REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 31st March 2024 |
for |
Highworth Close Limited |
REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 31st March 2024 |
for |
Highworth Close Limited |
Highworth Close Limited (Registered number: 13748535) |
Contents of the Financial Statements |
for the Year Ended 31st March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Highworth Close Limited |
Company Information |
for the Year Ended 31st March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
1st Floor |
44-50 The Broadway |
Southall |
Middlesex |
UB1 1QB |
Highworth Close Limited (Registered number: 13748535) |
Balance Sheet |
31st March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings | ( |
) | ( |
) |
( |
) |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Highworth Close Limited (Registered number: 13748535) |
Notes to the Financial Statements |
for the Year Ended 31st March 2024 |
1. | STATUTORY INFORMATION |
Highworth Close Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis as the directors feel that, following the year end, trade for this company will be significantly better and the company will be able to meet its financial commitments as and when they become due. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Highworth Close Limited (Registered number: 13748535) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2023 |
Revaluations | 153,255 |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Fair value at 31st March 2024 is represented by: |
£ |
Valuation in 2022 | 153,255 |
Cost | 736,745 |
890,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
31.3.24 | 31.3.23 |
£ | £ |
Cost | 736,745 | - |
Investment Property was valued on an open market basis on 22nd July 2022 by Aitchison Raffity . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Amounts owed by group undertakings |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
Highworth Close Limited (Registered number: 13748535) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
Included within bank loans is a loan from Shawbrook Bank Limited for £ 503,505 (2023: £619,754) which is secured over a first charge on the property asset of the company. This loan is subject to a five year term with a fixed rate interest charge of 4.06% for the term of the loan. |
9. | RESERVES |
Revaluation |
reserve |
£ |
Property Revaluation | 153,255 |
At 31st March 2024 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate parent undertaking is The Coin Group Limited, which prepared group financial statements |