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Company No: 09411888 (England and Wales)

HIGHFIELD CONSTRUCTION AND MAINTENANCE LTD

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

HIGHFIELD CONSTRUCTION AND MAINTENANCE LTD

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

HIGHFIELD CONSTRUCTION AND MAINTENANCE LTD

COMPANY INFORMATION

For the financial year ended 31 January 2024
HIGHFIELD CONSTRUCTION AND MAINTENANCE LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTOR Mr M P Morgan
REGISTERED OFFICE Highfield Farm North End
Creech St. Michael
Taunton
TA3 5ED
United Kingdom
COMPANY NUMBER 09411888 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
HIGHFIELD CONSTRUCTION AND MAINTENANCE LTD

BALANCE SHEET

As at 31 January 2024
HIGHFIELD CONSTRUCTION AND MAINTENANCE LTD

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,762 1,202
1,762 1,202
Current assets
Debtors 4 63,293 46,269
Cash at bank and in hand 2,442 3,054
65,735 49,323
Creditors: amounts falling due within one year 5 ( 37,648) ( 28,641)
Net current assets 28,087 20,682
Total assets less current liabilities 29,849 21,884
Net assets 29,849 21,884
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 29,749 21,784
Total shareholders' funds 29,849 21,884

For the financial year ending 31 January 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 financial statements of Highfield Construction and Maintenance Ltd (registered number: 09411888) were approved and authorised for issue by the Director on 31 January 2025. They were signed on its behalf by:

Mr M P Morgan
Director
HIGHFIELD CONSTRUCTION AND MAINTENANCE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
HIGHFIELD CONSTRUCTION AND MAINTENANCE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Highfield Construction and Maintenance Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Highfield Farm North End, Creech St. Michael, Taunton, TA3 5ED, England, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

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 value added tax, returns, rebates and discounts. Turnover is recognised when services have been provided.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 20 % reducing balance
Office equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 1

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 February 2023 1,913 5,913 250 8,076
Additions 959 0 0 959
Disposals 0 ( 4,833) 0 ( 4,833)
At 31 January 2024 2,872 1,080 250 4,202
Accumulated depreciation
At 01 February 2023 874 5,913 87 6,874
Charge for the financial year 345 0 54 399
Disposals 0 ( 4,833) 0 ( 4,833)
At 31 January 2024 1,219 1,080 141 2,440
Net book value
At 31 January 2024 1,653 0 109 1,762
At 31 January 2023 1,039 0 163 1,202

4. Debtors

2024 2023
£ £
Trade debtors 7,164 20,368
CIS suffered 31,903 25,417
Other debtors 24,226 484
63,293 46,269

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 9,010 4,507
Taxation and social security 21,488 14,291
Other creditors 7,150 9,843
37,648 28,641

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Opening balance 0 20,691
Advances 28,450 15,010
Repayments (10,340) (35,701)
Closing balance 18,110 0

Interest is charged on the loan at 2.25% and is repayable on demand