REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
HIGH CROSS ESTATES LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
HIGH CROSS ESTATES LIMITED |
HIGH CROSS ESTATES LIMITED (REGISTERED NUMBER: 00237141) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HIGH CROSS ESTATES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Five Ways |
57-59 Hatfield Road |
Potters Bar |
Hertfordshire |
EN6 1HS |
HIGH CROSS ESTATES LIMITED (REGISTERED NUMBER: 00237141) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
HIGH CROSS ESTATES LIMITED (REGISTERED NUMBER: 00237141) |
BALANCE SHEET - continued |
31 MARCH 2024 |
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 |
HIGH CROSS ESTATES LIMITED (REGISTERED NUMBER: 00237141) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
High Cross Estates Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents gross rents received and profits on properties sold. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stock of properties is at valuation in 1945 with subsequent additions at cost. |
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. |
Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the income statement. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the income statement. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
HIGH CROSS ESTATES LIMITED (REGISTERED NUMBER: 00237141) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | STOCKS |
Stock represents properties totalling £4,302,136 (2023: £4,209,288). The properties are as valued in 1945 with subsequent additions at cost. |
6. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Rent | 2,563 | 18,631 |
Prepayments |
Amounts falling due after more than one year: |
Other Loan <1yr | 28,261 | 33,549 |
Other Loan >1yr |
Aggregate amounts |
HIGH CROSS ESTATES LIMITED (REGISTERED NUMBER: 00237141) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
6. | DEBTORS - continued |
During the year to 31st March 2022 a loan of £311,375 was made to Mr and Mrs Gammage, a relative of Mr and Mrs Bishop. Interest is charged at 2% per annum and is repayable on demand. As at 31st March 2024 the loan due to the company is £277,874 (2023: 287,028). |
During the year to 31st March 2023 a loan of £858,250 was made to Mr James and Mrs Natasha Bishop, a relative of Mr John and Mrs Priscilla Bishop. Interest is charged at 2% per annum and is repayable on demand. As at 31st March 2024 the loan due to the company is £841,142 (2023: 858,250). |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 567 | 723 |
Accrued expenses |
8. | RELATED PARTY DISCLOSURES |
As at the balance sheet date, the company owed the director Mrs P Bishop £567 (2023: £723). |
9. | CONTROLLING PARTY |
Throughout the current and previous year P Bishop has controlled the company by virtue of holding the majority of the issued share capital. |