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REGISTERED NUMBER: 02906447 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

HIGH FIRE LIMITED

HIGH FIRE LIMITED (REGISTERED NUMBER: 02906447)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGH FIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr R J Lehane
Mr S R Williams
Mrs R C Williams





SECRETARY: Mrs R C Williams





REGISTERED OFFICE: 161 Scudamore Road
Leicester
Leicestershire
LE3 1UQ





REGISTERED NUMBER: 02906447 (England and Wales)

HIGH FIRE LIMITED (REGISTERED NUMBER: 02906447)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 110,765 104,878

CURRENT ASSETS
Stocks 41,115 28,833
Debtors 5 138,168 217,883
Cash at bank 33,210 29,434
212,493 276,150
CREDITORS
Amounts falling due within one year 6 182,046 239,526
NET CURRENT ASSETS 30,447 36,624
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,212

141,502

CREDITORS
Amounts falling due after more than one
year

7

(1,956

)

(16,270

)

PROVISIONS FOR LIABILITIES (11,380 ) (8,821 )
NET ASSETS 127,876 116,411

CAPITAL AND RESERVES
Called up share capital 10,157 10,157
Retained earnings 117,719 106,254
SHAREHOLDERS' FUNDS 127,876 116,411

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

HIGH FIRE LIMITED (REGISTERED NUMBER: 02906447)

BALANCE SHEET - continued
31 JULY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 April 2025 and were signed on its behalf by:




Mr R J Lehane - Director Mr S R Williams - Director




Mrs R C Williams - Director


HIGH FIRE LIMITED (REGISTERED NUMBER: 02906447)

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


1. STATUTORY INFORMATION

High Fire 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Revenue comprises the fair value for the sale of goods excluding value added taxes and represents net invoice value less estimated rebates, returns and settlement discounts. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on dispatch of the goods.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

HIGH FIRE LIMITED (REGISTERED NUMBER: 02906447)

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


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Hire purchase and leased assets
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2023 76,619 90,425 197,041 364,085
Additions - 6,906 24,495 31,401
At 31 July 2024 76,619 97,331 221,536 395,486
DEPRECIATION
At 1 August 2023 75,461 63,631 120,115 259,207
Charge for year 174 5,055 20,285 25,514
At 31 July 2024 75,635 68,686 140,400 284,721
NET BOOK VALUE
At 31 July 2024 984 28,645 81,136 110,765
At 31 July 2023 1,158 26,794 76,926 104,878

HIGH FIRE LIMITED (REGISTERED NUMBER: 02906447)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2023
and 31 July 2024 101,962
DEPRECIATION
At 1 August 2023 52,574
Charge for year 9,877
At 31 July 2024 62,451
NET BOOK VALUE
At 31 July 2024 39,511
At 31 July 2023 49,388

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 133,103 213,015
Other debtors 5,065 4,868
138,168 217,883

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 14,314 15,299
Trade creditors 37,680 44,050
Amounts owed to group undertakings - 15,000
Taxation and social security 63,636 103,825
Other creditors 66,416 61,352
182,046 239,526

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 1,956 16,270

HIGH FIRE LIMITED (REGISTERED NUMBER: 02906447)

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


8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 14,314 15,299
Between one and five years 1,956 16,270
16,270 31,569

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 16,270 31,569

10. PENSION SCHEME

The company operates defined contribution pension schemes for the benefit of all employees. The assets of the schemes are administered by trustees in funds independent from those of the company.

The total contributions paid in the year amounted to £43,774 (2023 - £38,450).