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REGISTERED NUMBER: SC394091 (Scotland)












Financial Statements for the Year Ended 31 January 2024

for

HIGHFIELD GLOBAL RESOURCES LTD

HIGHFIELD GLOBAL RESOURCES LTD (REGISTERED NUMBER: SC394091)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGHFIELD GLOBAL RESOURCES LTD

Company Information
for the Year Ended 31 January 2024







DIRECTORS: K Murphy
M Murphy





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC394091 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

HIGHFIELD GLOBAL RESOURCES LTD (REGISTERED NUMBER: SC394091)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,436 19,095

CURRENT ASSETS
Debtors 5 10,108 13,680
Cash at bank 189,279 164,936
199,387 178,616
CREDITORS
Amounts falling due within one year 6 36,427 32,992
NET CURRENT ASSETS 162,960 145,624
TOTAL ASSETS LESS CURRENT
LIABILITIES

176,396

164,719

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 176,296 164,619
SHAREHOLDERS' FUNDS 176,396 164,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

HIGHFIELD GLOBAL RESOURCES LTD (REGISTERED NUMBER: SC394091)

Balance Sheet - continued
31 January 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2024 and were signed on its behalf by:





K Murphy - Director


HIGHFIELD GLOBAL RESOURCES LTD (REGISTERED NUMBER: SC394091)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Highfield Global Resources Ltd is a private company, limited by shares , registered in Scotland. 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 reducing balance and 20% on cost
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 material 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 (2023 - 2 ) .

HIGHFIELD GLOBAL RESOURCES LTD (REGISTERED NUMBER: SC394091)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 31,768 2,288 34,056
Additions - 340 340
At 31 January 2024 31,768 2,628 34,396
DEPRECIATION
At 1 February 2023 13,536 1,425 14,961
Charge for year 5,741 258 5,999
At 31 January 2024 19,277 1,683 20,960
NET BOOK VALUE
At 31 January 2024 12,491 945 13,436
At 31 January 2023 18,232 863 19,095

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,108 13,680

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 33,277 29,300
Other creditors 3,150 3,692
36,427 32,992

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £74,000 (2023 - £70,000) were paid to the directors .

The company was under the control of the directors, K Murphy and M Murphy, throughout the current and previous year.

During the year the company repaid the directors net amounts totalling £697. As at 31 January 2024 included within other creditors is a balance outstanding to the directors of £1,810 (2023 - £2,507) No interest has been paid on this loan.