Silverfin false false 31/03/2024 01/04/2023 31/03/2024 B Griffin 15/02/2022 H Wilson 15/02/2022 31 October 2024 The principal activity of the Company continued to be that of the letting of property.

The comparative financial reporting period covers the period from the date of incorporation on 15 February 2022 to 31 March 2023. The reporting period was extended to bring the Company's financial reporting period in line with the rest of its group.
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Company No: 13916301 (England and Wales)

HIGHLINE VENTURES LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

HIGHLINE VENTURES LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

HIGHLINE VENTURES LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
HIGHLINE VENTURES LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 575,965 575,965
575,965 575,965
Current assets
Debtors 4 8,175 3,673
Cash at bank and in hand 818 5,302
8,993 8,975
Creditors: amounts falling due within one year 5 ( 4,460) ( 22,100)
Net current assets/(liabilities) 4,533 (13,125)
Total assets less current liabilities 580,498 562,840
Creditors: amounts falling due after more than one year 6 ( 604,773) ( 583,898)
Net liabilities ( 24,275) ( 21,058)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 24,375 ) ( 21,158 )
Total shareholders' deficit ( 24,275) ( 21,058)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Highline Ventures Ltd (registered number: 13916301) were approved and authorised for issue by the Board of Directors on 31 October 2024. They were signed on its behalf by:

B Griffin
Director
HIGHLINE VENTURES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
HIGHLINE VENTURES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Highline Ventures Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 7.19 Paintworks, Bath Road, Bristol, BS4 3EA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £24,275. The Company is supported through loans from associated companies. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the associated companies will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The comparative financial reporting period covers the period from the date of incorporation on 15 February 2022 to 31 March 2023. The reporting period was extended to bring the Company's financial reporting period in line with the rest of its group.

Turnover

Turnover represents rental income received or receivable, and is recognised on an accruals basis.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 April 2023 575,965
As at 31 March 2024 575,965

Valuation

The directors consider that, by reference to market evidence of transaction prices for similar properties, the open market value of the freehold investment property as at 31 March 2024 is not materially different to the original cost of £575,965.

4. Debtors

2024 2023
£ £
Deferred tax asset 8,125 3,623
Other debtors 50 50
8,175 3,673

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 17,227
Trade creditors 8 0
Accruals and deferred income 4,452 4,873
4,460 22,100

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 409,325 392,098
Amounts owed to Group undertakings 195,448 191,800
604,773 583,898

Paragon Bank plc holds a fixed and floating charge over the assets to which the loan relates. The loan term is 25 years from inception and carries an interest rate of 4.28% per annum.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (secured) 409,325 392,098

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 0.01 each 100 100

8. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Loan due to holder of participating interest 195,448 191,800

The loan is unsecured, has been provided interest free and is repayable on demand.