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REGISTERED NUMBER: 09823724 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2022

for

Hi-Line Ceilings Limited

Hi-Line Ceilings Limited (Registered number: 09823724)






Contents of the Financial Statements
for the Year Ended 30 November 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hi-Line Ceilings Limited

Company Information
for the Year Ended 30 November 2022







DIRECTOR: Mr D K King





REGISTERED OFFICE: 73 Lansdowne Road
Middlesbrough
Cleveland
TS4 2LS





REGISTERED NUMBER: 09823724 (England and Wales)





ACCOUNTANTS: APC Accountancy
Chartered Accountants
Queens Court Business Centre
Newport Road
Middlesbrough
TS1 5EH

Hi-Line Ceilings Limited (Registered number: 09823724)

Balance Sheet
30 November 2022

30.11.22 30.11.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,300 4,400
Tangible assets 5 1,385 2,169
4,685 6,569

CURRENT ASSETS
Stocks 250 250
Debtors 6 15,414 14,034
Cash at bank 6,707 1,247
22,371 15,531
CREDITORS
Amounts falling due within one year 7 26,495 16,959
NET CURRENT LIABILITIES (4,124 ) (1,428 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

561

5,141

PROVISIONS FOR LIABILITIES 8 277 434
NET ASSETS 284 4,707

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 283 4,706
SHAREHOLDERS' FUNDS 284 4,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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.

Hi-Line Ceilings Limited (Registered number: 09823724)

Balance Sheet - continued
30 November 2022


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 10 November 2023 and were signed by:





Mr D K King - Director


Hi-Line Ceilings Limited (Registered number: 09823724)

Notes to the Financial Statements
for the Year Ended 30 November 2022

1. STATUTORY INFORMATION

Hi-Line Ceilings 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.

There have been no changes to the comparatives due to the adoption of FRS 102.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual
provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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.


Hi-Line Ceilings Limited (Registered number: 09823724)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

2. ACCOUNTING POLICIES - continued
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 1 (2021 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2021
and 30 November 2022 11,000
AMORTISATION
At 1 December 2021 6,600
Charge for year 1,100
At 30 November 2022 7,700
NET BOOK VALUE
At 30 November 2022 3,300
At 30 November 2021 4,400

Hi-Line Ceilings Limited (Registered number: 09823724)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2021
and 30 November 2022 3,922
DEPRECIATION
At 1 December 2021 1,753
Charge for year 784
At 30 November 2022 2,537
NET BOOK VALUE
At 30 November 2022 1,385
At 30 November 2021 2,169

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£    £   
Trade debtors 880 6,226
Other debtors 14,534 7,808
15,414 14,034

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£    £   
Bank loans and overdrafts - 50
Taxation and social security 23,245 13,280
Other creditors 3,250 3,629
26,495 16,959

8. PROVISIONS FOR LIABILITIES
30.11.22 30.11.21
£    £   
Deferred tax 277 434

Deferred
tax
£   
Balance at 1 December 2021 434
Unused amounts reversed during year (157 )
Balance at 30 November 2022 277

9. RELATED PARTY DISCLOSURES

As at 30 November 2022 Mr D K King owed the company £3,337, this was repaid 31 August 2023 (2021: £428)

Hi-Line Ceilings Limited (Registered number: 09823724)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D K King.