Company registration number 09500221 (England and Wales)
HIGHBASE LRW LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HIGHBASE LRW LIMITED
COMPANY INFORMATION
Director
Mr S P Henshall
Company number
09500221
Registered office
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
TSB Bank Plc
83-85 High Street
Halesowen
Birmingham
B63 3BQ
HIGHBASE LRW LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
HIGHBASE LRW LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HIGHBASE LRW LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Highbase LRW Limited for the year ended 31 March 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Highbase LRW Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Highbase LRW Limited and state those matters that we have agreed to state to the board of directors of Highbase LRW Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Highbase LRW Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Highbase LRW Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Highbase LRW Limited. You consider that Highbase LRW Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Highbase LRW Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
7 August 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
HIGHBASE LRW LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,743
-
0
Investment property
4
887,525
608,630
892,268
608,630
Current assets
Debtors
5
921
39,627
Cash at bank and in hand
3,182
41,403
4,103
81,030
Creditors: amounts falling due within one year
6
(329,242)
(288,974)
Net current liabilities
(325,139)
(207,944)
Total assets less current liabilities
567,129
400,686
Creditors: amounts falling due after more than one year
7
(515,284)
(344,954)
Net assets
51,845
55,732
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
51,745
55,632
Total equity
51,845
55,732

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

HIGHBASE LRW LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 7 August 2024
Mr S P Henshall
Director
Company registration number 09500221 (England and Wales)
HIGHBASE LRW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Highbase LRW Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Furniture, fixtures and fittings
33% on cost
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HIGHBASE LRW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Furniture, fixtures and fittings
£
Cost
At 1 April 2023
1,871
Additions
7,116
At 31 March 2024
8,987
Depreciation and impairment
At 1 April 2023
1,871
Depreciation charged in the year
2,373
At 31 March 2024
4,244
Carrying amount
At 31 March 2024
4,743
At 31 March 2023
-
0
HIGHBASE LRW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Investment property
2024
£
Fair value
At 1 April 2023
608,630
Additions
278,895
At 31 March 2024
887,525

The director has assessed the market value of the property and considers that there has been no significant change in the market value at the year end.

 

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
783
39,627
Deferred tax asset
138
-
0
921
39,627
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
180
Taxation and social security
-
0
1,093
Other creditors
329,242
287,701
329,242
288,974
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
515,284
344,954
8
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
515,284
344,954
Bank loans are secured against the property to which they relate.
HIGHBASE LRW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
100
100
100
100
10
Ultimate controlling party

The ultimate controlling party is Mr S P Henshall.

2024-03-312023-04-01false07 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr S P Henshallfalsefalse095002212023-04-012024-03-3109500221bus:Director12023-04-012024-03-3109500221bus:RegisteredOffice2023-04-012024-03-3109500221bus:Agent12023-04-012024-03-31095002212024-03-31095002212023-03-3109500221core:FurnitureFittings2024-03-3109500221core:FurnitureFittings2023-03-3109500221core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3109500221core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3109500221core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3109500221core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3109500221core:CurrentFinancialInstruments2024-03-3109500221core:CurrentFinancialInstruments2023-03-3109500221core:ShareCapital2024-03-3109500221core:ShareCapital2023-03-3109500221core:RetainedEarningsAccumulatedLosses2024-03-3109500221core:RetainedEarningsAccumulatedLosses2023-03-3109500221core:FurnitureFittings2023-04-012024-03-31095002212022-04-012023-03-3109500221core:FurnitureFittings2023-03-31095002212023-03-3109500221core:WithinOneYear2024-03-3109500221core:WithinOneYear2023-03-3109500221core:Non-currentFinancialInstruments2024-03-3109500221core:Non-currentFinancialInstruments2023-03-3109500221bus:PrivateLimitedCompanyLtd2023-04-012024-03-3109500221bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109500221bus:FRS1022023-04-012024-03-3109500221bus:AuditExemptWithAccountantsReport2023-04-012024-03-3109500221bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP