Hillgrove Developments Limited - Period Ending 2015-11-30

Registration number: 05240041

Hillgrove Developments Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2015
 

Parker Business Development Limited
Chartered Accountants
Dominion Court
43 Station Road
Solihull
B91 3RT

Hillgrove Developments Limited
(Registration number: 05240041)
Abbreviated Balance Sheet at 30 November 2015

		Note			2015 £			2014 £
Fixed assets
Investments					275			225
Current assets
Stocks					311,493			750,731
Debtors		3			515,213			245,493
Cash at bank and in hand					521,701			497,564
					1,348,407			1,493,788
Creditors: Amounts falling due within one year					(135,688)			(148,793)
Net current assets					1,212,719			1,344,995
Total assets less current liabilities					1,212,994			1,345,220
Creditors: Amounts falling due after more than one year					-			(342,000)
Net assets					1,212,994			1,003,220
Capital and reserves
Called up share capital		5			1,100			1,100
Profit and loss account					1,211,894			1,002,120
Shareholders' funds					1,212,994			1,003,220

For the year ending 30 November 2015 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 12 August 2016 and signed on its behalf by:

.........................................
N P Mellor
Director

The notes on pages 2 to 5 form an integral part of these financial statements.
Page 1

Hillgrove Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Exemption from preparing a cash flow statement

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of property and rents receivable.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Hillgrove Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

2	Fixed assets

		Investments £			Total £
Cost
At 1 December 2014		1,006,762			1,006,762
Additions		50			50
Disposals		(35)			(35)
At 30 November 2015		1,006,777			1,006,777
Depreciation
At 1 December 2014		1,006,537			1,006,537
Eliminated on disposals		(35)			(35)
At 30 November 2015		1,006,502			1,006,502
Net book value
At 30 November 2015		275			275
At 30 November 2014		225			225

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

Principal activity

Subsidiary undertakings
Hillgrove Developments (North West) Limited	Ordinary £1 shares	100%	Property development
AWNM Developments Ltd	A Ordinary £1 shares	100%	Non-trading
Hillgrove Energy LLP	Equity partnership	99%	Trading of commodities and providing trade finance

Associates
Coplan Estates (Barking) Limited	Ordinary £1 shares	25%	Property development
Coplan Estates (Sidcup) Limited	Ordinary £1 shares	25%	Property development

Page 3

Hillgrove Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

The profit for the financial period of Hillgrove Developments (North West) Limited was £32,821 and the aggregate amount of capital and reserves at the end of the period was (£629,179).

The profit for the financial period of AWNM Developments Ltd was £nil and the aggregate amount of capital and reserves at the end of the period was £201.

The profit for the financial period of Hillgrove Energy LLP was £nil and the aggregate amount of capital and reserves at the end of the period was £45.

The financial period end of Coplan Estates (Barking) Limited is 30 June 2015. The profit for the financial period of Coplan Estates (Barking) Limited was £105,564 and the aggregate amount of capital and reserves at the end of the period was £1,027,359.

The financial period end of Coplan Estates (Sidcup) Limited is 30 June 2015. The loss for the financial period of Coplan Estates (Sidcup) Limited was £405 and the aggregate amount of capital and reserves at the end of the period was (£42,466).

3

Debtors

Debtors includes £449,950 (2014 - £nil) receivable after more than one year.

 

4

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		-			54,000
Amounts falling due after more than one year		-			342,000
Total secured creditors		-			396,000

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years by instalments		-			126,000

Page 4

Hillgrove Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

5	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		1,100			1,100			1,100			1,100

6	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
A E Williams
Advance on 30 April 2014	-	-	25,000	-
Advance on 1 May 2014	-	-	25,000	-
Advance on 5 June 2014	-	-	75,000	-
Advance on 6 June 2014	-	-	75,000	-
Repayment 27 January 2015	-	200,000	-	-
Interest chargeble for the period	3,118	8,236	10,390	5,272
	3,118	208,236	210,390	5,272

Page 5