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REGISTERED NUMBER: 04075999 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

GARY IAN HIGNETT LIMITED

GARY IAN HIGNETT LIMITED (REGISTERED NUMBER: 04075999)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


GARY IAN HIGNETT LIMITED (REGISTERED NUMBER: 04075999)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 458 610
Tangible assets 5 431,013 360,903
431,471 361,513

CURRENT ASSETS
Debtors 6 199,520 154,812
Cash at bank - 4,530
199,520 159,342
CREDITORS
Amounts falling due within one year 7 173,594 85,602
NET CURRENT ASSETS 25,926 73,740
TOTAL ASSETS LESS CURRENT
LIABILITIES

457,397

435,253

CREDITORS
Amounts falling due after more than one
year

8

(108,058

)

(72,328

)

PROVISIONS FOR LIABILITIES (57,919 ) -
NET ASSETS 291,420 362,925

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 291,416 362,921
291,420 362,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GARY IAN HIGNETT LIMITED (REGISTERED NUMBER: 04075999)

BALANCE SHEET - continued
30 APRIL 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 January 2025 and were signed by:





G Hignett - Director


GARY IAN HIGNETT LIMITED (REGISTERED NUMBER: 04075999)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Gary Ian Hignett Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04075999

Registered office: 5 Brooklands Place
Brooklands Road
Sale
Manchester
M33 3SD

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

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 - 25% on cost
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

GARY IAN HIGNETT LIMITED (REGISTERED NUMBER: 04075999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

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.

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

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 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 763
AMORTISATION
At 1 May 2023 153
Charge for year 152
At 30 April 2024 305
NET BOOK VALUE
At 30 April 2024 458
At 30 April 2023 610

GARY IAN HIGNETT LIMITED (REGISTERED NUMBER: 04075999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 May 2023 464,349 70,166 691,592 1,226,107
Additions 27,332 17,785 133,785 178,902
At 30 April 2024 491,681 87,951 825,377 1,405,009
DEPRECIATION
At 1 May 2023 297,784 38,918 528,502 865,204
Charge for year 35,771 11,201 61,820 108,792
At 30 April 2024 333,555 50,119 590,322 973,996
NET BOOK VALUE
At 30 April 2024 158,126 37,832 235,055 431,013
At 30 April 2023 166,565 31,248 163,090 360,903

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 86,985
At 30 April 2024 86,985
DEPRECIATION
Charge for year 18,122
At 30 April 2024 18,122
NET BOOK VALUE
At 30 April 2024 68,863

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 160,506 123,990
Other debtors 39,014 30,822
199,520 154,812

GARY IAN HIGNETT LIMITED (REGISTERED NUMBER: 04075999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 39,709 -
Hire purchase contracts 19,246 -
Trade creditors 26,411 8,240
Taxation and social security 59,580 43,472
Other creditors 28,648 33,890
173,594 85,602

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 43,304 -
Other creditors 64,754 72,328
108,058 72,328

9. OTHER FINANCIAL COMMITMENTS

The company had outstanding commitments in respect of hire purchases agreements at 30 April 2024 of £62,550 (2023: £nil)

10. RELATED PARTY DISCLOSURES

At the balance sheet date £87,882 (2023: £102,500) was owing to a pension fund with trustees whom have significant control.