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REGISTERED NUMBER: 09489286 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

HIGHBEECH PROPERTIES LIMITED

HIGHBEECH PROPERTIES LIMITED (REGISTERED NUMBER: 09489286)






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


HIGHBEECH PROPERTIES LIMITED

Company Information
for the year ended 31 March 2024







DIRECTORS: S Porpora
C A Porpora
B R Pigram
F J Pigram





REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB





REGISTERED NUMBER: 09489286 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

HIGHBEECH PROPERTIES LIMITED (REGISTERED NUMBER: 09489286)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 13,395 17,416

CURRENT ASSETS
Stocks 5 1,040,505 610,756
Debtors 6 65,281 47,898
Cash at bank 11,683 31,454
1,117,469 690,108
CREDITORS
Amounts falling due within one year 7 (1,137,644 ) (612,426 )
NET CURRENT (LIABILITIES)/ASSETS (20,175 ) 77,682
TOTAL ASSETS LESS CURRENT
LIABILITIES

(6,780

)

95,098

PROVISIONS FOR LIABILITIES 8 (2,545 ) (4,354 )
NET (LIABILITIES)/ASSETS (9,325 ) 90,744

CAPITAL AND RESERVES
Called up share capital 9 8 4
Retained earnings (9,333 ) 90,740
SHAREHOLDERS' FUNDS (9,325 ) 90,744

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

HIGHBEECH PROPERTIES LIMITED (REGISTERED NUMBER: 09489286)

Balance Sheet - continued
31 March 2024


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 5 September 2024 and were signed on its behalf by:





C A Porpora - Director


HIGHBEECH PROPERTIES LIMITED (REGISTERED NUMBER: 09489286)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Highbeech Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and business address can be found on the Company Information page.

The presentational currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates and these estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The items in the financial statements where these judgements and estimates have been made include, but are not limited to, the useful economic life of tangible fixed assets, the depreciation of these assets and the recoverability of debtors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of properties is recognised on completion.

Tangible fixed assets
Tangible fixed assets held for the Company's own use are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful economic life.

Computer equipment- 33% on cost
Motor vehicles- 25% reducing balance
Fixtures and Fittings - 25% reducing balance
Plant and machinery - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.


HIGHBEECH PROPERTIES LIMITED (REGISTERED NUMBER: 09489286)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance 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.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Impairment
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

HIGHBEECH PROPERTIES LIMITED (REGISTERED NUMBER: 09489286)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 896 862 38,341 4,971 45,070
Additions - 232 - 490 722
At 31 March 2024 896 1,094 38,341 5,461 45,792
DEPRECIATION
At 1 April 2023 216 692 22,166 4,580 27,654
Charge for year 170 103 4,043 427 4,743
At 31 March 2024 386 795 26,209 5,007 32,397
NET BOOK VALUE
At 31 March 2024 510 299 12,132 454 13,395
At 31 March 2023 680 170 16,175 391 17,416

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 38,341
Transfer to ownership (38,341 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 22,166
Charge for year 4,043
Transfer to ownership (26,209 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 16,175

5. STOCKS
2024 2023
£    £   
Stock 1,040,505 610,756

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 65,281 47,898

HIGHBEECH PROPERTIES LIMITED (REGISTERED NUMBER: 09489286)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 3,131
Trade creditors 59,079 -
Taxation and social security 5,880 23,983
Other creditors 1,072,685 585,312
1,137,644 612,426

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,545 4,354

Deferred
tax
£   
Balance at 1 April 2023 4,354
Accelerated capital allowances (1,809 )
Balance at 31 March 2024 2,545

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
4 Share capital 1 £1 8 4

4 Ordinary shares of £1 each were allotted at par during the year.