|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 March 2019 |
|
for |
|
HILLERSDON ESTATES & INVESTMENTS LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 March 2019 |
|
for |
|
HILLERSDON ESTATES & INVESTMENTS LIMITED |
HILLERSDON ESTATES & INVESTMENTS LIMITED (REGISTERED NUMBER: 00447577) |
|
|
|
|
|
|
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 4 |
|
HILLERSDON ESTATES & INVESTMENTS LIMITED |
|
Company Information |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Certified Accountants |
Global House |
303 Ballards Lane |
London |
N12 8NP |
HILLERSDON ESTATES & INVESTMENTS LIMITED (REGISTERED NUMBER: 00447577) |
|
Statement of Financial Position |
31 MARCH 2019 |
|
31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investments | 5 |
|
|
Investment property | 6 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 7 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 8 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Capital redemption reserve |
|
|
Fair value reserve |
|
|
Retained earnings |
|
|
|
|
|
|
|
|
|
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. |
HILLERSDON ESTATES & INVESTMENTS LIMITED (REGISTERED NUMBER: 00447577) |
|
Statement of Financial Position - continued |
31 MARCH 2019 |
|
|
|
|
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
by: |
|
|
|
|
|
|
|
HILLERSDON ESTATES & INVESTMENTS LIMITED (REGISTERED NUMBER: 00447577) |
|
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
1. | STATUTORY INFORMATION |
|
Hillersdon Estates & Investments Limited is a
|
Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Revenue is measured at the fair value of the consideration received or receivable and represents amounts |
receivable for services provided in the normal course of business. Revenue is generated from rental income |
generated by the company's investment property. The company recognises revenue based on it's lease |
agreement with tenants. |
|
Tangible fixed assets |
Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and |
accumulated impairment losses. |
|
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual |
value, over their expected useful lives on a reducing balance basis at a rate of 25% |
|
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine |
whether there is any indication that any items have suffered an impairment loss. If any such indication exists, |
the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the |
recoverable amount of the cash-generating unit to which the asset belongs. |
|
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
|
Investment property |
Investment property is shown at it's most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit and loss. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
HILLERSDON ESTATES & INVESTMENTS LIMITED (REGISTERED NUMBER: 00447577) |
|
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2018 |
|
Additions |
|
Disposals | ( |
) |
At 31 March 2019 |
|
DEPRECIATION |
At 1 April 2018 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
At 31 March 2019 |
|
NET BOOK VALUE |
At 31 March 2019 |
|
At 31 March 2018 |
|
|
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
|
NET BOOK VALUE |
At 31 March 2019 |
|
At 31 March 2018 |
|
|
The company owns all the issued shares of Boldside Limited and Hillersdon Estates and Investments (No 2) |
Limited which are used in a nominee capacity only. |
HILLERSDON ESTATES & INVESTMENTS LIMITED (REGISTERED NUMBER: 00447577) |
|
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2018 |
|
Additions |
|
At 31 March 2019 |
|
NET BOOK VALUE |
At 31 March 2019 |
|
At 31 March 2018 |
|
|
The fair value of the investment property has been arrived at on the basis of a valuation carried out at by the |
directors of the company. The valuation was made on an open market value basis by reference to market |
evidence of transaction prices for similar properties. The historical cost of the properties is £5,332,374. |
|
Included within investment property is 18 Brewer Street which is being held on a nominee basis for the |
company's wholly owned subsidiary Hillersdon (No.2) Limited. The balance sheet value of the property being |
held is £3,617,851 (2017 - £3,600,000). |
|
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Bank loans |
|
|
HILLERSDON ESTATES & INVESTMENTS LIMITED (REGISTERED NUMBER: 00447577) |
|
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
10. | RELATED PARTY DISCLOSURES |
|
Commission of £78,034 (2018: £74,607 was payable to Sidney Green & Co, three directors being partners in |
this practice. The amount of £21,307 (2018: -£17,819) was owed by Sidney Green & Co at 31 March 2019. |
|
At 31 March 2019 Maybreeze Ltd owed £415,703 (2018: £416,103) against which the company has provided |
£239k (2018: 239k) as a possible bad debt. At 31 March 2019 Cairnvale Properties Ltd owed £444,184 (2018:£ |
711,874) against which the company has provided £139k (2018:£139k) as a possible bad debt. At 31 March |
2019 Lina Stores Ltd owed £1,150,049 (2018: £1,038,045) and continues to rent one of the company's |
properties for £27,500 (2018: £27,500) per quarter. At 31 March 2019 Emercy Ltd owed £120,521 |
(2018:£47,935). |
|
The company makes no provision for interest of 6% payable on the Lina Stores Ltd debt as there is little |
likelihood of any being paid in the near future. |
|
No interest is currently charged on any of the above loans. |
|
The Green directors control all aforementioned companies. |