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REGISTERED NUMBER: 06077443 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Hightower I.T. Limited

Hightower I.T. Limited (Registered number: 06077443)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hightower I.T. Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: M Mikkelson
J Mikkelson





REGISTERED OFFICE: 7th Floor-East (Programme)
All Sainsts Street
Bristol
BS1 2LZ





REGISTERED NUMBER: 06077443 (England and Wales)





ACCOUNTANTS: Obsidian Accountancy Limited
Suite 9 Corum Two
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Hightower I.T. Limited (Registered number: 06077443)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,791 31,190

CURRENT ASSETS
Debtors 5 289,638 268,245
Cash at bank 367,303 216,932
656,941 485,177
CREDITORS
Amounts falling due within one year 6 167,442 197,846
NET CURRENT ASSETS 489,499 287,331
TOTAL ASSETS LESS CURRENT
LIABILITIES

513,290

318,521

CREDITORS
Amounts falling due after more than
one year

7

14,013

24,013
NET ASSETS 499,277 294,508

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 499,275 294,506
SHAREHOLDERS' FUNDS 499,277 294,508

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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.

Hightower I.T. Limited (Registered number: 06077443)

Balance Sheet - continued
29 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 16 November 2024 and were signed on its behalf by:




J Mikkelson - Director



M Mikkelson - Director


Hightower I.T. Limited (Registered number: 06077443)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Hightower I.T. 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.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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

Hightower I.T. Limited (Registered number: 06077443)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 46,103
Additions 4,205
At 29 February 2024 50,308
DEPRECIATION
At 1 March 2023 14,913
Charge for year 11,604
At 29 February 2024 26,517
NET BOOK VALUE
At 29 February 2024 23,791
At 28 February 2023 31,190

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 1,853 64,791
Other debtors 287,785 203,454
289,638 268,245

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 8,487 8,487
Trade creditors 27,204 3,615
Taxation and social security 129,999 185,744
Other creditors 1,752 -
167,442 197,846

Hightower I.T. Limited (Registered number: 06077443)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 14,013 24,013

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
2 Ordinary £1 2 2

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
J Mikkelson
Balance outstanding at start of year 111,395 59,447
Amounts advanced 112,108 111,948
Amounts repaid (112,000 ) (60,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 111,503 111,395

M Mikkelson
Balance outstanding at start of year 84,858 44,597
Amounts advanced 82,613 90,261
Amounts repaid (85,000 ) (50,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 82,471 84,858

Interest of £2,850 (2023 £2,973) was charged on the loans during the period.