PlantMachinery 2022-10-01 2023-09-30 01551252 core:FurnitureFittings 2022-10-01 2023-09-30 01551252 core:MotorVehicles 2022-10-01 2023-09-30 01551252 core:WithinOneYear 2023-09-30 01551252 core:WithinOneYear 2022-09-30 01551252 core:AfterOneYear 2023-09-30 01551252 core:AfterOneYear 2022-09-30 01551252 core:ShareCapital 2023-09-30 01551252 core:ShareCapital 2022-09-30 01551252 core:RetainedEarningsAccumulatedLosses 2023-09-30 01551252 core:RetainedEarningsAccumulatedLosses 2022-09-30 01551252 core:BetweenOneFiveYears 2022-09-30 01551252 core:CostValuation core:Non-currentFinancialInstruments 2022-09-30 01551252 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-09-30 01551252 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-09-30 01551252 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-09-30 01551252 core:CostValuation core:Non-currentFinancialInstruments 2023-09-30 01551252 core:Non-currentFinancialInstruments 2023-09-30 01551252 core:Non-currentFinancialInstruments 2022-09-30 01551252 core:PlantMachinery 2022-09-30 01551252 core:FurnitureFittings 2022-09-30 01551252 core:MotorVehicles 2022-09-30 01551252 bus:SmallEntities 2022-10-01 2023-09-30 01551252 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 01551252 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 01551252 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 01551252 bus:FullAccounts 2022-10-01 2023-09-30 01551252 core:OfficeEquipment 2022-09-30 01551252 core:InvestmentPropertyIncludedWithinPPE 2022-09-30 01551252 core:OfficeEquipment 2022-10-01 2023-09-30 01551252 core:InvestmentPropertyIncludedWithinPPE 2022-10-01 2023-09-30 01551252 core:OfficeEquipment 2023-09-30 01551252 core:InvestmentPropertyIncludedWithinPPE 2023-09-30

COMPANY REGISTRATION NUMBER: 01551252

Hindhill Limited

Filleted Unaudited Financial Statements

30 September 2023

Hindhill Limited

Financial Statements

Year ended 30 September 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Hindhill Limited

Statement of Financial Position

30 September 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	5	2,322,647	2,466,117
Investments	6	178,542	318,672
		------------	------------
		2,501,189	2,784,789

Current assets

Debtors	7	242,683	259,140
Cash at bank and in hand		1,284,631	1,346,334
		------------	------------
		1,527,314	1,605,474

Creditors: amounts falling due within one year	8	2,339,917		2,505,986
		------------		------------
Net current liabilities			812,603	900,512
			------------	------------
Total assets less current liabilities			1,688,586	1,884,277

Creditors: amounts falling due after more than one year	9		–	2,600

Provisions

Taxation including deferred tax	21,791	24,185
	------------	------------
Net assets	1,666,795	1,857,492
	------------	------------

Capital and reserves

Called up share capital	2	2
Profit and loss account	1,666,793	1,857,490
	------------	------------
Shareholders funds	1,666,795	1,857,492
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Hindhill Limited

Statement of Financial Position (continued)

30 September 2023

These financial statements were approved by the board of directors and authorised for issue on 28 May 2024 , and are signed on behalf of the board by:

Mrs T Heyes
Director

Company registration number: 01551252

Hindhill Limited

Notes to the Financial Statements

Year ended 30 September 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Vicarage, 183 Westhall Road, Warlingham, Surrey, CR6 9HL, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have reviewed the anticipated level of future trading of the company for the period of 12 months from the date of signing the financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Revaluation of investment properties - See note 9.

Revenue recognition

Turnover represents rental income receivable during the period.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	10% per annum on cost
Investment properties furniture and fittings	-	10% per annum on cost
Motor vehicles	-	25% per annum on cost
Office furniture and equipment	-	20% per annum on cost

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Investment properties	Total
	£	£	£	£	£	£
Cost or valuation
At 1 Oct 2022	21,035	11,720	40,409	10,339	2,421,140	2,504,643
Additions	–	–	–	2,558	–	2,558
Disposals	–	–	–	–	( 133,908)	( 133,908)
	--------	--------	--------	--------	------------	------------
At 30 Sep 2023	21,035	11,720	40,409	12,897	2,287,232	2,373,293
	--------	--------	--------	--------	------------	------------
Depreciation
At 1 Oct 2022	18,825	11,719	2,854	5,128	–	38,526
Charge for the year	420	–	9,389	2,311	–	12,120
	--------	--------	--------	--------	------------	------------
At 30 Sep 2023	19,245	11,719	12,243	7,439	–	50,646
	--------	--------	--------	--------	------------	------------
Carrying amount
At 30 Sep 2023	1,790	1	28,166	5,458	2,287,232	2,322,647
	--------	--------	--------	--------	------------	------------
At 30 Sep 2022	2,210	1	37,555	5,211	2,421,140	2,466,117
	--------	--------	--------	--------	------------	------------

Investment properties have been valued by the directors at fair value taking into account the tenure of the property, tenancy details and ground and structural conditions.

6. Investments

	Listed investments
	£
Cost or valuation
At 1 October 2022	318,672
Additions	41,230
Disposals	( 32,267)
Revaluations	( 149,093)
	---------
At 30 September 2023	178,542
	---------
Impairment
At 1 October 2022 and 30 September 2023	–
	---------

Carrying amount
At 30 September 2023	178,542
	---------
At 30 September 2022	318,672
	---------

7. Debtors

	2023	2022
	£	£
Trade debtors	240	160
Other debtors	242,443	258,980
	---------	---------
	242,683	259,140
	---------	---------

The debtors above include the following amounts falling due after more than one year:

	2023	2022
	£	£
Other debtors	139,320	157,256
	---------	---------

Included in debtors is an amount of £84,104 (2022 - £84,104) due from a company in creditors voluntary administration. At the time of preparing these accounts, the amount of the final settlement is uncertain.

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	–	12,607
Other creditors	2,339,917	2,493,379
	------------	------------
	2,339,917	2,505,986
	------------	------------

Included in other creditors is £2,311,323 (2022 - £2,471,323) which is due to related parties.

9. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Other creditors	–	2,600
	----	-------

The bank loans are secured by charges over the company's investment properties.

10. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2023	2022
	£	£
Not later than 1 year	–	2,400
Later than 1 year and not later than 5 years	–	2,600
	----	-------
	–	5,000
	----	-------

11. Directors' advances, credits and guarantees

Included in other creditors at 30 September 2023 is £16,060(2022 - £10,740 which represents the balance outstanding in the directors' loan account.

12. Related party transactions

Creditors at the year end include £2,311,323 (2022 - £2,471,323) due to Solplace Ltd relating to rents collected on its behalf in prior years. The directors of Hindhill Ltd are also directors of Solplace Ltd and have a 100% interest in the ordinary share capital.