Registered number
02638365
Highscene Limited
Filleted Accounts
31 August 2024
Highscene Limited
Registered number: 02638365
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 171,724 228,964
Investments 4 4,433,792 3,310,988
4,605,516 3,539,952
Current assets
Debtors 5 - 172,175
Cash at bank and in hand 64,741 140,101
64,741 312,276
Creditors: amounts falling due within one year 6 (54,879) (118,376)
Net current assets 9,862 193,900
Net assets 4,615,378 3,733,852
Capital and reserves
Called up share capital 83 83
Capital redemption reserve 10 10
Fair value reserve 1,227,569 515,133
Profit and loss account 3,387,716 3,218,626
Shareholders' funds 4,615,378 3,733,852
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M D Olsson
Director
Approved by the board on 24 March 2025
Highscene Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover comprises interest and dividends receivable.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
Investment property is included at fair value. Any surplus or deficit on revaluation is dealt with through the profit and loss account. No depreciation is provided in respect of investment property.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 572,404
At 31 August 2024 572,404
Amortisation
At 1 September 2023 343,440
Provided during the year 57,240
At 31 August 2024 400,680
Net book value
At 31 August 2024 171,724
At 31 August 2023 228,964
The intangible fixed assets are being written off in equal annual instalments over their estimated economic life of 10 years.
4 Investments
Investments in
subsidiary Investment Other
undertakings Property investments Total
£ £ £ £
Cost
At 1 September 2023 507,277 2,803,711 3,310,988
Additions 795,261 87,386 - 882,647
Revaluation - - 748,607 748,607
Disposals - - (508,450) (508,450)
At 31 August 2024 1,302,538 87,386 3,043,868 4,433,792
5 Debtors 2024 2023
£ £
Other debtors - 172,175
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 54,879 118,376
7 Other information
Highscene Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Bonhill Street
London
EC2A 4DJ
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