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REGISTERED NUMBER: 00889412 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

HIGHLAND ELECTRIX (BRIDGEND) LIMITED

HIGHLAND ELECTRIX (BRIDGEND) LIMITED (REGISTERED NUMBER: 00889412)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGHLAND ELECTRIX (BRIDGEND) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: P R Caddy
C N Caddy
A B Caddy





SECRETARY: C N Caddy





REGISTERED OFFICE: 1A and 1B Attlee Street
Brynmenyn
Bridgend
CF32 9TQ





REGISTERED NUMBER: 00889412 (England and Wales)





ACCOUNTANTS: Graham Paul Limited
Court House
Court Road
Bridgend
CF31 1BE

HIGHLAND ELECTRIX (BRIDGEND) LIMITED (REGISTERED NUMBER: 00889412)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 95,347 118,475

CURRENT ASSETS
Stocks 50,000 50,000
Debtors 5 543,820 704,142
Cash at bank 86 45,436
593,906 799,578
CREDITORS
Amounts falling due within one year 6 1,108,291 1,026,237
NET CURRENT LIABILITIES (514,385 ) (226,659 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(419,038

)

(108,184

)

CREDITORS
Amounts falling due after more than one
year

7

143,875

202,263
NET LIABILITIES (562,913 ) (310,447 )

CAPITAL AND RESERVES
Called up share capital 62 62
Share premium 46,887 46,887
Other reserves 95 95
Retained earnings (609,957 ) (357,491 )
(562,913 ) (310,447 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

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

HIGHLAND ELECTRIX (BRIDGEND) LIMITED (REGISTERED NUMBER: 00889412)

BALANCE SHEET - continued
31 OCTOBER 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 30 July 2024 and were signed on its behalf by:





A B Caddy - Director


HIGHLAND ELECTRIX (BRIDGEND) LIMITED (REGISTERED NUMBER: 00889412)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Highland Electrix (Bridgend) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts are prepared on the going concern basis. This basis is deemed appropriate due to the continuing support of the parent company and the company's bankers.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on cost, 25% on reducing balance, 10% on reducing balance and 2% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

HIGHLAND ELECTRIX (BRIDGEND) LIMITED (REGISTERED NUMBER: 00889412)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 38 (2022 - 37 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 344,468
Additions 1,700
Disposals (5,995 )
At 31 October 2023 340,173
DEPRECIATION
At 1 November 2022 225,993
Charge for year 24,686
Eliminated on disposal (5,853 )
At 31 October 2023 244,826
NET BOOK VALUE
At 31 October 2023 95,347
At 31 October 2022 118,475

HIGHLAND ELECTRIX (BRIDGEND) LIMITED (REGISTERED NUMBER: 00889412)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2022 117,820
Transfer to ownership (45,740 )
At 31 October 2023 72,080
DEPRECIATION
At 1 November 2022 37,057
Charge for year 17,723
Transfer to ownership (35,869 )
At 31 October 2023 18,911
NET BOOK VALUE
At 31 October 2023 53,169
At 31 October 2022 80,763

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 433,916 596,039
Amounts recoverable on contract 104,668 102,685
Other debtors 5,236 5,418
543,820 704,142

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 222,028 166,676
Hire purchase contracts 8,644 9,469
Trade creditors 395,692 481,427
Amounts owed to group undertakings 303,949 243,049
Taxation and social security 119,336 77,202
Other creditors 58,642 48,414
1,108,291 1,026,237

HIGHLAND ELECTRIX (BRIDGEND) LIMITED (REGISTERED NUMBER: 00889412)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 100,000 150,000
Hire purchase contracts 43,875 52,263
143,875 202,263

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end £28,036 (2022: £157) was due to the directors. This amount is interest free and is repayable on demand.

9. RELATED PARTY DISCLOSURES

The company rents a premises from Caddy Holdings Bridgend Limited for nil cost.

Included in creditors is an amount of £303,949 (2022: £243,049) due to Caddy Holdings Bridgend Limited.

Caddy Holdings Bridgend Limited is the majority shareholder of Highland Electrix (Bridgend) Limited.