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REGISTERED NUMBER: 03727785 (England and Wales)















HIGHFIELD PRODUCTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2024






HIGHFIELD PRODUCTS LIMITED (REGISTERED NUMBER: 03727785)

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


HIGHFIELD PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: C M Sprenger
J A L Sprenger
R A Sprenger





SECRETARY: C M Sprenger





REGISTERED OFFICE: Highfield Place
Shaw Wood Business Park
Shaw Wood Way
Doncaster
South Yorkshire
DN2 5TB





REGISTERED NUMBER: 03727785 (England and Wales)






HIGHFIELD PRODUCTS LIMITED (REGISTERED NUMBER: 03727785)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 419,071 24,509
419,071 24,509

CURRENT ASSETS
Stocks 282,107 236,901
Debtors 6 486,448 1,792,694
Cash at bank and in hand 654,420 339,966
1,422,975 2,369,561
CREDITORS
Amounts falling due within one year 7 1,639,797 1,662,849
NET CURRENT (LIABILITIES)/ASSETS (216,822 ) 706,712
TOTAL ASSETS LESS CURRENT
LIABILITIES

202,249

731,221

PROVISIONS FOR LIABILITIES - 1,935
NET ASSETS 202,249 729,286

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 202,149 729,186
SHAREHOLDERS' FUNDS 202,249 729,286

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.

HIGHFIELD PRODUCTS LIMITED (REGISTERED NUMBER: 03727785)

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 24 April 2025 and were signed on its behalf by:





C M Sprenger - Director


HIGHFIELD PRODUCTS LIMITED (REGISTERED NUMBER: 03727785)

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


1. STATUTORY INFORMATION

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% Reducing Balance and 25% Straight Line
Fixtures and fittings - 25% Reducing Balance and 25% Straight Line
Motor vehicles - 20% Straight Line
Office Equipment - 33% Straight Line

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

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.

HIGHFIELD PRODUCTS LIMITED (REGISTERED NUMBER: 03727785)

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


2. ACCOUNTING POLICIES - continued

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


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 60,000
AMORTISATION
At 1 August 2023
and 31 July 2024 60,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

HIGHFIELD PRODUCTS LIMITED (REGISTERED NUMBER: 03727785)

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


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 11,051 297,695 308,746
Additions - 479,925 479,925
Disposals - (23,676 ) (23,676 )
At 31 July 2024 11,051 753,944 764,995
DEPRECIATION
At 1 August 2023 - 284,237 284,237
Charge for year - 84,902 84,902
Eliminated on disposal - (23,215 ) (23,215 )
At 31 July 2024 - 345,924 345,924
NET BOOK VALUE
At 31 July 2024 11,051 408,020 419,071
At 31 July 2023 11,051 13,458 24,509

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,441 14,896
Other debtors 471,007 1,777,798
486,448 1,792,694

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 280,842 134,394
Taxation and social security 204,582 200,551
Other creditors 1,154,373 1,327,904
1,639,797 1,662,849

8. CONTINGENT LIABILITIES

The company together with Highfield Products Limited and Highfield Elearning Limited have given Barclays Bank plc a cross guarantee and debenture between the company and 1SPR Limited. As at 31 July 2024 the amount of bank borrowing was £1,801,994 (2023; £3,022,221).

9. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £155,031 (2023: £225,394).

HIGHFIELD PRODUCTS LIMITED (REGISTERED NUMBER: 03727785)

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


10. RELATED PARTY DISCLOSURES

Amounts due by companies under common control of the directors £165,860 (2023: £1,562,954).
Amounts due to companies under common control of the directors £1,058,881 (2023: £1,223,351).
The loans are interest free with no set repayment date.