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REGISTERED NUMBER: 01426000 (England and Wales)















M. HIGGINS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2024






M. HIGGINS LIMITED (REGISTERED NUMBER: 01426000)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


M. HIGGINS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: I Higgins
D M Higgins
K P Higgins
K A Albone





REGISTERED OFFICE: Greenbank House
Finningley
Doncaster
South Yorkshire
DN9 3BZ





REGISTERED NUMBER: 01426000 (England and Wales)






M. HIGGINS LIMITED (REGISTERED NUMBER: 01426000)

ABRIDGED BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,595,551 2,034,629
Investments 5 300 300
2,595,851 2,034,929

CURRENT ASSETS
Stocks 1,431,730 1,742,526
Debtors 1,154,344 499,036
2,586,074 2,241,562
CREDITORS
Amounts falling due within one year 3,721,225 2,251,087
NET CURRENT LIABILITIES (1,135,151 ) (9,525 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,460,700

2,025,404

CREDITORS
Amounts falling due after more than one
year

76,626

1,518,867
NET ASSETS 1,384,074 506,537

CAPITAL AND RESERVES
Called up share capital 65,100 65,100
Revaluation reserve 7 488,869 654,625
Retained earnings 830,105 (213,188 )
SHAREHOLDERS' FUNDS 1,384,074 506,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

M. HIGGINS LIMITED (REGISTERED NUMBER: 01426000)

ABRIDGED BALANCE SHEET - continued
30 JUNE 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





K P Higgins - Director


M. HIGGINS LIMITED (REGISTERED NUMBER: 01426000)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

M. Higgins 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis as in the directors opinion this is the most appropriate basis for their preparation on the assumption of the ongoing support of the group's principal creditors, including its bankers and their overdraft facility.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost
Plant and machinery etc - 10% on cost and Straight line over 15 years

The directors consider that the estimated useful economic life of certain land and buildings exceeds 50 years; consequently, no depreciation has been charged. An impairment review is not required as an annual valuation of land and buildings is performed by the directors.

Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis. The cost of growing crops and finished goods includes all production overheads and depreciation and the attributable proportion of indirect overheads based on a normal level of activity. Net realisable value is based on estimated selling price less estimated cost of disposal.

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.

M. HIGGINS LIMITED (REGISTERED NUMBER: 01426000)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Reserves are adjusted to include the differences arising from the restatement of opening net assets at period end rates of exchange. All other gains and losses on exchange are included in the result on ordinary activities before taxation.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Investments
Investments are included at cost less provision for any impairment.

Research and development
Expenditure on research and development is written off in the period in which it is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 July 2023 2,938,645
Additions 900,712
Disposals (97,000 )
At 30 June 2024 3,742,357
DEPRECIATION
At 1 July 2023 904,016
Charge for year 174,891
Eliminated on disposal (68,101 )
Impairments 136,000
At 30 June 2024 1,146,806
NET BOOK VALUE
At 30 June 2024 2,595,551
At 30 June 2023 2,034,629

M. HIGGINS LIMITED (REGISTERED NUMBER: 01426000)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 June 2024 is represented by:

Totals
£   
Valuation in 2017 883,810
Cost 2,858,547
3,742,357

Freehold property was valued on an open market basis on 25 January 2018 by Peter Horne FRICS of Merryweathers on the 2 March 2018 by Guy Rusling FRICS of Guy Rusling commercial surveyors. Plant and machinery was revalued during the year ended 30 June 2017, by the directors, using a market value basis.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST OR VALUATION
At 1 July 2023 192,580
Additions 243,678
At 30 June 2024 436,258
DEPRECIATION
At 1 July 2023 6,420
Charge for year 20,647
At 30 June 2024 27,067
NET BOOK VALUE
At 30 June 2024 409,191
At 30 June 2023 186,160

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 July 2023
and 30 June 2024 300
NET BOOK VALUE
At 30 June 2024 300
At 30 June 2023 300

M. HIGGINS LIMITED (REGISTERED NUMBER: 01426000)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. FIXED ASSET INVESTMENTS - continued

Other Investments Class of Share Proportion Held Principal Activity

MIDAK LLP Ordinary 1% Land Rental

In the opinion of the directors, the aggregate value of the investments in subsidiary and associated undertakings and other investments is not less than the amounts shown in the balance sheet.

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 831,406 1,375,480
Bank loans 20,733 1,552,356
852,139 2,927,836

The loans and overdraft facilities provided by the company's bank are secured by debentures with the company and charges over land owned by the directors and shareholders.

7. RESERVES
Revaluation
reserve
£   
At 1 July 2023 654,625
Transfer (165,756 )

At 30 June 2024 488,869

8. RELATED PARTY DISCLOSURES

Included in debtors is a loan of £5,024 (2023: £77,571) due from Midak LLP, a partnership in which three of the directors have an interest.

Included in debtors is an amount of £30,789 (2023: £1,838) due from Bury Farm Partnership, a partnership in which the directors have an interest.

Included in debtors is £nil (2023: £10,849) due from one of the directors.

Included in other creditors is £1,680,694 (2023: nil) due to the directors. The loans have no formal repayment terms.