Registered number
08263526
HIGHCROSS UPVC & DEVELOPMENTS LIMITED
Filleted Accounts
31 March 2024
HIGHCROSS UPVC & DEVELOPMENTS LIMITED
Registered number: 08263526
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 17,332 21,602
Current assets
Stocks 5,000 1,500
Debtors 4 12,786 17,013
Cash at bank and in hand 60,757 138,421
78,543 156,934
Creditors: amounts falling due within one year 5 (11,441) (51,281)
Net current assets 67,102 105,653
Net assets 84,434 127,255
Capital and reserves
Called up share capital 100 100
Profit and loss account 84,334 127,155
Shareholder's funds 84,434 127,255
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S J Williams
Director
Approved by the board on 15 October 2024
HIGHCROSS UPVC & DEVELOPMENTS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 8,657 43,940 52,597
At 31 March 2024 8,657 43,940 52,597
Depreciation
At 1 April 2023 5,614 25,381 30,995
Charge for the year 558 3,712 4,270
At 31 March 2024 6,172 29,093 35,265
Net book value
At 31 March 2024 2,485 14,847 17,332
At 31 March 2023 3,043 18,559 21,602
4 Debtors 2024 2023
£ £
Trade debtors 12,127 4,668
Other debtors 659 12,345
12,786 17,013
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8 -
Trade creditors 6,331 7,477
Taxation and social security costs 3,655 41,831
Other creditors 1,447 1,973
11,441 51,281
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr S J Williams
Directors loan account (17) 21,314 (21,312) (15)
Mrs C Williams
Directors loan account (17) 21,314 (21,311) (14)
(34) 42,628 (42,623) (29)
7 Controlling party
The company is ultimately controlled by the director by virtue of his shareholding.
8 Other information
HIGHCROSS UPVC & DEVELOPMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 15
Enterprise Way
Newport
Gwent
NP20 2AQ
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