Registered number
11204542
Highlands of Royston Limited
Report and Accounts
31 March 2024
CALM Retail Accounting Ltd
Chartered Certified Accountants
Low Cottage, 10 Low Cross, Whittlesey, Peterborough, PE7 1HW
Reg. in England & Wales 14707297
Highlands of Royston Limited
Registered number: 11204542
Director's Report
The director presents his report and accounts for the year ended 31 March 2024.
Principal activities
The company's principal activity during the year continued to be that of the operating of petrol stations
Directors
The following persons served as directors during the year:
T W Highland
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 31 October 2024 and signed on its behalf.
Mr T Highland
Director
Highlands of Royston Limited
Report to the director on the preparation of the unaudited statutory accounts of Highlands of Royston Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Highlands of Royston Limited for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
C.A.L.M. Retail Accounting Ltd
Chartered Certified Accountants
10 Low Cross
Whittlesey
Peterborough
Cambridgeshire
PE7 1HW
31 October 2024
Highlands of Royston Limited
Registered number: 11204542
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 232,599 175,747
Current assets
Stocks 115,055 118,328
Debtors 4 706,159 450,296
Cash at bank and in hand 481,138 495,234
1,302,352 1,063,858
Creditors: amounts falling due within one year 5 (819,044) (689,146)
Net current assets 483,308 374,712
Total assets less current liabilities 715,907 550,459
Provisions for liabilities (16,948) -
Net assets 698,959 550,459
Capital and reserves
Called up share capital 100 100
Profit and loss account 698,859 550,359
Shareholder's funds 698,959 550,459
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T Highland
Director
Approved by the board on 31 October 2024
Highlands of Royston Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 20% on a Reducing Balance Basis
Fixtures and Fittings 20% on a Reducing Balance Basis
Computers 33% On a Straight Line Basis
Motor Vehicles 25% On a Straight Line Basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 13
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 255,567 86,870 - 342,437
Additions 15,810 29,150 71,650 116,610
At 31 March 2024 271,377 116,020 71,650 459,047
Depreciation
At 1 April 2023 126,815 39,875 - 166,690
Charge for the year 25,750 16,095 17,913 59,758
At 31 March 2024 152,565 55,970 17,913 226,448
Net book value
At 31 March 2024 118,812 60,050 53,737 232,599
At 31 March 2023 128,752 46,995 - 175,747
4 Debtors 2024 2023
£ £
Trade debtors 204,769 122,941
Other debtors 501,390 327,355
706,159 450,296
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 14,309 -
Trade creditors 735,813 570,216
Taxation and social security costs 59,490 115,461
Other creditors 9,432 3,469
819,044 689,146
There is a fixed and floating charge on the assets of the company
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
T W Highland
Loan has been repaid within 9 Months 322,242 612,235 (441,062) 493,415
322,242 612,235 (441,062) 493,415
7 Other information
Highlands of Royston Limited is a private company limited by shares and incorporated in England. Its registered office is:
10 Low Cross
Whittlesey
Peterborough
PE7 1HW
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