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REGISTERED NUMBER: 02531907 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Highgate Beds Limited

Highgate Beds Limited (Registered number: 02531907)

Contents of the Financial Statements
for the Year Ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Highgate Beds Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: M Ayub
A Ayub





SECRETARY:





REGISTERED OFFICE: Kings Mill
Mill Street East
Dewsbury
West Yorkshire
WF12 9AN





REGISTERED NUMBER: 02531907 (England and Wales)





ACCOUNTANTS: Isaacs
Trust House
St James Business Park
5 New Augustus Street
Bradford
West Yorkshire
BD1 5LL

Highgate Beds Limited (Registered number: 02531907)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 804,194 813,527

CURRENT ASSETS
Stocks 1,378,408 953,408
Debtors 5 203,203 382,014
Cash at bank and in hand 49,886 964,891
1,631,497 2,300,313
CREDITORS
Amounts falling due within one year 6 2,577,815 3,276,626
NET CURRENT LIABILITIES (946,318 ) (976,313 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(142,124

)

(162,786

)

PROVISIONS FOR LIABILITIES 8 172,090 97,598
NET LIABILITIES (314,214 ) (260,384 )

CAPITAL AND RESERVES
Called up share capital 9 25,000 25,000
Retained earnings (339,214 ) (285,384 )
SHAREHOLDERS' FUNDS (314,214 ) (260,384 )

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

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

Highgate Beds Limited (Registered number: 02531907)

Balance Sheet - continued
31 July 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 28 August 2024 and were signed on its behalf by:





A Ayub - Director


Highgate Beds Limited (Registered number: 02531907)

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


1. STATUTORY INFORMATION

Highgate Beds 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.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

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 - 15% on reducing balance

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Highgate Beds Limited (Registered number: 02531907)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or financial leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under financial 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 91 (2022 - 91 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 29,900 3,237,985 3,267,885
Additions - 145,983 145,983
At 31 July 2023 29,900 3,383,968 3,413,868
DEPRECIATION
At 1 August 2022 741 2,453,617 2,454,358
Charge for year 340 154,976 155,316
At 31 July 2023 1,081 2,608,593 2,609,674
NET BOOK VALUE
At 31 July 2023 28,819 775,375 804,194
At 31 July 2022 29,159 784,368 813,527

Highgate Beds Limited (Registered number: 02531907)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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 August 2022 1,005,699
Additions 62,971
At 31 July 2023 1,068,670
DEPRECIATION
At 1 August 2022 638,107
Charge for year 74,421
At 31 July 2023 712,528
NET BOOK VALUE
At 31 July 2023 356,142
At 31 July 2022 367,592

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 184,626 324,444
Other debtors 18,577 57,570
203,203 382,014

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 6,724
Hire purchase contracts (2,564 ) (1,282 )
Trade creditors 1,106,558 1,412,438
Amounts owed to group undertakings 705,000 705,000
Social security and other taxes 616,461 675,830
VAT 300,376 406,475
Other creditors (205,411 ) -
Accrued expenses 57,395 71,441
2,577,815 3,276,626

Highgate Beds Limited (Registered number: 02531907)

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


7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts (2,564 ) (1,282 )

Hire purchase contracts are secured against assets to which they relate.

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 172,090 97,598

Deferred
tax
£   
Balance at 1 August 2022 97,598
Charge to Income Statement during year 74,492
Balance at 31 July 2023 172,090

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
25,000 Ordinary £1 25,000 25,000

10. ULTIMATE CONTROLLING PARTY

The directors consider there to be no ultimate controlling party.