Hills Estates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09425836 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2018

for

Hills Estates Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Siddiq Dadabhai

Zuber Patel

SECRETARY:

Siddiq Dadabhai

REGISTERED OFFICE:

Brook House

209-211 Cranbrook Road

Ilford

Essex

IG1 4TD

REGISTERED NUMBER:

09425836 (England and Wales)

ACCOUNTANTS:

Prestons

Chartered Accountants

364-368 Cranbrook Road

Gants Hill

Ilford

Essex

IG2 6HY

CURRENT ASSETS

Debtors

3

27,171

12,400

Cash at bank and in hand

33,381

22,299

60,552

34,699

CREDITORS

Amounts falling due within one year

4

56,704

33,689

NET CURRENT ASSETS

3,848

1,010

TOTAL ASSETS LESS CURRENT LIABILITIES

3,848

1,010

CAPITAL AND RESERVES

Called up share capital

5

2

2

Retained earnings

6

3,846

1,008

SHAREHOLDERS' FUNDS

3,848

1,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 29 October 2018 and were signed on its behalf by:

Siddiq Dadabhai - Director

1.	STATUTORY INFORMATION

Hills Estates 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents net income receivable from sale of goods and services in the year, excluding

value added tax.

Taxation

Taxation for the year 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 year 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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price,

unless the arrangement constitutes a financing transaction, where the transaction is measured at the

present value of the future receipts discounted at a market rate of interest. Such assets are

subsequently carried at amortised cost using the effective interest method, less any impairment

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from

related parties, are initially recognised at transaction price, unless the arrangement constitutes a

financing transaction, where the debt instrument is measured at the present value of the suture

payments discounted at a market rate of interest. Such instruments are subsequently carried at

amortised cost using the effective interest method, less and impairment.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Due from related companies

27,171

12,400

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Corporation Tax

945

252

Other creditors

34,845

20,185

Directors' current accounts

15,614

3,700

Accrued expenses

5,300

9,552

56,704

33,689

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.18

28.2.17

value:

£

£

2

Ordinary

1

2

2

6.

RESERVES

Retained

earnings

£

At 1 March 2017

1,008

Profit for the year

2,838

At 28 February 2018

3,846

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2018

and 28 February 2017:

28.2.18

28.2.17

£

£

Siddiq Dadabhai

Balance outstanding at start of year

(3,700

)

(800

)

Amounts advanced

5,000

(2,900

)

Amounts repaid

(16,914

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(15,614

)

(3,700

)