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REGISTERED NUMBER: 06077443 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Hightower I.T. Limited

Hightower I.T. Limited (Registered number: 06077443)






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


Hightower I.T. Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: M Mikkelson
J Mikkelson





REGISTERED OFFICE: 7th Floor-East (Programme)
All Sainsts Street
Bristol
BS1 2LZ





REGISTERED NUMBER: 06077443 (England and Wales)





ACCOUNTANTS: Obsidian Accountancy Limited
Suite 9 Corum Two
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Hightower I.T. Limited (Registered number: 06077443)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,190 12,256

CURRENT ASSETS
Debtors 5 268,245 112,446
Cash at bank 216,932 294,389
485,177 406,835
CREDITORS
Amounts falling due within one year 6 197,846 170,981
NET CURRENT ASSETS 287,331 235,854
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,521

248,110

CREDITORS
Amounts falling due after more than
one year

7

24,013

34,269
NET ASSETS 294,508 213,841

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 294,506 213,839
SHAREHOLDERS' FUNDS 294,508 213,841

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.

Hightower I.T. Limited (Registered number: 06077443)

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 29 November 2023 and were signed on its behalf by:




J Mikkelson - Director



M Mikkelson - Director


Hightower I.T. Limited (Registered number: 06077443)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Hightower I.T. 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.
Fixtures and fittings - 25% on cost
Computer equipment - 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.

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.

Hightower I.T. Limited (Registered number: 06077443)

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

2. ACCOUNTING POLICIES - continued

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 20 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 25,543
Additions 32,049
Disposals (11,489 )
At 28 February 2023 46,103
DEPRECIATION
At 1 March 2022 13,287
Charge for year 11,789
Eliminated on disposal (10,163 )
At 28 February 2023 14,913
NET BOOK VALUE
At 28 February 2023 31,190
At 28 February 2022 12,256

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 64,791 -
Other debtors 203,454 112,446
268,245 112,446

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 8,487 8,487
Trade creditors 3,615 6,347
Taxation and social security 185,744 156,147
197,846 170,981

Hightower I.T. Limited (Registered number: 06077443)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans 24,013 34,269

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
2 Ordinary £1 2 2

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 28 February 2023 and the period ended 28 February 2022:

28.2.23 28.2.22
£    £   
J Mikkelson
Balance outstanding at start of year 59,447 3,735
Amounts advanced 111,948 59,712
Amounts repaid (60,000 ) (4,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 111,395 59,447

M Mikkelson
Balance outstanding at start of year 44,597 -
Amounts advanced 90,261 44,597
Amounts repaid (50,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 84,858 44,597

Interest of £ 2,973 (2022 £1,193) was charged on the loans during the period.