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REGISTERED NUMBER: 02103408 (England and Wales)












Unaudited Financial Statements

For The Year Ended

28 February 2024

for

High Garrett Properties Limited

High Garrett Properties Limited (Registered number: 02103408)






Contents of the Financial Statements
For The Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


High Garrett Properties Limited

Company Information
For The Year Ended 28 February 2024







DIRECTORS: D J Wicks
R W J Wicks





SECRETARY: D W G Whipps





REGISTERED OFFICE: Pinetree House
High Garrett
BRAINTREE
Essex
CM7 5NT





REGISTERED NUMBER: 02103408 (England and Wales)





ACCOUNTANT: Alison Hurrell Limited
44 Church Street
Bocking
Braintree
Essex
CM7 5JY

High Garrett Properties Limited (Registered number: 02103408)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,804 44,889
Investment property 5 4,133,233 4,133,233
4,169,037 4,178,122

CURRENT ASSETS
Cash at bank 20,367 14,496

CREDITORS
Amounts falling due within one year 6 50,211 29,871
NET CURRENT LIABILITIES (29,844 ) (15,375 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,139,193

4,162,747

CREDITORS
Amounts falling due after more than one
year

7

(714,050

)

(714,769

)

PROVISIONS FOR LIABILITIES (476,851 ) (478,577 )
NET ASSETS 2,948,292 2,969,401

CAPITAL AND RESERVES
Called up share capital 2,251 2,251
Share premium 911,748 911,748
Capital redemption reserve 500 500
Other reserves 2,003,889 2,003,889
Retained earnings 29,904 51,013
2,948,292 2,969,401

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

High Garrett Properties Limited (Registered number: 02103408)

Balance Sheet - continued
28 February 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 Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





R W J Wicks - Director


High Garrett Properties Limited (Registered number: 02103408)

Notes to the Financial Statements
For The Year Ended 28 February 2024

1. STATUTORY INFORMATION

High Garrett Properties 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

High Garrett Properties Limited (Registered number: 02103408)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 28 February 2024 84,525
DEPRECIATION
At 1 March 2023 39,636
Charge for year 9,085
At 28 February 2024 48,721
NET BOOK VALUE
At 28 February 2024 35,804
At 28 February 2023 44,889

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2023
and 28 February 2024 31,081
DEPRECIATION
At 1 March 2023 12,627
Charge for year 4,613
At 28 February 2024 17,240
NET BOOK VALUE
At 28 February 2024 13,841
At 28 February 2023 18,454

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 28 February 2024 4,133,233
NET BOOK VALUE
At 28 February 2024 4,133,233
At 28 February 2023 4,133,233

High Garrett Properties Limited (Registered number: 02103408)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Hire purchase contracts 719 2,877
Trade creditors 501 -
Taxation and social security 13,527 3,946
Other creditors 35,464 23,048
50,211 29,871

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.24 28.2.23
£    £   
Bank loans 714,050 714,050
Hire purchase contracts - 719
714,050 714,769

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 714,050 714,050