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COMPANY REGISTRATION NUMBER: 09000506
Highborne Limited
Filleted Unaudited Financial Statements
30 April 2024
Highborne Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Highborne Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
40,776
42,507
Investments
6
101
101
--------
--------
40,877
42,608
Current assets
Debtors
7
256,482
76,914
Cash at bank and in hand
7,259
3,263
---------
--------
263,741
80,177
Creditors: amounts falling due within one year
8
215,968
26,791
---------
--------
Net current assets
47,773
53,386
--------
--------
Total assets less current liabilities
88,650
95,994
Creditors: amounts falling due after more than one year
9
88,649
95,024
--------
--------
Net assets
1
970
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
969
----
----
Shareholders funds
1
970
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Highborne Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 28 January 2025 , and are signed on behalf of the board by:
Mr J E P Eldridge
Director
Company registration number: 09000506
Highborne Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Plant and machinery
-
20% reducing balance
Equipment
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Freehold property
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 1 May 2023 and 30 April 2024
43,837
2,733
7,445
54,015
--------
-------
-------
--------
Depreciation
At 1 May 2023
6,165
2,336
3,007
11,508
Charge for the year
877
80
774
1,731
--------
-------
-------
--------
At 30 April 2024
7,042
2,416
3,781
13,239
--------
-------
-------
--------
Carrying amount
At 30 April 2024
36,795
317
3,664
40,776
--------
-------
-------
--------
At 30 April 2023
37,672
397
4,438
42,507
--------
-------
-------
--------
6. Investments
Shares in group undertakings
£
Cost
At 1 May 2023 and 30 April 2024
101
----
Impairment
At 1 May 2023 and 30 April 2024
----
Carrying amount
At 30 April 2024
101
----
At 30 April 2023
101
----
7. Debtors
2024
2023
£
£
Other debtors
256,482
76,914
---------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,192
6,484
Trade creditors
510
510
Social security and other taxes
1,633
718
Other creditors
207,633
19,079
---------
--------
215,968
26,791
---------
--------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
88,649
95,024
--------
--------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.
10. Director's advances, credits and guarantees
At the year end a director owed the company £101,480 (2023: £58,700). During the year advances of £78,127 were made to a director and a director made repayments of £36,748. Interest of £1,402 was charged on the overdrawn amount.