Hillside Park Freehold (Sunningdale) Limited - Period Ending 2018-03-31

Registration number: 06271036

Hillside Park Freehold (Sunningdale) Limited

Annual Report and Unaudited Financial Statements - Companies House Filing

for the Year Ended 31 March 2018

Hillside Park Freehold (Sunningdale) Limited

(Registration number: 06271036)
Statement of Financial Position as at 31 March 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	3	36,154	36,154
Current assets
Debtors	4	259	170
Cash at bank and in hand		6,268	6,922
		6,527	7,092
Creditors: Amounts falling due within one year	5	(31,351)	(31,345)
Net current liabilities		(24,824)	(24,253)
Net assets		11,330	11,901
Capital and reserves
Called up share capital		13	13
Profit and loss account		11,317	11,888
Total equity		11,330	11,901

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 21 June 2018
 

.........................................

Mrs C Bond

Director

The notes on pages 2 to 3 form an integral part of these financial statements.

Page 1

Hillside Park Freehold (Sunningdale) Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
17 Dukes Ride
Crowthorne
Berkshire
RG45 6LZ
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Revenue recognition

Turnover comprises the ground rent receivable from the applicable residents for the year in question and is derived wholly within the UK.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	0% depreciation, reversionary interest in land only
Long leasehold property	straight line over the period of the lease

Page 2

Hillside Park Freehold (Sunningdale) Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

3	Tangible assets

	Land and buildings £	Long leasehold land and buildings £	Total £
Cost or valuation
At 1 April 2017	13	36,141	36,154
At 31 March 2018	13	36,141	36,154
Depreciation
Carrying amount
At 31 March 2018	13	36,141	36,154
At 31 March 2017	13	36,141	36,154

The Company is the beneficial owner of the freehold land occupied by the buildings known as Richmond House, Fisher House and Beaufort House of Hillside Park, Sunningdale. Following the extension of the leases relating to 13 freehold purchasers, the value of the freehold has been impaired to reflect its current market value. The freehold cost carried forward therefore represents a nominal value of £1 per flat in respect of the company's reversionary interest in each flat let on 999 year leases. In addition, the company owns the reversion due in 64 years on one flat which is currently valued at £31,363 and due in 154 years on a further flat which is valued at £4,778

4

Debtors

	2018 £	2017 £
Other debtors	259	170
	259	170

5

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Accruals and deferred income	558	552
Other creditors	30,793	30,793
	31,351	31,345

Page 3