Registered number
03073784
Highgate Trading (UK) Limited
Unaudited Filleted Accounts
31 December 2023
Highgate Trading (UK) Limited
Registered number: 03073784
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 62,404 62,404
Current assets
Debtors 4 - 772
Cash at bank and in hand 97,373 121,707
97,373 122,479
Creditors: amounts falling due within one year 5 (8,721) (50,918)
Net current assets 88,652 71,561
Net assets 151,056 133,965
Capital and reserves
Called up share capital 100 100
Profit and loss account 150,956 133,865
Shareholders' funds 151,056 133,965
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Patricia Dalton
Director
Approved by the board on 3 June 2024
Highgate Trading (UK) Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
Directors are not employed under contracts of service
3 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 January 2023 56 62,348 62,404
At 31 December 2023 56 62,348 62,404
Direct investments
The company holds the following direct investments in group and participating interests, all of which are registered in the United Kingdom:
Name Class of share held Proportion of share capital held by the company Reporting date of subsidiary Aggregate capital and reserves at latest reporting date (£)
Alexandra Quay Developments Limited Ordinary shares of £1 each 24% 28 February 2024 104,894
Ocean Harvest Limited Ordinary shares of £1 each 100% 30 June 2023 100
Omerta (GB) Limited Ordinary shares of £1 each 40% 28 February 2024 42,742
Panel Fab Holdings Limited Ordinary shares of £1 each 33% 30 September 2023 167,919
Indirect investments
The company holds the following indirect investment in a group and participating interest, which is also registered in the United Kingdom and is a sub-subsidiary of one of the above holdings.
Name Class of share held Proportion of share capital held by the group Reporting date of subsidiary Aggregate capital and reserves at latest reporting date (£)
Grimsby Marina Limited Ordinary shares of £1 each 100% 31 January 2024 1
The above are excluded from consolidation on the grounds that Highgate Trading (UK) Limited is a small company and heads a small group.
4 Debtors 2023 2022
£ £
Other debtors - 772
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 8,231 15,765
Other creditors 490 35,153
8,721 50,918
6 Share Capital 2023 2022
£ £
Ordinary shares of £1 each:
Number Number
Authorised 100 100
£ £
Called up and fully paid 100 100
7 Controlling party
The company is majority owned by Mrs P Dalton and her spouse.
8 Other information
Highgate Trading (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 16 Great Grimsby Seafood Village,
Wickham Road, Fish Docks
Grimsby
N E Lincolnshire
DN31 3SX
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