Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 05221936 S U Patel Finney Investments Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05221936 2023-02-28 05221936 2024-02-29 05221936 2023-03-01 2024-02-29 05221936 frs-core:CurrentFinancialInstruments 2024-02-29 05221936 frs-core:FurnitureFittings 2024-02-29 05221936 frs-core:FurnitureFittings 2023-03-01 2024-02-29 05221936 frs-core:FurnitureFittings 2023-02-28 05221936 frs-core:NetGoodwill 2024-02-29 05221936 frs-core:NetGoodwill 2023-03-01 2024-02-29 05221936 frs-core:NetGoodwill 2023-02-28 05221936 frs-core:MotorVehicles 2024-02-29 05221936 frs-core:MotorVehicles 2023-03-01 2024-02-29 05221936 frs-core:MotorVehicles 2023-02-28 05221936 frs-core:ShareCapital 2024-02-29 05221936 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 05221936 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05221936 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 05221936 frs-bus:SmallEntities 2023-03-01 2024-02-29 05221936 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05221936 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05221936 1 2023-03-01 2024-02-29 05221936 frs-bus:Director1 2023-03-01 2024-02-29 05221936 frs-bus:Director1 2023-02-28 05221936 frs-bus:Director1 2024-02-29 05221936 frs-countries:EnglandWales 2023-03-01 2024-02-29 05221936 2022-02-28 05221936 2023-02-28 05221936 2022-03-01 2023-02-28 05221936 frs-core:CurrentFinancialInstruments 2023-02-28 05221936 frs-core:ShareCapital 2023-02-28 05221936 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 05221936
Highem Limited
Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05221936
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 140,000 260,000
Tangible Assets 5 11,082 10,083
151,082 270,083
CURRENT ASSETS
Stocks 130,783 196,632
Debtors 6 521,796 544,550
Cash at bank and in hand 256,211 276,998
908,790 1,018,180
Creditors: Amounts Falling Due Within One Year 7 (453,850 ) (602,429 )
NET CURRENT ASSETS (LIABILITIES) 454,940 415,751
TOTAL ASSETS LESS CURRENT LIABILITIES 606,022 685,834
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,985 ) (1,985 )
NET ASSETS 604,037 683,849
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 603,937 683,749
SHAREHOLDERS' FUNDS 604,037 683,849
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S U Patel
Director
25th November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Highem Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05221936 . The registered office is Watergates Building, 109 Coleman Road, Leicester, LE5 4LE.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% on reducing balance
Fixtures & Fittings 20% on reducing balance
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.6. Taxation
Taxation for the period 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 statement of financial position date.
Deffered Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 27 (2023: 23)
27 23
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4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 2,400,000
As at 29 February 2024 2,400,000
Amortisation
As at 1 March 2023 2,140,000
Provided during the period 120,000
As at 29 February 2024 2,260,000
Net Book Value
As at 29 February 2024 140,000
As at 1 March 2023 260,000
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2023 25,645 100,692 126,337
Additions - 3,769 3,769
As at 29 February 2024 25,645 104,461 130,106
Depreciation
As at 1 March 2023 19,872 96,382 116,254
Provided during the period 1,155 1,615 2,770
As at 29 February 2024 21,027 97,997 119,024
Net Book Value
As at 29 February 2024 4,618 6,464 11,082
As at 1 March 2023 5,773 4,310 10,083
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,172 17,754
Amounts owed by group undertakings 228,812 228,812
Other debtors 288,812 297,984
521,796 544,550
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 413,320 551,487
Other creditors 25,120 48,236
Taxation and social security 15,410 2,706
453,850 602,429
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
The following advances and credits to directors subsisted during the current and prior periods:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr. Shabbirahmed Patel (3,315 ) 12,987 (12,276 ) - (2,604 )
The above loan is unsecured, interest free and repayable on demand.
10. Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
11. Ultimate Controlling Party
The company's ultimate controlling party is Finney Investments Ltd (Reg: 05446329) by virtue of holding entire share capital of the company. 
The company is registered in the United Kingdom and its registered office address is 109 Coleman Road, Leicester, LE5 4LE. 
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