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REGISTERED NUMBER: 04450956 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

HIGHGROVE DESIGNER HOMES LIMITED

HIGHGROVE DESIGNER HOMES LIMITED (REGISTERED NUMBER: 04450956)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGHGROVE DESIGNER HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: K A Wood





REGISTERED OFFICE: The Little Black Dog
The Street
Great Chart
Ashford
Kent
TN23 3AN





REGISTERED NUMBER: 04450956 (England and Wales)





ACCOUNTANTS: Cassidys Chartered Accountants
South Stour Offices
South Stour Road
Mersham
Ashford
Kent
TN25 7HS

HIGHGROVE DESIGNER HOMES LIMITED (REGISTERED NUMBER: 04450956)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,033 39,388

CURRENT ASSETS
Stocks 545,185 354,872
Debtors 5 472,033 1,342,186
Cash at bank 9 189
1,017,227 1,697,247
CREDITORS
Amounts falling due within one year 6 921,247 1,590,110
NET CURRENT ASSETS 95,980 107,137
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,013

146,525

CREDITORS
Amounts falling due after more than one year 7 (27,980 ) (33,704 )

PROVISIONS FOR LIABILITIES (1,228 ) (1,228 )
NET ASSETS 88,805 111,593

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 88,305 111,093
88,805 111,593

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HIGHGROVE DESIGNER HOMES LIMITED (REGISTERED NUMBER: 04450956)

BALANCE SHEET - continued
31 MAY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 November 2024 and were signed by:





K A Wood - Director


HIGHGROVE DESIGNER HOMES LIMITED (REGISTERED NUMBER: 04450956)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Highgrove Designer Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HIGHGROVE DESIGNER HOMES LIMITED (REGISTERED NUMBER: 04450956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 128,765
Additions 172
At 31 May 2024 128,937
DEPRECIATION
At 1 June 2023 89,377
Charge for year 17,527
At 31 May 2024 106,904
NET BOOK VALUE
At 31 May 2024 22,033
At 31 May 2023 39,388

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors - 9,630
Other debtors 472,033 1,332,556
472,033 1,342,186

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 381,778 895,898
Trade creditors 7,369 36,706
Taxation and social security 475 -
Other creditors 531,625 657,506
921,247 1,590,110

HIGHGROVE DESIGNER HOMES LIMITED (REGISTERED NUMBER: 04450956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 27,980 33,704

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,477 11,788

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 359,421 925,496

The bank and other loans are secured by a fixed and floating charge over all assets of the company.

9. RELATED PARTY DISCLOSURES

K Wood - Director and Shareholder


At the balance sheet date Highgrove Designer Homes owed K Wood £470,046 (2023: £419,734).


Midas Investments (South East) Limited

A company in which K Wood is a shareholder.

Amount owed to Midas Investments (South East) Limited as at balance sheet date £Nil (2023: £181,344). In the year £173,097 owed to Midas Investments (South East) Limited was written off.

10. ULTIMATE CONTROLLING PARTY

The controlling party is K A Wood.