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Company Registration No. 09910347 (England and Wales)
62 HIGH STREET LIMITED Unaudited accounts for the year ended 31 December 2023
62 HIGH STREET LIMITED Unaudited accounts Contents
Page
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62 HIGH STREET LIMITED Company Information for the year ended 31 December 2023
Director
Alan David Spiller
Company Number
09910347 (England and Wales)
Registered Office
26 Kings Parade Avenue Bristol BS8 2RE
Accountants
Evans Entwistle 10 Fountain Court, Elm House New Leaze Bradley Stoke Bristol BS32 4LA
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of 62 HIGH STREET LIMITED for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 62 HIGH STREET LIMITED for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice 10 Fountain Court, Elm House New Leaze Bradley Stoke Bristol BS32 4LA 17 September 2024
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62 HIGH STREET LIMITED Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
4,600,000 
- 
Current assets
Inventories
- 
1,256,410 
Cash at bank and in hand
875 
72,535 
875 
1,328,945 
Creditors: amounts falling due within one year
(445,109)
(85,626)
Net current (liabilities)/assets
(444,234)
1,243,319 
Total assets less current liabilities
4,155,766 
1,243,319 
Creditors: amounts falling due after more than one year
(2,342,758)
(1,372,456)
Provisions for liabilities
Deferred tax
(490,199)
- 
Net assets/(liabilities)
1,322,809 
(129,137)
Capital and reserves
Called up share capital
100 
100 
Fair value reserve
1,470,598 
- 
Profit and loss account
(147,889)
(129,237)
Shareholders' funds
1,322,809 
(129,137)
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 September 2024 and were signed on its behalf by
Alan David Spiller Director Company Registration No. 09910347
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62 HIGH STREET LIMITED Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
62 HIGH STREET LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09910347. The registered office is 26 Kings Parade Avenue, Bristol, BS8 2RE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Inventories
WIP is stated at the lower of cost and estimated selling price less costs to complete and sell. The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, WIP is assessed for impairment. If WIP is impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Investment property
2023 
£ 
Additions
2,639,202 
Net gain from fair value adjustments
1,960,798 
At 31 December 2023
4,600,000 
5
Inventories
2023 
2022 
£ 
£ 
Work in progress
- 
1,256,410 
- 
1,256,410 
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62 HIGH STREET LIMITED Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
1,726 
83,676 
Accruals
442,083 
650 
Deferred income
1,300 
1,300 
445,109 
85,626 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
1,209,654 
256,355 
Amounts owed to group undertakings and other participating interests
1,133,104 
898,243 
Loans from directors
- 
217,858 
2,342,758 
1,372,456 
8
Deferred taxation
2023 
2022 
£ 
£ 
Revaluation of investment property
490,199 
- 
2023 
2022 
£ 
£ 
Charged to the profit and loss account
490,199 
- 
Provision at end of year
490,199 
- 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Transactions with related parties
At 31 December 2023, the company owed £362,471 (2022: £345,468) to Cube Construction (Southern) Limited, a company under common control. At 31 December 2023, the company owed £478,690 (2022:£478,690) to 5 & 7 Robertson Road Limited, a company under common control. At 31 December 2023, the company owed £74,085 (2022: £74,085) to Severnview Commercial Properties Limited, a company under common control. At 31 December 2023, the company owed £217,858 (2022: £nil) to Spiller Commercial Holdings Ltd, a company under common control. No interest was charged on these balances and there are no fixed repayment terms.
11
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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