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REGISTERED NUMBER: 00643669 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Highway Contractors Limited

Highway Contractors Limited (Registered number: 00643669)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Highway Contractors Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mr Edward John Gibbons
Mr David Paul Gibbons
Ms Sarah Elizabeth Smith
Mr Ian Jowett
Mr Dritan Skenderaj





REGISTERED OFFICE: 2 Charter Park
Ilkeston
Derbyshire
DE7 5GA





REGISTERED NUMBER: 00643669 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

Highway Contractors Limited (Registered number: 00643669)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 167 19,975
Investment property 5 710,000 660,000
710,167 679,975

CURRENT ASSETS
Debtors 6 24,308 203,000
Cash at bank 344,522 211,624
368,830 414,624
CREDITORS
Amounts falling due within one year 7 270,014 159,915
NET CURRENT ASSETS 98,816 254,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

808,983

934,684

CREDITORS
Amounts falling due after more than one
year

8

(35,157

)

(47,774

)

PROVISIONS FOR LIABILITIES (125,892 ) (85,051 )
NET ASSETS 647,934 801,859

CAPITAL AND RESERVES
Called up share capital 9 30,000 30,000
Fair value reserve 10 418,348 414,500
Retained earnings 199,586 357,359
SHAREHOLDERS' FUNDS 647,934 801,859

Highway Contractors Limited (Registered number: 00643669)

Balance Sheet - continued
31 December 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 7 September 2022 and were signed on its behalf by:




Mr Edward John Gibbons - Director Mr David Paul Gibbons - Director




Mr Ian Jowett - Director Mr Dritan Skenderaj - Director




Ms Sarah Elizabeth Smith - Director


Highway Contractors Limited (Registered number: 00643669)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Highway Contractors Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 3 ) .

Highway Contractors Limited (Registered number: 00643669)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2021 26,500 - 26,500
Additions - 251 251
Disposals (23,500 ) - (23,500 )
At 31 December 2021 3,000 251 3,251
DEPRECIATION
At 1 January 2021 6,525 - 6,525
Charge for year - 84 84
Eliminated on disposal (3,525 ) - (3,525 )
At 31 December 2021 3,000 84 3,084
NET BOOK VALUE
At 31 December 2021 - 167 167
At 31 December 2020 19,975 - 19,975

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021 660,000
Additions 46,152
Revaluations 3,848
At 31 December 2021 710,000
NET BOOK VALUE
At 31 December 2021 710,000
At 31 December 2020 660,000

Fair value at 31 December 2021 is represented by:
£   
Valuation in 2021 710,000

If investment property had not been revalued it would have been included at the following historical cost:

2021 2020
£    £   
Cost 220,992 160,449

Investment property was valued on an open market basis on 31 December 2021 by the directors .

Highway Contractors Limited (Registered number: 00643669)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 23,857 4,854
Other debtors 209 158,102
Directors' current accounts - 39,730
Prepayments and accrued income 242 314
24,308 203,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 9,010 5,665
Hire purchase contracts - 9,250
Trade creditors 691 4,314
Tax 40,069 17,004
Social security and other taxes 503 -
VAT 13,824 1,148
Other creditors 201,898 120,000
Directors' current accounts 69 20
Accruals and deferred income 3,950 2,514
270,014 159,915

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans - 1-2 years 9,235 7,293
Bank loans - 2-5 years 25,922 25,057
Bank loans more 5 yr by instal - 11,510
Hire purchase contracts - 3,914
35,157 47,774

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 11,510

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
10,000 Ordinary £1 10,000 10,000
20,000 Preference £1 20,000 20,000
30,000 30,000

Highway Contractors Limited (Registered number: 00643669)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

10. RESERVES
Fair
value
reserve
£   
At 1 January 2021 414,500
Fair value movement 3,848

At 31 December 2021 418,348

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
Ms Sarah Elizabeth Smith
Balance outstanding at start of year 39,730 -
Amounts advanced - 159,710
Amounts repaid (39,730 ) (119,980 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 39,730

Interest was charged on the directors loan accounts at a rate of 2.25% per annum to the 5th April 2021, and then 2% thereafter.