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Registered number: 05242667

High Meadow Finance Limited

ACCOUNTS
FOR THE YEAR ENDED 26/03/2024

Prepared By:
MA Partners Audit LLP
7 The Close
Norwich
Norfolk
NR1 4DJ

High Meadow Finance Limited

ACCOUNTS
FOR THE YEAR ENDED 26/03/2024
DIRECTORS
M R Harris
J M Harris
SECRETARY
M R Harris
REGISTERED OFFICE
Independent House
114 Waterloo Road
Norwich
Norfolk
NR3 3HZ
COMPANY DETAILS
Private company limited by shares registered in , registered number 05242667
BANKERS
Bank of Scotland PLC
ACCOUNTANTS
MA Partners Audit LLP
7 The Close
Norwich
Norfolk
NR1 4DJ

High Meadow Finance Limited

ACCOUNTS
FOR THEYEARENDED26/03/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

High Meadow Finance Limited

BALANCE SHEET AT 26/03/2024
20242023
Notes££
FIXED ASSETS
Tangible assets3795,000795,000
CURRENT ASSETS
Debtors51,846,4201,961,567
Cash at bank and in hand116,06110,322
1,962,4811,971,889
CREDITORS: Amounts falling due within one year6793,719763,735
NET CURRENT ASSETS1,168,7621,208,154
TOTAL ASSETS LESS CURRENT LIABILITIES1,963,7622,003,154
CREDITORS: Amounts falling due after more than one year7234,250258,910
PROVISIONS FOR LIABILITIES AND CHARGES931,11831,118
NET ASSETS1,698,3941,713,126
CAPITAL AND RESERVES
Called up share capital1011
Profit and loss account1,698,3931,713,125
SHAREHOLDERS' FUNDS1,698,3941,713,126
For the year ending 26/03/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 19/07/2024 and signed on their behalf by
.............................
M R Harris
Director

High Meadow Finance Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 26/03/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting FRS 1021 a
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The following accounting policies have been applied:
1b. Depreciation
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the reducing balance method. Depreciation is provided on the following basis: Other fixed assets : 33%.
The assets residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.
1c. Investment Properties
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
1d. Interest Income
Interest income is recognised in the Income Statement using the effective interest method.
1e. Finance Costs
Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

High Meadow Finance Limited

1f. Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
1g. Cash And Cash Equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
1h. Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
1i. Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholder.
1j. Provisions For Liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.
1k. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
1l. Borrowing Costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.

High Meadow Finance Limited

1m. Pensions
The Company operates a defined contribution plan for its employees. a defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
2. EMPLOYEES
20242023
No.No.
Average number of employees22
3. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 27/03/20233,8173,817
At 26/03/20243,8173,817
Depreciation
At 27/03/20233,8173,817
At 26/03/20243,8173,817
Net Book Amounts
At 26/03/2024--
4. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 27/03/2023795,000795,000
At 26/03/2024795,000795,000

High Meadow Finance Limited

5. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors1,806,3851,961,532
Other debtors25,000-
Prepayments15,03535
1,846,4201,961,567
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax1,23612,511
Bank Loan25,01025,010
Other creditors399,907349,299
Accruals367,566376,915
793,719763,735
Bank loans amounting to £16,677 (2023: £16,677) are secured by way of a fixed charge over properties owned by the company.
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Bank loans >1yr-158,910
Loans >1yr234,250100,000
234,250258,910
Bank loans amounting to £120,917 (2023: £135,576) are secured by way of a fixed charge over properties owned by the company.
8. LOAN ANALYSIS
Amounts falling due within one year - Bank loans £25,010 (2023: £25,010).
Amounts falling due 1-2 years - Bank loans £25,010 (2023: £25,010).
Amounts falling due 2-5 years - Bank loans £55,031 (2023: £65,031). Amounts falling due after 5 years - Bank loans £54,209 (2023: £68,868); Other loans £100,000 (2023: £100,000).

High Meadow Finance Limited

9. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation25,11825,118
Other provisions6,0006,000
31,11831,118
10. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
1 Class 1 shares of £1 each11
11
11. RELATED PARTY TRANSACTIONS
At the year end, included in other credtors, is a balance of £175,320 (2023: £128,526) owed to M R Harris by the Company, which is repayable on demand, although the Director has undertaken only to withdraw funds if the Company can pay without detriment to its trading cashflow. Interest was charged to the Company in the year at a market rate amounting to £13,151 ( 2023: £11,148).