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REGISTERED NUMBER: 12052283 (England and Wales)










C M HIGGINS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






C M HIGGINS LTD (REGISTERED NUMBER: 12052283)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C M HIGGINS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr C M Higgins





REGISTERED OFFICE: 1st Floor, Cash's Business Centre
228 Widdrington Road
Coventry
West Midlands
CV1 4PB





REGISTERED NUMBER: 12052283 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

C M HIGGINS LTD (REGISTERED NUMBER: 12052283)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,658 61,937
Investment property 5 815,454 537,000
864,112 598,937

CURRENT ASSETS
Debtors 6 75,702 66,820
Cash at bank 46,386 282,894
122,088 349,714
CREDITORS
Amounts falling due within one year 7 528,594 577,583
NET CURRENT LIABILITIES (406,506 ) (227,869 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

457,606

371,068

CREDITORS
Amounts falling due after more than one
year

8

20,900

27,467
NET ASSETS 436,706 343,601

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 436,606 343,501
SHAREHOLDERS' FUNDS 436,706 343,601

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

C M HIGGINS LTD (REGISTERED NUMBER: 12052283)

BALANCE SHEET - continued
31 MARCH 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 director and authorised for issue on 31 August 2023 and were signed by:





Mr C M Higgins - Director


C M HIGGINS LTD (REGISTERED NUMBER: 12052283)

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

1. STATUTORY INFORMATION

C M Higgins Ltd 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. 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 represents rental income receivable.

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 - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% 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.

C M HIGGINS LTD (REGISTERED NUMBER: 12052283)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 23,000 16,547 41,994 81,541
DEPRECIATION
At 1 April 2022 6,226 2,879 10,499 19,604
Charge for year 3,355 2,050 7,874 13,279
At 31 March 2023 9,581 4,929 18,373 32,883
NET BOOK VALUE
At 31 March 2023 13,419 11,618 23,621 48,658
At 31 March 2022 16,774 13,668 31,495 61,937

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 41,994
DEPRECIATION
At 1 April 2022 10,499
Charge for year 7,874
At 31 March 2023 18,373
NET BOOK VALUE
At 31 March 2023 23,621
At 31 March 2022 31,495

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 537,000
Additions 278,454
At 31 March 2023 815,454
NET BOOK VALUE
At 31 March 2023 815,454
At 31 March 2022 537,000

C M HIGGINS LTD (REGISTERED NUMBER: 12052283)

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

5. INVESTMENT PROPERTY - continued

In the opinion of the director, there is no change in the valuation of investment properties at the balance sheet date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 75,702 66,820

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 6,567 6,080
Taxation and social security 25,424 13,790
Other creditors 496,603 557,713
528,594 577,583

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 20,900 27,467

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is £493,124 (2022: £555,314) owed to the director. The amount is unsecured and interest free with no set terms for repayment.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2022 - £2,000) were paid to the director .

At the balance sheet date, the company accrued rental income of £61,620 (2022: £66,820) which is receivable from a care home company in which Mr C M Higgins is a director and has an interest.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C M Higgins.