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REGISTERED NUMBER: 01274859 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

HIGHCROSS COMMERCIAL INVESTMENTS LIMITED

HIGHCROSS COMMERCIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 01274859)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGHCROSS COMMERCIAL INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: D R England
S J England
Mrs S Paice





REGISTERED OFFICE: High Cross Building
Lancaster Road
Hinckley
Leicestershire
LE10 0AW





REGISTERED NUMBER: 01274859 (England and Wales)





ACCOUNTANTS: PWH Accountancy Ltd
The Counting House
High Street
Lutterworth
Leicestershire
LE17 4AY

HIGHCROSS COMMERCIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 01274859)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 17,687 20,923
Investment property 6 5,540,464 5,817,055
5,558,151 5,837,978

CURRENT ASSETS
Debtors 7 1,281,545 1,332,952
Cash at bank 1,256,193 1,028,541
2,537,738 2,361,493
CREDITORS
Amounts falling due within one year 8 330,201 352,445
NET CURRENT ASSETS 2,207,537 2,009,048
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,765,688

7,847,026

CREDITORS
Amounts falling due after more than one
year

9

(1,573,946

)

(1,920,098

)

PROVISIONS FOR LIABILITIES 11 (1,993 ) (2,307 )
NET ASSETS 6,189,749 5,924,621

CAPITAL AND RESERVES
Called up share capital 12 16,667 16,667
Other reserves 13 783,305 709,896
Retained earnings 13 5,389,777 5,198,058
SHAREHOLDERS' FUNDS 6,189,749 5,924,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

HIGHCROSS COMMERCIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 01274859)

BALANCE SHEET - continued
31 JANUARY 2023


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 24 October 2023 and were signed on its behalf by:




Mrs S Paice - Director



S J England - Director


HIGHCROSS COMMERCIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 01274859)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Highcross Commercial Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover
Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant, fittings & vehicles - 15% on reducing balance

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.

HIGHCROSS COMMERCIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 01274859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets
Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities
The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

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.

Accounting for leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases
Assets financed by leasing agreements which give rights approximating to ownership (finance leases) have been capitalised at amounts equal to the original cost of the asset to the lessors and depreciation provided on the basis of group depreciation policy. The capital element of future obligations under finance leases is included as liabilities in the balance sheet and the current year's interest element is charged to the profit and loss account over the duration of the lease so as to provide equal rates of interest on the net obligations outstanding in each period. The annual payments under all other lease arrangements, known as operating leases, are charged to profit and loss account on an accruals basis.

Rental income
Rental Income is accounted for on a receivable basis therefore no adjustments are made for amounts received in advance.

HIGHCROSS COMMERCIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 01274859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant,
fittings
& vehicles
£   
COST
At 1 February 2022
and 31 January 2023 137,202
DEPRECIATION
At 1 February 2022 116,279
Charge for year 3,236
At 31 January 2023 119,515
NET BOOK VALUE
At 31 January 2023 17,687
At 31 January 2022 20,923

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 5,817,055
Additions 45,835
Disposals (395,835 )
Revaluations 73,409
At 31 January 2023 5,540,464
NET BOOK VALUE
At 31 January 2023 5,540,464
At 31 January 2022 5,817,055

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2023 5,540,464

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

2023 2022
£    £   
Cost 4,449,941 5,260,047

Investment property was valued on an open market basis on 31 January 2023 by the directors .


HIGHCROSS COMMERCIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 01274859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,296 27,161
Amounts owed by group undertakings 1,207,202 1,207,202
Other debtors 20,476 68,476
Prepayments 26,571 30,113
1,281,545 1,332,952

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank overdrafts 180,432 184,255
Trade creditors 98,101 109,771
Tax 20,094 29,541
VAT 13,277 15,109
Accrued expenses 18,297 13,769
330,201 352,445

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans more 5 yr by instal 1,573,946 1,920,098

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,573,946 1,920,098

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,754,378 2,104,353

The bank loan of £1,754,378 is secured on the company's freehold property.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,993 2,307

HIGHCROSS COMMERCIAL INVESTMENTS LIMITED (REGISTERED NUMBER: 01274859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 February 2022 2,307
Credit to Income Statement during year (314 )
Balance at 31 January 2023 1,993

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary $1 £0.66 67 6,667 6,667
10,000 Deferred £1 10,000 10,000
16,667 16,667

13. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 February 2022 5,198,058 709,896 5,907,954
Profit for the year 265,128 265,128
Deficit on revaluation - 73,409 73,409
Transfer on revaluation (73,409 ) - (73,409 )
At 31 January 2023 5,389,777 783,305 6,173,082

14. CONTINGENT LIABILITIES

The company has issued a VAT Duty Deferment Bond in favour of HM Customs & Excise for £10,000 (2022 £10,000).

15. RELATED PARTY DISCLOSURES

At 31 January 2023, and amount of £Nil (2022 £48,000) was due from A Adkins & Sons Limited, a company controlled by the director Mr D R England. .

16. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D R England.

The controlling party is Mr D R England by reason of his controlling interest in the shares of D R E Group Limited.

17. ULTIMATE HOLDING COMPANY AND RELATED PARTY DISCLOSURE

The company's ultimate holding company is D R E Group Limited which is registered in England. Advantage has been taken of the exemption from disclosure of group transactions on the grounds that details of the company as a subsidiary of D R E Group Limited are included in the consolidated accounts of D R E Group Limited.