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REGISTERED NUMBER: 01632933 (England and Wales)


















HIGHWAY & INDUSTRIAL EQUIPMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






HIGHWAY & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01632933)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HIGHWAY & INDUSTRIAL EQUIPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: P H Williams





SECRETARY: K L Williams





REGISTERED OFFICE: Elfed House
Oak Tree Court, Mulberry Drive
Cardiff Gate Business Park
CARDIFF
CF23 8RS





REGISTERED NUMBER: 01632933 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

HIGHWAY & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01632933)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,500 3,000
Tangible assets 5 59,865 57,242
Investments 6 18,681 16,384
80,046 76,626

CURRENT ASSETS
Stocks 111,210 115,224
Debtors 7 54,849 60,173
Cash at bank and in hand 7,305 20,683
173,364 196,080
CREDITORS
Amounts falling due within one year 8 (70,428 ) (52,518 )
NET CURRENT ASSETS 102,936 143,562
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,982

220,188

PROVISIONS FOR LIABILITIES (1,740 ) (4,052 )
NET ASSETS 181,242 216,136

CAPITAL AND RESERVES
Called up share capital 9 6,115 6,115
Capital redemption reserve 48,885 48,885
Retained earnings 126,242 161,136
SHAREHOLDERS' FUNDS 181,242 216,136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 April 2025 and were signed by:



P H Williams - Director


HIGHWAY & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01632933)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Highway & Industrial Equipment 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There have been no material departures from Financial Reporting Standard 102 Section 1A.

Turnover
Turnover represents net invoiced sales of highway and industrial clothing, footwear, signage and related products excluding value added tax.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property- 2% - 2.5% straight line
Motor vehicles- 25% on reducing balance
Plant and machinery- 10% straight line
Equipment and fixtures- 20% on reducing balance

Intangible fixed assets
Intangible fixed assets are initially measured at cost. After initial recognition, intangible fixed assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is provided at the following annual rate in order to write off each asset over its estimated useful life.

Copyright- 5% straight line

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.


HIGHWAY & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01632933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution scheme for employees and directors. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the Profit and Loss Account.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Investments
Listed investments are stated at fair value based on the share price at the year end.

Unlisted investments are stated at cost less any provision required for diminution in value.

Non-derivative financial instruments
Basic financial instruments are recognised at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Copyright
£   
COST
At 1 June 2023
and 31 May 2024 30,000
AMORTISATION
At 1 June 2023 27,000
Amortisation for year 1,500
At 31 May 2024 28,500
NET BOOK VALUE
At 31 May 2024 1,500
At 31 May 2023 3,000

HIGHWAY & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01632933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. TANGIBLE FIXED ASSETS
Equipment
Land and Plant and Motor and
Property machinery vehicles fixtures Totals
£    £    £    £    £   
COST
At 1 June 2023 153,363 25,355 16,230 112,597 307,545
Additions - - - 7,950 7,950
Disposals - - - (7,350 ) (7,350 )
At 31 May 2024 153,363 25,355 16,230 113,197 308,145
DEPRECIATION
At 1 June 2023 102,667 25,355 15,716 106,565 250,303
Charge for year 3,132 - 129 2,014 5,275
Eliminated on disposal - - - (7,298 ) (7,298 )
At 31 May 2024 105,799 25,355 15,845 101,281 248,280
NET BOOK VALUE
At 31 May 2024 47,564 - 385 11,916 59,865
At 31 May 2023 50,696 - 514 6,032 57,242

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 June 2023 17,522
Revaluations 2,093
Dividends received 210
At 31 May 2024 19,825
PROVISIONS
At 1 June 2023 1,138
Provision for year 6
At 31 May 2024 1,144
NET BOOK VALUE
At 31 May 2024 18,681
At 31 May 2023 16,384

Cost or valuation at 31 May 2024 is represented by:

Other
investments
£   
Valuation in 2024 11,575
Cost 8,250
19,825

HIGHWAY & INDUSTRIAL EQUIPMENT LIMITED (REGISTERED NUMBER: 01632933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 52,521 58,969
Social security and other tax 122 953
Prepayments and accrued income 2,206 251
54,849 60,173

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 41,684 32,269
Corporation tax - 2,011
VAT 3,025 8,256
Director's current account 20,977 3,452
Accruals and deferred income 4,742 6,530
70,428 52,518

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
6,115 Ordinary £1 6,115 6,115