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REGISTERED NUMBER: 11621922 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

JP Higham & Co Limited

JP Higham & Co Limited (Registered number: 11621922)






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


JP Higham & Co Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: J Higham





REGISTERED OFFICE: Sykes Barn
Higher Commons Lane
Osbaldeston
Blackburn
BB2 7LS





REGISTERED NUMBER: 11621922 (England and Wales)





ACCOUNTANTS: Pareto Tax & Wealth LLP
Level 7, Tower 12,
18-22 Bridge Street,
Spinningfields,
Manchester
M3 3BZ

JP Higham & Co Limited (Registered number: 11621922)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,670 6,708

CURRENT ASSETS
Debtors 5 25,993 33,151
Cash at bank and in hand 13,888 16,933
39,881 50,084
CREDITORS
Amounts falling due within one year 6 27,753 25,432
NET CURRENT ASSETS 12,128 24,652
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,798

31,360

CREDITORS
Amounts falling due after more than one
year

7

(22,500

)

(30,000

)

PROVISIONS FOR LIABILITIES (2,977 ) (1,275 )
NET ASSETS 2,321 85

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 2,317 81
SHAREHOLDERS' FUNDS 2,321 85

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.

JP Higham & Co Limited (Registered number: 11621922)

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 17 November 2023 and were signed by:





J Higham - Director


JP Higham & Co Limited (Registered number: 11621922)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

JP Higham & Co 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.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

JP Higham & Co Limited (Registered number: 11621922)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 18,258
Additions 15,076
At 31 March 2023 33,334
DEPRECIATION
At 1 April 2022 11,550
Charge for year 6,114
At 31 March 2023 17,664
NET BOOK VALUE
At 31 March 2023 15,670
At 31 March 2022 6,708

5. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 1,884 3,464
Directors' current accounts 3,573 9,151
5,457 12,615

Amounts falling due after more than one year:
Other debtors 20,536 20,536

Aggregate amounts 25,993 33,151

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 7,500 7,500
Trade creditors 2,311 1,612
Tax 8,082 8,633
Social security and other taxes - 49
VAT 5,089 6,238
Other creditors 2,071 -
Accrued expenses 2,700 1,400
27,753 25,432

JP Higham & Co Limited (Registered number: 11621922)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 2-5 years 22,500 30,000

8. RELATED PARTY DISCLOSURES

At 31 March 2023 the company was owed £3,573 (2022: £9,151) by J Higham, director.
The amount is interest free.

Included within other debtors an amount of £20,536 (2022: £20,536) was owed by Powelectrics Limited, a company in which J P Higham is a director and shareholder.
The amount is repayable after more than one year.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Higham.