Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-09-01falseNo description of principal activity68truefalse 04503770 2023-09-01 2024-08-31 04503770 2022-09-01 2023-08-31 04503770 2024-08-31 04503770 2023-08-31 04503770 c:Director1 2023-09-01 2024-08-31 04503770 d:FurnitureFittings 2023-09-01 2024-08-31 04503770 d:FurnitureFittings 2024-08-31 04503770 d:FurnitureFittings 2023-08-31 04503770 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04503770 d:ComputerEquipment 2023-09-01 2024-08-31 04503770 d:ComputerEquipment 2024-08-31 04503770 d:ComputerEquipment 2023-08-31 04503770 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04503770 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04503770 d:PatentsTrademarksLicencesConcessionsSimilar 2023-09-01 2024-08-31 04503770 d:PatentsTrademarksLicencesConcessionsSimilar 2024-08-31 04503770 d:PatentsTrademarksLicencesConcessionsSimilar 2023-08-31 04503770 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 04503770 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-08-31 04503770 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 04503770 d:CurrentFinancialInstruments 2024-08-31 04503770 d:CurrentFinancialInstruments 2023-08-31 04503770 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 04503770 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 04503770 d:ShareCapital 2024-08-31 04503770 d:ShareCapital 2023-08-31 04503770 d:RetainedEarningsAccumulatedLosses 2024-08-31 04503770 d:RetainedEarningsAccumulatedLosses 2023-08-31 04503770 c:FRS102 2023-09-01 2024-08-31 04503770 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 04503770 c:FullAccounts 2023-09-01 2024-08-31 04503770 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04503770 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 04503770









HIGHLIGHT PARKING SYSTEMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
HIGHLIGHT PARKING SYSTEMS LIMITED
REGISTERED NUMBER: 04503770

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,661
3,475

  
2,661
3,475

Current assets
  

Debtors: amounts falling due within one year
 6 
3,679
3,204

Cash at bank and in hand
  
192,940
223,807

  
196,619
227,011

Creditors: amounts falling due within one year
 7 
(130,932)
(78,434)

Net current assets
  
 
 
65,687
 
 
148,577

Total assets less current liabilities
  
68,348
152,052

  

Net assets
  
68,348
152,052


Capital and reserves
  

Called up share capital 
  
25,000
25,000

Profit and loss account
  
43,348
127,052

  
68,348
152,052


Page 1

 
HIGHLIGHT PARKING SYSTEMS LIMITED
REGISTERED NUMBER: 04503770
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 February 2025.




D Harrison
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HIGHLIGHT PARKING SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

The legal form of the entity is a private company limited by shares and is incorporated and domiciled in England and Wales (Registered number 04503770). The address of the company's registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated
current and forecasted operational results, and the solvency of the company. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
HIGHLIGHT PARKING SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Patents
-
10
years straight line
Development expenditure
-
5
years straight line

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the methods below.


Fixtures and fittings
-
20% reducing balance
Computer equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
HIGHLIGHT PARKING SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.



3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 8).

Page 5

 
HIGHLIGHT PARKING SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Intangible assets




Patents
Development costs
Total

£
£
£



Cost


At 1 September 2023
25,298
44,636
69,934



At 31 August 2024

25,298
44,636
69,934



Amortisation


At 1 September 2023
25,298
44,636
69,934



At 31 August 2024

25,298
44,636
69,934



Net book value



At 31 August 2024
-
-
-



At 31 August 2023
-
-
-



Page 6

 
HIGHLIGHT PARKING SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 September 2023
4,353
3,061
7,414



At 31 August 2024

4,353
3,061
7,414



Depreciation


At 1 September 2023
1,770
2,169
3,939


Charge for the year on owned assets
517
297
814



At 31 August 2024

2,287
2,466
4,753



Net book value



At 31 August 2024
2,066
595
2,661



At 31 August 2023
2,583
892
3,475


6.


Debtors

2024
2023
£
£


Prepayments and accrued income
3,679
3,204

3,679
3,204


Page 7

 
HIGHLIGHT PARKING SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,751
2,751

Corporation tax
19,358
18,692

Other taxation and social security
28,100
26,660

Other creditors
24,442
23,831

Accruals and deferred income
56,281
6,500

130,932
78,434



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,609 (2023 - £4,639). Contributions totalling £888 (2023 - £849) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 8