Registered number
10930408
HIGHTEST TECHNOLOGY LIMITED
Filleted Accounts
30 June 2023
HIGHTEST TECHNOLOGY LIMITED
Registered number: 10930408
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 698 1,045
Current assets
Stocks 4,925 3,750
Debtors 4 88,587 33,931
Cash at bank and in hand 475,180 373,643
568,692 411,324
Creditors: amounts falling due within one year 5 (420,381) (289,556)
Net current assets 148,311 121,768
Total assets less current liabilities 149,009 122,813
Creditors: amounts falling due after more than one year 6 (50,630) (50,000)
Net assets 98,379 72,813
Capital and reserves
Called up share capital 100 100
Profit and loss account 98,279 72,713
Shareholder's funds 98,379 72,813
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
HILMI TEMIZ
Director
Approved by the board on 8 December 2023
HIGHTEST TECHNOLOGY LIMITED
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Equipment
£
Cost
At 1 July 2022 1,739
At 30 June 2023 1,739
Depreciation
At 1 July 2022 694
Charge for the year 347
At 30 June 2023 1,041
Net book value
At 30 June 2023 698
At 30 June 2022 1,045
4 Debtors 2023 2022
£ £
Trade debtors 45,322 2,061
Other debtors 43,265 31,870
88,587 33,931
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 332,607 239
Taxation and social security costs 6,078 20,290
Other creditors 81,696 269,027
420,381 289,556
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 50,630 50,000
7 Controlling party
Ultimate controlling party is Mr H Temiz as director and sole shareholder of the company throughout the current year and the previous year.
8 Other information
HIGHTEST TECHNOLOGY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
UNIT 4F GREAT WORKS
HARTHAM LANE
HERTFORD
SG14 1QN
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