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Registration number: 02041229

Highland Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Highland Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 7

 

Highland Properties Limited

Company Information

Directors

S Meldrum

G Watt

C Watt

Company secretary

C Watt

Registered office

Broxhead Trading Estate
Lindford Road
Bordon
Hampshire
GU35 0JX

Accountants

A J Wheeler Ltd - Trading as Howard Smith & Co
Chartered Certified Accountants
338 London Road
Portsmouth
Hampshire
PO2 9JY

 

Highland Properties Limited

(Registration number: 02041229)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

19,825

10,324

Investment property

5

650,000

600,000

 

669,825

610,324

Current assets

 

Debtors

6

1,716

844

Cash at bank and in hand

 

14,003

26,616

 

15,719

27,460

Creditors: Amounts falling due within one year

7

(6,967)

(5,766)

Net current assets

 

8,752

21,694

Total assets less current liabilities

 

678,577

632,018

Provisions for liabilities

(60,603)

(49,408)

Net assets

 

617,974

582,610

Capital and reserves

 

Called up share capital

2

2

Other reserves

279,631

279,631

Retained earnings

338,341

302,977

Shareholders' funds

 

617,974

582,610

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Highland Properties Limited

(Registration number: 02041229)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 20 January 2025 and signed on its behalf by:
 

.........................................
G Watt
Director

 

Highland Properties Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Other reserves
£

Retained earnings
£

Total
£

At 1 May 2023

2

279,631

302,977

582,610

Profit for the year

-

-

48,564

48,564

Dividends

-

-

(13,200)

(13,200)

At 30 April 2024

2

279,631

338,341

617,974

Share capital
£

Other reserves
£

Retained earnings
£

Total
£

At 1 May 2022

2

279,631

397,734

677,367

Profit for the year

-

-

49,243

49,243

Dividends

-

-

(144,000)

(144,000)

New share capital subscribed

2

-

-

2

Other share capital movements

(2)

-

-

(2)

At 30 April 2023

2

279,631

302,977

582,610

 

Highland Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Broxhead Trading Estate
Lindford Road
Bordon
Hampshire
GU35 0JX

These financial statements were authorised for issue by the Board on 20 January 2025.

2

Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Highland Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

Plant and machinery

15% on reducing balance

Fixtures and fittings

15% 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 the profit and loss account.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

8,255

33,598

41,853

Additions

-

13,000

13,000

At 30 April 2024

8,255

46,598

54,853

Depreciation

At 1 May 2023

7,836

23,693

31,529

Charge for the year

63

3,436

3,499

At 30 April 2024

7,899

27,129

35,028

Carrying amount

At 30 April 2024

356

19,469

19,825

At 30 April 2023

419

9,905

10,324

 

Highland Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Investment properties

2024
£

At 1 May

600,000

Fair value adjustments

50,000

At 30 April

650,000

Investment property is shown at the most recent valuation.

6

debtors

2024
£

2023
£

Prepayments

1,716

844

1,716

844

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,290

1,156

Accruals and deferred income

3,755

3,625

Other creditors

922

985

6,967

5,766

8

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of Nil (2023 - 10,250.00) per each Ordinary shares

 

-

 

20,500

Interim dividend of 6,600.00 (2023 - 63,500.00) per each Ordinary A shares

 

6,600

 

63,500

Interim dividend of 6,600.00 (2023 - 60,000.00) per each Ordinary B shares

 

6,600

 

60,000

   

13,200

 

144,000