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REGISTERED NUMBER: 13748535 (England and Wales)















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: E Bland
W R Whymark



REGISTERED OFFICE: Unit 1, Lancaster Court
Coronation Road
Cressex Business Park
High Wycombe
Buckinghamshire
HP12 3TD



REGISTERED NUMBER: 13748535 (England and Wales)



SENIOR STATUTORY AUDITOR: S. Paramaguru (FCCA)



AUDITORS: Param & Company Limited
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 4 890,000 736,745

CURRENT ASSETS
Debtors 5 190,614 279,234
Cash at bank 13,395 -
204,009 279,234
CREDITORS
Amounts falling due within one year 6 598,052 590,196
NET CURRENT LIABILITIES (394,043 ) (310,962 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

495,957

425,783

CREDITORS
Amounts falling due after more than one
year

7

(382,448

)

(503,505

)

PROVISIONS FOR LIABILITIES (38,314 ) -
NET ASSETS/(LIABILITIES) 75,195 (77,722 )

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 9 153,255 -
Retained earnings (78,061 ) (77,723 )
75,195 (77,722 )

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

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 27th March 2025 and were signed on its behalf by:





E Bland - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 736,745
Revaluations 153,255
At 31st March 2024 890,000
NET BOOK VALUE
At 31st March 2024 890,000
At 31st March 2023 736,745

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 190,614 279,234

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 121,057 116,249
Trade creditors 1 -
Amounts owed to group undertakings 60,346 69,958
Taxation and social security 12,659 -
Other creditors 403,989 403,989
598,052 590,196

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 382,448 503,505

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 503,505 619,754

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 153,255

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

S. Paramaguru (FCCA) (Senior Statutory Auditor)
for and on behalf of Param & Company Limited

11. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is The Coin Group Limited, which prepared group financial statements