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REGISTERED NUMBER: 07054271 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Highfield (North East) Limited

Highfield (North East) Limited (Registered number: 07054271)






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


Highfield (North East) Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: W F Ashton
J Ashton
S Ashton





SECRETARY: J Ashton





REGISTERED OFFICE: 37 Emerald Street
SALTBURN-BY-THE-SEA
North Yorkshire
TS12 1EE





REGISTERED NUMBER: 07054271 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Highfield (North East) Limited (Registered number: 07054271)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 502,995 368,782

CURRENT ASSETS
Debtors 5 319,375 135,312
Cash at bank 161,258 12,471
480,633 147,783
CREDITORS
Amounts falling due within one year 6 449,378 175,017
NET CURRENT ASSETS/(LIABILITIES) 31,255 (27,234 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

534,250

341,548

CREDITORS
Amounts falling due after more than one
year

7

(299,523

)

(212,422

)

PROVISIONS FOR LIABILITIES 11 (6,416 ) -
NET ASSETS 228,311 129,126

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 228,211 129,026
SHAREHOLDERS' FUNDS 228,311 129,126

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.

Highfield (North East) Limited (Registered number: 07054271)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





S Ashton - Director


Highfield (North East) Limited (Registered number: 07054271)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Highfield (North East) 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.

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.

There were no material departures from that standard.

The principle accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised when the provision for services is provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - not provided
Improvements to property - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Tools and equipment - 20% on cost

Tangible fixed assets are held are cost less accumulated depreciation.

Grants
Capital based grants are credited to the profit and loss account in equal instalments, over the estimated useful life of the related asset.

Financial instruments
Basic financial instruments are recognised at amortised cost with charges recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Highfield (North East) Limited (Registered number: 07054271)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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 50 (2022 - 59 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Long to and
leasehold property fittings
£    £    £   
COST
At 1 November 2022 322,905 - 28,473
Additions - 153,767 -
Disposals - - -
At 31 October 2023 322,905 153,767 28,473
DEPRECIATION
At 1 November 2022 - - 28,473
Charge for year - - -
Eliminated on disposal - - -
At 31 October 2023 - - 28,473
NET BOOK VALUE
At 31 October 2023 322,905 153,767 -
At 31 October 2022 322,905 - -

Highfield (North East) Limited (Registered number: 07054271)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Tools and
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 14,963 139,645 505,986
Additions - 9,955 163,722
Disposals (14,963 ) - (14,963 )
At 31 October 2023 - 149,600 654,745
DEPRECIATION
At 1 November 2022 14,963 93,768 137,204
Charge for year - 29,509 29,509
Eliminated on disposal (14,963 ) - (14,963 )
At 31 October 2023 - 123,277 151,750
NET BOOK VALUE
At 31 October 2023 - 26,323 502,995
At 31 October 2022 - 45,877 368,782

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 236,681 135,312
Prepayments and accrued income 82,694 -
319,375 135,312

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 46,408 77,279
Trade creditors 13,275 18,200
Taxation and social security 121,229 63,226
Other creditors 5,271 3,633
Directors' current accounts - 7,949
Accruals and deferred income 263,195 4,730
449,378 175,017

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 179,173 212,422
Accruals and deferred income 120,350 -
299,523 212,422

Highfield (North East) Limited (Registered number: 07054271)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 117,281 85,239

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 46,408 77,279

Amounts falling due between one and two years:
Bank loans - 1-2 years 24,569 55,519

Amounts falling due between two and five years:
Bank loans - 2-5 years 37,323 71,664

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 117,281 85,239

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 46,048 18,382
Between one and five years 73,230 11,610
119,278 29,992

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 225,581 289,701

National Westminster Bank PLC holds a fixed and floating charge over the assets of the business.

Highfield (North East) Limited (Registered number: 07054271)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,416 -

Deferred
tax
£   
Charge to Statement of Income and Retained Earnings during year 6,416
Balance at 31 October 2023 6,416

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100