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REGISTERED NUMBER: 02103408 (England and Wales)












Unaudited Financial Statements

For The Year Ended

28 February 2023

for

High Garrett Properties Limited

High Garrett Properties Limited (Registered number: 02103408)






Contents of the Financial Statements
For The Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


High Garrett Properties Limited

Company Information
For The Year Ended 28 February 2023







DIRECTORS: D J Wicks
R W J Wicks





SECRETARY: D W G Whipps





REGISTERED OFFICE: 44 Church Street
Bocking
Braintree
Essex
CM7 5JY





REGISTERED NUMBER: 02103408 (England and Wales)





ACCOUNTANT: Alison Hurrell Limited
44 Church Street
Bocking
Braintree
Essex
CM7 5JY

High Garrett Properties Limited (Registered number: 02103408)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,889 51,988
Investment property 5 4,133,233 3,357,333
4,178,122 3,409,321

CURRENT ASSETS
Debtors 6 - 2
Cash at bank 14,496 106,673
14,496 106,675
CREDITORS
Amounts falling due within one year 7 29,871 24,573
NET CURRENT (LIABILITIES)/ASSETS (15,375 ) 82,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,162,747

3,491,423

CREDITORS
Amounts falling due after more than one
year

8

(714,769

)

(3,597

)

PROVISIONS FOR LIABILITIES (478,577 ) (479,926 )
NET ASSETS 2,969,401 3,007,900

CAPITAL AND RESERVES
Called up share capital 2,251 2,251
Share premium 911,748 911,748
Capital redemption reserve 500 500
Other reserves 2,003,889 2,003,889
Retained earnings 51,013 89,512
2,969,401 3,007,900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

High Garrett Properties Limited (Registered number: 02103408)

Balance Sheet - continued
28 February 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 21 September 2023 and were signed on its behalf by:





R W J Wicks - Director


High Garrett Properties Limited (Registered number: 02103408)

Notes to the Financial Statements
For The Year Ended 28 February 2023

1. STATUTORY INFORMATION

High Garrett Properties 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

High Garrett Properties Limited (Registered number: 02103408)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 204,189
Additions 19,182
Disposals (138,846 )
At 28 February 2023 84,525
DEPRECIATION
At 1 March 2022 152,201
Charge for year 11,564
Eliminated on disposal (124,129 )
At 28 February 2023 39,636
NET BOOK VALUE
At 28 February 2023 44,889
At 28 February 2022 51,988

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 31,081
DEPRECIATION
At 1 March 2022 6,475
Charge for year 6,152
At 28 February 2023 12,627
NET BOOK VALUE
At 28 February 2023 18,454
At 28 February 2022 24,606

High Garrett Properties Limited (Registered number: 02103408)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 3,357,333
Additions 775,900
At 28 February 2023 4,133,233
NET BOOK VALUE
At 28 February 2023 4,133,233
At 28 February 2022 3,357,333

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors - 2

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Hire purchase contracts 2,877 5,873
Taxation and social security 3,946 5,129
Other creditors 23,048 13,571
29,871 24,573

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 714,050 -
Hire purchase contracts 719 3,597
714,769 3,597

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 714,050 -