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REGISTERED NUMBER: 10111766 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

HIGHTIDE HOLDINGS LIMITED

HIGHTIDE HOLDINGS LIMITED (REGISTERED NUMBER: 10111766)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGHTIDE HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: P J Hill
T G Stubington



REGISTERED OFFICE: Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR



REGISTERED NUMBER: 10111766 (England and Wales)



ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR



BANKERS: HSBC
31 Chequer Street
St Albans
Hertfordshire
AL1 3YN

HIGHTIDE HOLDINGS LIMITED (REGISTERED NUMBER: 10111766)

BALANCE SHEET
30TH JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,665,776 1,502,854

CURRENT ASSETS
Debtors 5 18,812 12,313
Cash at bank 55,131 211,143
73,943 223,456
CREDITORS
Amounts falling due within one year 6 384,660 694,389
NET CURRENT LIABILITIES (310,717 ) (470,933 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,355,059 1,031,921

CREDITORS
Amounts falling due after more than one year 7 (765,648 ) (493,070 )

PROVISIONS FOR LIABILITIES (61,750 ) (61,750 )
NET ASSETS 527,661 477,101

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Revaluation reserve 10 325,000 325,000
Retained earnings 10 201,661 151,101
SHAREHOLDERS' FUNDS 527,661 477,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

HIGHTIDE HOLDINGS LIMITED (REGISTERED NUMBER: 10111766)

BALANCE SHEET - continued
30TH JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th October 2023 and were signed on its behalf by:





T G Stubington - Director


HIGHTIDE HOLDINGS LIMITED (REGISTERED NUMBER: 10111766)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023


1. STATUTORY INFORMATION

Hightide Holdings 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. 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.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The methods and significant assumptions used to ascertain the fair value of the investment property are as follows:

The fair value was ascertained by the directors based on the current sales value of similar industrial units in the area.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

HIGHTIDE HOLDINGS LIMITED (REGISTERED NUMBER: 10111766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2022 1,502,854
Additions 162,922
At 30th June 2023 1,665,776
NET BOOK VALUE
At 30th June 2023 1,665,776
At 30th June 2022 1,502,854

Fair value at 30th June 2023 is represented by:
£   
Valuation in 2018 141,000
Valuation in 2022 184,000
Cost 1,340,776
1,665,776

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 18,019 11,822
Other debtors 793 491
18,812 12,313

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 45,732 30,265
Trade creditors - 7
Taxation and social security 20,515 17,236
Other creditors 318,413 646,881
384,660 694,389

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 765,648 493,070

HIGHTIDE HOLDINGS LIMITED (REGISTERED NUMBER: 10111766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 811,540 507,288

HSBC Bank plc holds a fixed and floating charge over all assets except A1 Albion. Floating charge covers all property or undertakings of the company. Contains negative pledge.

Shawbrook Bank Limited holds a fixed and floating charge over A1 Albion.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
300 Ordinary A £1 300 300
130 Ordinary B £1 130 130
130 Ordinary C £1 130 130
100 Ordinary D £1 100 100
100 Ordinary E £1 100 100
80 Ordinary F £1 80 80
80 Ordinary G £1 80 80
80 Ordinary H £1 80 80
1,000 1,000

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st July 2022 151,101 325,000 476,101
Profit for the year 55,560 55,560
Dividends (5,000 ) (5,000 )
At 30th June 2023 201,661 325,000 526,661