Registration number:
High Latitude Services Limited
for the Year Ended 30 June 2024
High Latitude Services Limited
(Registration number: 06330757)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Other financial assets |
557,510 |
502,861 |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the
.........................................
Director
High Latitude Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Accounting policies |
Statutory information
High Latitude Services Limited is a private company, limited by shares, domiciled in England and Wales, company number 06330757. The registered office is at 602 Redmires Road, Sheffield, S10 4LJ.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Foreign currency transactions and balances
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
High Latitude Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
1 |
Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
20% straight line basis |
Defined contribution pension obligation
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
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Depreciation expense |
522 |
639 |
(Gain)/loss on disposal of current asset investments |
3,327 |
(1,850) |
High Latitude Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 July 2023 |
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At 30 June 2024 |
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Depreciation |
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At 1 July 2023 |
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Charge for the year |
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At 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
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At 30 June 2023 |
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Financial assets |
2024 |
2023 |
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Current financial assets |
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Financial assets at fair value through profit and loss |
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The historical cost of the current financial assets is £481,454 (2023 - £460,541).
Debtors |
Current |
2024 |
2023 |
Other debtors |
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High Latitude Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
Creditors |
2024 |
2023 |
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Due within one year |
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Taxation and social security |
- |
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Accruals and deferred income |
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Related party transactions |
During the year the director had an interest free loan account with the company. At the balance sheet date the amount owed to the company was £1,390 (2023: £964).