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REGISTERED NUMBER: 10501819 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

HIGHNESS LIMITED

HIGHNESS LIMITED (REGISTERED NUMBER: 10501819)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30TH NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HIGHNESS LIMITED

COMPANY INFORMATION
for the Year Ended 30TH NOVEMBER 2023







DIRECTOR: M D E Bayntun





REGISTERED OFFICE: 146-148 Newington Butts
S L S
London
SE11 4RN





REGISTERED NUMBER: 10501819 (England and Wales)





ACCOUNTANTS: Underwood Barron LLP
Monks Brook House
13 - 17 Hursley Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2FW

HIGHNESS LIMITED (REGISTERED NUMBER: 10501819)

BALANCE SHEET
30TH NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,178,000 2,380,000

CURRENT ASSETS
Debtors 5 629,801 596,509
Cash at bank 2,373 1,912
632,174 598,421
CREDITORS
Amounts falling due within one year 6 180,779 209,458
NET CURRENT ASSETS 451,395 388,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,629,395

2,768,963

CREDITORS
Amounts falling due after more than one
year

7

(1,540,140

)

(1,635,084

)

PROVISIONS FOR LIABILITIES (107,169 ) (139,926 )
NET ASSETS 982,086 993,953

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 321,506 419,779
Retained earnings 660,480 574,074
982,086 993,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 14th August 2024 and were signed by:





M D E Bayntun - Director


HIGHNESS LIMITED (REGISTERED NUMBER: 10501819)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30TH NOVEMBER 2023

1. STATUTORY INFORMATION

Highness 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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st December 2022 2,380,000
Disposals (85,000 )
Revaluations (117,000 )
At 30th November 2023 2,178,000
NET BOOK VALUE
At 30th November 2023 2,178,000
At 30th November 2022 2,380,000

HIGHNESS LIMITED (REGISTERED NUMBER: 10501819)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30TH NOVEMBER 2023

4. INVESTMENT PROPERTY - continued

Fair value at 30th November 2023 is represented by:
£   
Valuation in 2022 65,536
Valuation in 2019 90,000
Valuation in 2020 74,169
Valuation in 2021 315,000
Valuation in 2022 15,000
Valuation in 2023 (131,031 )
Cost 1,749,326
2,178,000

If the investment properties had not been revalued they would have been included at the following historical cost:

30.11.23 30.11.22
£    £   
Cost 1,749,326 1,820,295
Aggregate depreciation (226,575 ) (191,589 )

The investment properties were valued on an open market basis basis on 30th November 2023 by the director of the company .

5. DEBTORS
30.11.23 30.11.22
£    £   
Amounts falling due within one year:
Trade debtors 3,252 2,957
Amounts owed by associates 6,223 5,023
Other debtors 8,947 59,704
18,422 67,684

Amounts falling due after more than one year:
Amounts owed by associates 611,379 528,825

Aggregate amounts 629,801 596,509

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 120,000 120,000
Trade creditors (1 ) 1,589
Amounts owed to associates 2,250 10,487
Taxation and social security 25,790 43,559
Other creditors 32,740 33,823
180,779 209,458

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 1,095,943 1,122,327
Amounts owed to associates 403,504 468,504
Other creditors 40,693 44,253
1,540,140 1,635,084

HIGHNESS LIMITED (REGISTERED NUMBER: 10501819)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30TH NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.11.23 30.11.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 543,943 570,327
Other loans more 5yrs instal 9,829 24,585
553,772 594,912

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 1,215,943 1,242,327

Bank of Cyprus holds fixed and floating charges on the company's investment properties and other assets.

9. RESERVES
Fair
value
reserve
£   
At 1st December 2022 419,779
Transfer to fair value reserve (98,273 )

At 30th November 2023 321,506