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REGISTERED NUMBER: 04078005 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

HIGHER ELEVATION LIMITED

HIGHER ELEVATION LIMITED (REGISTERED NUMBER: 04078005)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGHER ELEVATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: N K Sareen
P A J Zammit





SECRETARY: N K Sareen





REGISTERED OFFICE: Bernard House
Granville Road
Maidstone
Kent
ME14 2BJ





REGISTERED NUMBER: 04078005 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Charlton House
Dour Street
DOVER
Kent
CT16 1BL

HIGHER ELEVATION LIMITED (REGISTERED NUMBER: 04078005)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,244 45,305
Investment property 5 161,416 161,416
179,660 206,721

CURRENT ASSETS
Stocks 30,000 30,000
Debtors 6 273,604 535,195
Cash at bank 348 2,420
303,952 567,615
CREDITORS
Amounts falling due within one year 7 360,444 386,300
NET CURRENT (LIABILITIES)/ASSETS (56,492 ) 181,315
TOTAL ASSETS LESS CURRENT
LIABILITIES

123,168

388,036

CREDITORS
Amounts falling due after more than one year 8 (76,170 ) (116,152 )

PROVISIONS FOR LIABILITIES (4,561 ) (11,326 )
NET ASSETS 42,437 260,558

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 42,435 260,556
SHAREHOLDERS' FUNDS 42,437 260,558

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

HIGHER ELEVATION LIMITED (REGISTERED NUMBER: 04078005)

BALANCE SHEET - continued
30 SEPTEMBER 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 20 January 2025 and were signed on its behalf by:





P A J Zammit - Director


HIGHER ELEVATION LIMITED (REGISTERED NUMBER: 04078005)

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

1. STATUTORY INFORMATION

Higher Elevation 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

HIGHER ELEVATION LIMITED (REGISTERED NUMBER: 04078005)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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 and
depreciated over their estimated useful lives.

The interest element of these obligations is charged to profit and 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 and loss as incurred.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2023 31,164 130,337 161,501
Disposals (8,834 ) (45,517 ) (54,351 )
At 30 September 2024 22,330 84,820 107,150
DEPRECIATION
At 1 October 2023 22,601 93,595 116,196
Charge for year 2,140 9,185 11,325
Eliminated on disposal (7,717 ) (30,898 ) (38,615 )
At 30 September 2024 17,024 71,882 88,906
NET BOOK VALUE
At 30 September 2024 5,306 12,938 18,244
At 30 September 2023 8,563 36,742 45,305

HIGHER ELEVATION LIMITED (REGISTERED NUMBER: 04078005)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 161,416
NET BOOK VALUE
At 30 September 2024 161,416
At 30 September 2023 161,416

The investment property was valued at the year end by the directors using open market conditions at the year end.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 187,970 254,428
Other debtors 60,243 210,752
Directors' current accounts 15,851 37,308
VAT 9,540 32,707
273,604 535,195

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 60,801 23,997
Hire purchase contracts (see note 9) 5,873 10,586
Trade creditors 170,344 211,827
Tax 25,797 58,562
Social security and other taxes 69,845 44,721
Other creditors and accruals 25,365 1,600
Directors' current accounts 2,419 35,007
360,444 386,300

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans - 1-2 years 22,667 23,997
Bank loans - 2-5 years 45,673 48,672
Bank loans more 5 yr by instal - 21,014
Hire purchase contracts (see note 9) 7,830 22,469
76,170 116,152

HIGHER ELEVATION LIMITED (REGISTERED NUMBER: 04078005)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.9.24 30.9.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 21,014

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year 5,873 10,586
Between one and five years 7,830 22,469
13,703 33,055

Non-cancellable operating leases
30.9.24 30.9.23
£    £   
Within one year 42,722 37,336
Between one and five years 44,852 53,608
87,574 90,944

10. SECURED DEBTS

Hire purchase contracts and leases are secured on the related assets.

The Bounce Back Loan of £16,667 (2023 - £26,667) is guaranteed by the government.

The company's bank holds a fixed and floating charge covering all the properties or undertakings of the Company. The charge also contains a negative pledge.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
2 Ordinary 1 2 2

12. RELATED PARTY DISCLOSURES

The Company has previously lent £179,146 to Marina Mobility Limited, a company under common control. The loan is interest free and repayable on demand. The balance outstanding at the year end was £13,104 (2023 - £151,974).