The simplistic story told in many old books is that some early Anglo-Saxon king formed all free men into groups of 10, called tithings (nothing to do with church tithes) and 10 tithings made a hundred.
This isn't a recorded event, just an attempt to explain the words. It seems to be just a speculation that became a fact by repetition. If it happened, it was way back in the continental past, not in England.
In England in the Middle Ages, a hundred was an administrative district of about 10-40 villages. Typically they had JPs, a bailiff and a chief constable. In pre-Norman times they handled tax collection and conscription, but later their powers were whittled down to things like liquor licenses.
In Virginia, Sir Thomas Dale moved on from small crowded fort-towns to fencing off larger areas within which there would be several separate settlements of different kinds, depending on each other for mutual security. They weren't properties, because the company wasn't selling land then. They were similar to some large manors in England, but Americans have always upgraded, so he called them hundreds, although they weren't much like English hundreds. The two that survived were Bermuda Hundred and West & Shirley Hundred. The famous Randolph plantation at Turkey Island was part of Bermuda hundred.
By 1618 the company was selling land, and Berkeley Hundred was just the name given to an 8,000-acre plot by the consortium who bought it, planning to rent it out in smaller pieces.