Highworth Property Investments Limited 07684176 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is letting its own investment property. Digita Accounts Production Advanced 6.30.9574.0 true 07684176 2023-08-01 2024-07-31 07684176 2024-07-31 07684176 core:OtherReservesSubtotal 2024-07-31 07684176 core:RetainedEarningsAccumulatedLosses 2024-07-31 07684176 core:ShareCapital 2024-07-31 07684176 core:CurrentFinancialInstruments 2024-07-31 07684176 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 07684176 core:FurnitureFittings 2024-07-31 07684176 bus:SmallEntities 2023-08-01 2024-07-31 07684176 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 07684176 bus:FullAccounts 2023-08-01 2024-07-31 07684176 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 07684176 bus:RegisteredOffice 2023-08-01 2024-07-31 07684176 bus:Director1 2023-08-01 2024-07-31 07684176 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07684176 core:FurnitureFittings 2023-08-01 2024-07-31 07684176 countries:EnglandWales 2023-08-01 2024-07-31 07684176 2023-07-31 07684176 core:FurnitureFittings 2023-07-31 07684176 2022-08-01 2023-07-31 07684176 2023-07-31 07684176 core:OtherReservesSubtotal 2023-07-31 07684176 core:RetainedEarningsAccumulatedLosses 2023-07-31 07684176 core:ShareCapital 2023-07-31 07684176 core:CurrentFinancialInstruments 2023-07-31 07684176 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 07684176 core:FurnitureFittings 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 07684176

Highworth Property Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Highworth Property Investments Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Highworth Property Investments Limited

(Registration number: 07684176)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4

4

Investment property

5

355,000

355,000

 

355,004

355,004

Current assets

 

Debtors

6

-

47,445

Cash at bank and in hand

 

255,327

255,313

 

255,327

302,758

Creditors: Amounts falling due within one year

7

(5,633)

(3,432)

Net current assets

 

249,694

299,326

Total assets less current liabilities

 

604,698

654,330

Provisions for liabilities

(3,992)

(3,992)

Net assets

 

600,706

650,338

Capital and reserves

 

Called up share capital

103

103

Other reserves

35,622

35,622

Retained earnings

564,981

614,613

Shareholders' funds

 

600,706

650,338

 

Highworth Property Investments Limited

(Registration number: 07684176)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 October 2024 and signed on its behalf by:
 

.........................................
Mr D S Tiney
Director

 

Highworth Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
16 Dorcan Business Village
Murdock Road, Dorcan
Swindon
Wiltshire
SN3 5HY

The principal place of business is:
14 Raven Way
Shrivenham
Swindon
Wiltshire
SN6 8FX
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

 

Highworth Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The 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 where the revision affects only that period, or in the period of the revision and future periods where the revison affects both current and future periods.

Investment properties are valued by the director Mr D S Tiney based on his estimate of the open market value at each balance sheet date.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and rents receivable from investment properties.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliabily. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

20% straight line basis

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 the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Highworth Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 August 2023

4,818

4,818

At 31 July 2024

4,818

4,818

Depreciation

At 1 August 2023

4,814

4,814

At 31 July 2024

4,814

4,814

Carrying amount

At 31 July 2024

4

4

At 31 July 2023

4

4

5

Investment properties

2024
£

At 31 July 2024

355,000

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the director D S Tiney on an open market basis by reference to market evidence of transaction prices for similar properties.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amount that would have been included is £315,388 (2023 £315,388).

 

Highworth Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Debtors

2024
£

2023
£

Prepayments

-

71

Other debtors

-

47,374

-

47,445

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

992

1,327

Other creditors

4,641

2,105

5,633

3,432