0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-14 Sage Accounts Production Advanced 2023 - FRS102_2023 15,151,625 8,348,375 23,500,000 23,500,000 xbrli:pure xbrli:shares iso4217:GBP 14483487 2022-11-14 2023-11-30 14483487 2023-11-30 14483487 2022-11-13 14483487 bus:Director1 2022-11-14 2023-11-30 14483487 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-14 2023-11-30 14483487 core:WithinOneYear 2023-11-30 14483487 core:ShareCapital 2023-11-30 14483487 core:RetainedEarningsAccumulatedLosses 2023-11-30 14483487 core:LandBuildings core:OwnedOrFreeholdAssets 2023-11-30 14483487 bus:SmallEntities 2022-11-14 2023-11-30 14483487 bus:AuditExempt-NoAccountantsReport 2022-11-14 2023-11-30 14483487 bus:SmallCompaniesRegimeForAccounts 2022-11-14 2023-11-30 14483487 bus:PrivateLimitedCompanyLtd 2022-11-14 2023-11-30 14483487 bus:FullAccounts 2022-11-14 2023-11-30
COMPANY REGISTRATION NUMBER: 14483487
HIGHZONE CROYDON LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2023
HIGHZONE CROYDON LIMITED
BALANCE SHEET
30 November 2023
30 Nov 23
Note
£
£
FIXED ASSETS
Tangible assets
4
23,500,000
CURRENT ASSETS
Cash at bank and in hand
1,002
CREDITORS: amounts falling due within one year
5
( 16,754,361)
---------------
NET CURRENT LIABILITIES
( 16,753,359)
---------------
TOTAL ASSETS LESS CURRENT LIABILITIES
6,746,641
PROVISIONS
( 2,212,094)
-------------
NET ASSETS
4,534,547
-------------
CAPITAL AND RESERVES
Called up share capital
1,000
Profit and loss account
4,533,547
-------------
SHAREHOLDERS FUNDS
4,534,547
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 4 September 2024 , and are signed on behalf of the board by:
Mr P B Olsberg
Director
Company registration number: 14483487
HIGHZONE CROYDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 14 NOVEMBER 2022 TO 30 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 OPU.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investment properties
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition investment properties are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise. Acquisitions and disposals of properties Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. TANGIBLE ASSETS
Freehold investment property
£
Fair value
At 14 November 2022
Additions
15,151,625
Revaluations
8,348,375
---------------
At 30 November 2023
23,500,000
---------------
Carrying amount
At 30 November 2023
23,500,000
---------------
The historical cost of the properties is £15,151,625. Investment property fair value is determined by the directors based on their understanding of property market conditions and the specific property concerned, using a sales valuation approach, derived from recent comparable transactions on the market and commercial yields, adjusted by applying discounts to reflect status of occupation and condition.
5. CREDITORS: amounts falling due within one year
30 Nov 23
£
Bank loans and overdrafts
4,250,000
Trade creditors
178,885
Amounts owed to group undertakings
12,322,476
Other creditors
3,000
---------------
16,754,361
---------------
Bank loans and overdrafts are secured against the company's investment property and were refinanced after the period end with long term finance.