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Registration number: 13296751

Higher End North Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Higher End North Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 7

 

Higher End North Limited

Company Information

Directors

Mr Thomas William White

Mr Matthew James Taylor

Registered office

17 Lea Green Business Park
Eurolink
St. Helens
WA9 4TR

Accountants

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Higher End North Limited
for the Year Ended 30 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Higher End North Limited for the year ended 30 April 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Higher End North Limited, as a body, in accordance with the terms of our engagement letter dated 1 November 2022. Our work has been undertaken solely to prepare for your approval the accounts of Higher End North Limited and state those matters that we have agreed to state to the Board of Directors of Higher End North Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Higher End North Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Higher End North Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Higher End North Limited. You consider that Higher End North Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Higher End North Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

23 April 2024

 

Higher End North Limited

(Registration number: 13296751)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

940,000

301,657

Current assets

 

Debtors

5

26,042

20,719

Cash at bank and in hand

 

1,761

2,749

 

27,803

23,468

Creditors: Amounts falling due within one year

6

(77,003)

(56,668)

Net current liabilities

 

(49,200)

(33,200)

Total assets less current liabilities

 

890,800

268,457

Creditors: Amounts falling due after more than one year

6

(748,191)

(280,803)

Provisions for liabilities

(64,782)

-

Net assets/(liabilities)

 

77,827

(12,346)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

77,727

(12,446)

Shareholders' funds/(deficit)

 

77,827

(12,346)

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 23 April 2024 and signed on its behalf by:
 

 

Higher End North Limited

(Registration number: 13296751)
Balance Sheet as at 30 April 2023

.........................................
Mr Thomas William White
Director

 

Higher End North Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
17 Lea Green Business Park
Eurolink
St. Helens
WA9 4TR

These financial statements were authorised for issue by the Board on 23 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis of accounting in the preparation of the financial statements.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Higher End North Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Trade debtors

Trade debtors are amounts due from customers for rental income in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Investment properties

2023
£

At 1 May

301,657

Additions

379,214

Fair value adjustments

259,129

At 30 April

940,000

 

Higher End North Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

At the year end the director has valued investment properties held by the company at £940,000 (2022: £301,657). The valuation is based on market values of similar properties in the surrounding area.

If the investment properties had been accounted for under the historic cost accounting rules, the value would be £680,871 (2022: £301,657).

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2023
£

2022
£

Prepayments

466

1,567

Other debtors

25,576

19,152

 

26,042

20,719

6

Creditors

2023
£

2022
£

Due within one year

Trade creditors

74,015

53,680

Accruals and deferred income

1,750

1,750

Other creditors

1,238

1,238

77,003

56,668

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

748,191

280,803

Included within loans and borrowings greater than one year is £748,191 (2022: £180,803). This relates to commercial loans which are secured by way of a fixed charge and negative pledge.

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100