Company Registration No. 07749180 (England and Wales)
HILLTOP FREEHOLD COMPANY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
ACCOUNTS FOR FILING WITH REGISTRAR
HILLTOP FREEHOLD COMPANY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HILLTOP FREEHOLD COMPANY LTD
BALANCE SHEET
AS AT
31 DECEMBER 2020
31 December 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
122,000
122,000
Current assets
Debtors
4
32,170
31,914
Creditors: amounts falling due within one year
5
(11,156)
(11,235)
Net current assets
21,014
20,679
Net assets
143,014
142,679
Capital and reserves
Called up share capital
6
122,000
122,000
Profit and loss reserves
21,014
20,679
Total equity
143,014
142,679
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 September 2021 and are signed on its behalf by:
M Adams
V Singh
Director
Director
J Young
Director
Company Registration No. 07749180
HILLTOP FREEHOLD COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
- 2 -
1
Accounting policies
Company information
Hilltop Freehold Company Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Egale 1, 80 St Albans Road, Watford, Herts, WD17 1DL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents ground rents receivable. Ground rents are recognised on an accruals basis for the period to which the rental income relates to the financial reporting year.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Nil
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans,
and
other
loans that are classified as debt, are
initially recognised at transaction price
. Financial liabilities classified as payable within one year are not amortised.
HILLTOP FREEHOLD COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 3 -
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
During the year the company has acted as agent for the lessees of the property at Hilltop Court 14-16 Alexandra Road South Hampstead London NW8 0DR. The funds in relation to the maintenance of the property are held in trust. As at 31 December 2020 the cash balance held on behalf of the lessees amounted to £9,225
The income or expenditure in relation to the maintenance of the common parts of the property held in accordance with the governing leases is shown in separate service charge accounts for the property. There therefore do not form part of the annual accounts of the company and not filed at Companies House. The accounts can be obtained from Hilltop Freehold Company Ltd.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
HILLTOP FREEHOLD COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 4 -
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2020 and 31 December 2020
122,000
Depreciation and impairment
At 1 January 2020 and 31 December 2020
Carrying amount
At 31 December 2020
122,000
At 31 December 2019
122,000
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
32,170
31,914
5
Creditors: amounts falling due within one year
2020
2019
£
£
Taxation and social security
78
Other creditors
11,156
11,157
11,156
11,235
6
Called up share capital
2020
2019
2020
2019
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
122,000
122,000
122,000
122,000