Caseware UK (AP4) 2023.0.135 2023.0.135 false2023-04-01Hotels and similar accommodation Primary education General secondary education First-degree level higher education11falsetrue 11944045 2023-04-01 2024-03-31 11944045 2024-03-31 11944045 2023-03-31 11944045 2023-04-01 2024-03-31 11944045 2022-05-01 2023-03-31 11944045 2024-03-31 11944045 2023-03-31 11944045 2022-05-01 11944045 c:Director2 2023-04-01 2024-03-31 11944045 d:CurrentFinancialInstruments 2024-03-31 11944045 d:CurrentFinancialInstruments 2023-03-31 11944045 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11944045 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11944045 d:ShareCapital 2023-04-01 2024-03-31 11944045 d:ShareCapital 2024-03-31 11944045 d:ShareCapital 2022-05-01 2023-03-31 11944045 d:ShareCapital 2023-03-31 11944045 d:ShareCapital 2022-05-01 11944045 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 11944045 d:RetainedEarningsAccumulatedLosses 2024-03-31 11944045 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-03-31 11944045 d:RetainedEarningsAccumulatedLosses 2023-03-31 11944045 d:RetainedEarningsAccumulatedLosses 2022-05-01 11944045 c:OrdinaryShareClass1 2023-04-01 2024-03-31 11944045 c:OrdinaryShareClass1 2024-03-31 11944045 c:OrdinaryShareClass1 2023-03-31 11944045 c:OrdinaryShareClass2 2023-04-01 2024-03-31 11944045 c:OrdinaryShareClass2 2024-03-31 11944045 c:FRS102 2023-04-01 2024-03-31 11944045 c:Audited 2023-04-01 2024-03-31 11944045 c:FullAccounts 2023-04-01 2024-03-31 11944045 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11944045 c:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11944045 2 2023-04-01 2024-03-31 11944045 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11944045









Higglo Private Limited









Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2024

 
Higglo Private Limited
Registered number: 11944045

Statement of financial position
As at 31 March 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
2,385,918
1,968,256

Cash at bank and in hand
 6 
13,547
-

  
2,399,465
1,968,256

Creditors: amounts falling due within one year
 7 
(18,780)
(9,159)

Net current assets
  
 
 
2,380,685
 
 
1,959,097

Total assets less current liabilities
  
2,380,685
1,959,097

  

Net assets
  
2,380,685
1,959,097


Capital and reserves
  

Called up share capital 
 8 
2,350,001
1,950,001

Profit and loss account
  
30,684
9,096

  
2,380,685
1,959,097


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 October 2024.




Mr  Dhamodaran Srinivasan
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 1

 
Higglo Private Limited
 

Statement of changes in equity
For the Year Ended 31 March 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 May 2022
1,650,001
(29,030)
1,620,971


Comprehensive income for the period

Profit for the period

-
38,126
38,126


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
38,126
38,126


Contributions by and distributions to owners

Shares issued during the period
300,000
-
300,000


Total transactions with owners
300,000
-
300,000



At 1 April 2023
1,950,001
9,096
1,959,097


Comprehensive income for the year

Profit for the year

-
21,588
21,588


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
21,588
21,588


Contributions by and distributions to owners

Shares issued during the year
400,000
-
400,000


Total transactions with owners
400,000
-
400,000


At 31 March 2024
2,350,001
30,684
2,380,685


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
Higglo Private Limited
 
 
 
Notes to the financial statements
For the Year Ended 31 March 2024

1.


General information

Higglo Private Limited is a private company limited by shares incorporated in England and Wales. The registered office is 169 Biggin Hill, London, United Kingdom.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
Higglo Private Limited
 
 
 
Notes to the financial statements
For the Year Ended 31 March 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 4

 
Higglo Private Limited
 
 
 
Notes to the financial statements
For the Year Ended 31 March 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements, management are required to make estimates and judgments which may materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities, and the valuation of investment properties, which were based on open market transactions. The estimates and assumptions are reviewed on an on-going basis and are based on historical experience and other factors that are considered to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
Higglo Private Limited
 
 
 
Notes to the financial statements
For the Year Ended 31 March 2024

5.


Debtors

2024
2023
£
£


Other debtors
2,385,918
1,968,256

2,385,918
1,968,256



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
13,547
-

Less: bank overdrafts
-
(246)

13,547
(246)



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
246

Trade creditors
-
173

Corporation tax
7,199
2,135

Other taxation and social security
-
838

Other creditors
3,981
4,667

Accruals and deferred income
7,600
1,100

18,780
9,159


Page 6

 
Higglo Private Limited
 
 
 
Notes to the financial statements
For the Year Ended 31 March 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,950,001 (2023 - 1,950,001) Ordinary shares of £1.00 each
1,950,001
1,950,001
400,000 (2023 - ) Ordinary shares of £1.00 each
400,000
-

2,350,001

1,950,001


During the year, the Company issued 400,000 ordinary shares of £1 each at par.


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £444 (2023: £216) . Contributions totaling £nil (2023: £192) were payable to the fund at the balance sheet date.


10.


Related party transactions

During the year, the company provided advances totaling £368,400 (2023: £283,800) to a company under common control. Amount owed from the company under common control at year end was £2,261,700 (2023: £1,893,300) which is included in other debtors. These advances are unsecured, repayable on demand and  carry interest @2.27% p.a. During the year, the Company charged interest of £49,257 (2023: £74,955)  on these advances and total accrued interest receivable at the balance sheet date of £124,212 (2023: £74,955) is included in other debtors.


11.


Comparatives

The Company shortened its previous accounting period from 30 April 2023 to 31 March 2023 hence the Comparatives show the result for 11 months ending on 31 March 2023 where as the current year financial statements show the results for 12 months ending on 31 March 2024.


12.


Controlling party

The Company is controlled by Kushmitha Foundations Private Limited, a company registered in India. In the opinion of the directors there is no single ultimate controlling party. 


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 18 October 2024 by Janak Raj Pokhrel (Senior statutory auditor) on behalf of Mantax Lynton.

 
Page 7