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Registration number: 08919930

Higher End Construction Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Higher End Construction Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Higher End Construction Limited

Company Information

Director

Mr Thomas William White

Registered office

17 Lea Green Business Park
Eurolink
St. Helens
WA9 4TR

Accountants

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Higher End Construction Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Higher End Construction Limited for the year ended 30 April 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Higher End Construction Limited, as a body, in accordance with the terms of our engagement letter dated 1 November 2022. Our work has been undertaken solely to prepare for your approval the accounts of Higher End Construction Limited and state those matters that we have agreed to state to the Board of Directors of Higher End Construction Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Higher End Construction Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Higher End Construction Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Higher End Construction Limited. You consider that Higher End Construction Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Higher End Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

28 January 2025

 

Higher End Construction Limited

(Registration number: 08919930)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

101,160

47,743

Current assets

 

Stocks

5

28,268

31,556

Debtors

6

671,356

668,551

Cash at bank and in hand

 

155,566

39,136

 

855,190

739,243

Creditors: Amounts falling due within one year

7

(616,252)

(419,228)

Net current assets

 

238,938

320,015

Total assets less current liabilities

 

340,098

367,758

Creditors: Amounts falling due after more than one year

7

(289,290)

(309,455)

Provisions for liabilities

(25,290)

(8,604)

Net assets

 

25,518

49,699

Capital and reserves

 

Called up share capital

8

200

110

Retained earnings

25,318

49,589

Shareholders' funds

 

25,518

49,699

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.

Director's 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 director acknowledges his 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 and the option not to file the Profit and Loss Account and Directors' Report has been taken.

 

Higher End Construction Limited

(Registration number: 08919930)
Balance Sheet as at 30 April 2024

Approved and authorised by the director on 28 January 2025
 

.........................................
Mr Thomas William White
Director

 

Higher End Construction 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.

The address of its registered office is:
17 Lea Green Business Park
Eurolink
St. Helens
WA9 4TR

These financial statements were authorised for issue by the director on 28 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.

The financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of construction services in the ordinary course of the company’s activities. Turnover is shown net of 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.

 

Higher End Construction Limited

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

Contract revenue recognition

When the outcome of construction contracts can be estimated reliably, contract revenue and contract costs are recognised as revenue and expenses respectively by reference to the stage of completion at the end of the reporting period. The stage of completion of contracts in progress is based on the proportion of costs incurred for work performed to date in relation to the estimated total costs. Reliable estimation of the outcome of construction contracts requires estimated of the stage of completion future costs and collectability of billings. When the outcome of a construction contract cannot be estimated reliably, revenue is only recognised to the extent of contract costs incurred that it is probable will be recoverable.

When it is probable that total contract costs will exceed total contract revenue on a construction contract, the expected loss shall be recognised as an expense immediately, with a corresponding provision for an onerous contract. Revenue in respect to variations to contracts is recognised when the variations have been agreed by the customer.

Where costs incurred plus recognised profits less recognised losses exceed progress billings, the balance is shown as amounts due from customers for contract work within debtors. Where progress billing exceed costs incurred plus recognised profits less recognised losses, the balance is show as due to customers on construction contracts within creditors.

Government grants

Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred or when any terms and conditions relating to the grant are satisfied. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets.

Grants received in advance are included within other creditors whilst those for which the conditions have been met and which are virtually certain to be received by the company are included in other debtors.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

 

Higher End Construction 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

Fixtures, fittings and equipment

15% reducing balance

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Higher End Construction Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 18 (2023 - 11).

 

Higher End Construction Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

11,827

65,070

14,243

91,140

Additions

-

81,148

-

81,148

At 30 April 2024

11,827

146,218

14,243

172,288

Depreciation

At 1 May 2023

7,575

26,091

9,731

43,397

Charge for the year

638

26,191

902

27,731

At 30 April 2024

8,213

52,282

10,633

71,128

Carrying amount

At 30 April 2024

3,614

93,936

3,610

101,160

At 30 April 2023

4,252

38,979

4,512

47,743

5

Stocks

2024
£

2023
£

Raw materials and consumables

28,268

31,556

6

Debtors

Current

2024
£

2023
£

Trade debtors

280,703

280,318

Prepayments

2,314

5,634

Other debtors

388,339

382,599

 

671,356

668,551

 

Higher End Construction Limited

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

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

90,369

75,842

Trade creditors

 

285,749

150,208

Taxation and social security

 

150,484

81,945

Accruals and deferred income

 

3,631

3,621

Other creditors

 

86,019

107,612

 

616,252

419,228

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

289,290

309,455

Included within loans and borrowings less than one year is £49,455 (2023: £49,453 ), and loans and borrowings greater than one year is £53,943 (2023: £103,397). This relates to commercial loans which are secured by way of a fixed and floating charge and negative pledge and also a limited guarantee from the director.

Included within loans and borrowings less than one year is £16,034 (2023: £5,505), and loans and borrowings greater than one year is £82,691 (2023: £28,521). This relates to hire purchase finance agreements which are secured by a fixed charge over the assets to which they relate.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

Ordinary A of £1 each

5

5

5

5

Ordinary B of £1 each

5

5

5

5

110

110

110

110