IRIS Accounts Production v25.1.0.734 06478925 Board of Directors 1.8.23 31.7.24 31.7.24 Medium entities food hygiene and compliance and that of safety training. true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh064789252023-07-31064789252024-07-31064789252023-08-012024-07-31064789252022-07-31064789252022-08-012023-07-31064789252023-07-3106478925ns15:EnglandWales2023-08-012024-07-3106478925ns14:PoundSterling2023-08-012024-07-3106478925ns10:Director12023-08-012024-07-3106478925ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3106478925ns10:MediumEntities2023-08-012024-07-3106478925ns10:Audited2023-08-012024-07-3106478925ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-08-012024-07-3106478925ns10:Medium-sizedCompaniesRegimeForAccounts2023-08-012024-07-3106478925ns10:FullAccounts2023-08-012024-07-310647892512023-08-012024-07-3106478925ns10:OrdinaryShareClass12023-08-012024-07-3106478925ns10:Director22023-08-012024-07-3106478925ns10:Director32023-08-012024-07-3106478925ns10:CompanySecretary12023-08-012024-07-3106478925ns10:RegisteredOffice2023-08-012024-07-3106478925ns5:CurrentFinancialInstruments2024-07-3106478925ns5:CurrentFinancialInstruments2023-07-3106478925ns5:Non-currentFinancialInstruments2024-07-3106478925ns5:Non-currentFinancialInstruments2023-07-3106478925ns5:ShareCapital2024-07-3106478925ns5:ShareCapital2023-07-3106478925ns5:RetainedEarningsAccumulatedLosses2024-07-3106478925ns5:RetainedEarningsAccumulatedLosses2023-07-3106478925ns5:ShareCapital2022-07-3106478925ns5:RetainedEarningsAccumulatedLosses2022-07-3106478925ns5:RetainedEarningsAccumulatedLosses2022-08-012023-07-3106478925ns5:RetainedEarningsAccumulatedLosses2023-08-012024-07-310647892512023-08-012024-07-310647892512022-08-012023-07-3106478925ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3106478925ns5:ComputerSoftware2023-08-012024-07-3106478925ns5:PlantMachinery2023-08-012024-07-3106478925ns5:FurnitureFittings2023-08-012024-07-3106478925ns5:MotorVehicles2023-08-012024-07-3106478925ns5:ComputerEquipment2023-08-012024-07-3106478925ns15:UnitedKingdom2023-08-012024-07-3106478925ns15:UnitedKingdom2022-08-012023-07-3106478925ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2023-08-012024-07-3106478925ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2022-08-012023-07-3106478925ns10:HighestPaidDirector2023-08-012024-07-3106478925ns10:HighestPaidDirector2022-08-012023-07-3106478925ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-08-012024-07-3106478925ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-08-012023-07-3106478925ns5:OwnedAssets2023-08-012024-07-3106478925ns5:OwnedAssets2022-08-012023-07-3106478925ns5:ComputerSoftware2022-08-012023-07-3106478925ns5:ComputerSoftware2023-07-3106478925ns5:ComputerSoftware2024-07-3106478925ns5:ComputerSoftware2023-07-3106478925ns5:PlantMachinery2023-07-3106478925ns5:FurnitureFittings2023-07-3106478925ns5:MotorVehicles2023-07-3106478925ns5:ComputerEquipment2023-07-3106478925ns5:PlantMachinery2024-07-3106478925ns5:FurnitureFittings2024-07-3106478925ns5:MotorVehicles2024-07-3106478925ns5:ComputerEquipment2024-07-3106478925ns5:PlantMachinery2023-07-3106478925ns5:FurnitureFittings2023-07-3106478925ns5:MotorVehicles2023-07-3106478925ns5:ComputerEquipment2023-07-3106478925ns5:CostValuationns5:ListedExchangeTraded2023-07-3106478925ns5:ListedExchangeTradedns5:DisposalsRepaymentsInvestments2024-07-3106478925ns5:CostValuationns5:ListedExchangeTraded2024-07-3106478925ns5:ListedExchangeTraded2024-07-3106478925ns5:ListedExchangeTraded2023-07-3106478925ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3106478925ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3106478925ns5:WithinOneYear2024-07-3106478925ns5:WithinOneYear2023-07-3106478925ns5:BetweenOneFiveYears2024-07-3106478925ns5:BetweenOneFiveYears2023-07-3106478925ns5:MoreThanFiveYears2024-07-3106478925ns5:MoreThanFiveYears2023-07-3106478925ns5:AllPeriods2024-07-3106478925ns5:AllPeriods2023-07-3106478925ns5:DeferredTaxation2023-07-3106478925ns5:DeferredTaxation2023-08-012024-07-3106478925ns5:DeferredTaxation2024-07-3106478925ns10:OrdinaryShareClass12024-07-3106478925ns5:RetainedEarningsAccumulatedLosses2023-07-31
REGISTERED NUMBER: 06478925 (England and Wales)















HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

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










Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







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





SECRETARY: J A L Sprenger





REGISTERED OFFICE: Highfield ICON
First Point
Balby Carr Bank
Doncaster
South Yorkshire
DN4 5JQ





REGISTERED NUMBER: 06478925 (England and Wales)





INDEPENDENT AUDITORS: Xeinadin Audit Limited
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024


The directors present their strategic report for the year ended 31 July 2024.

REVIEW OF BUSINESS
Highfield has been presented with the Kings Award for International Trade in 2024 which is one of the most prestigious business accolades in the UK. Highfield also won the Doncaster Chamber of Commerce, large business of the year award with Chairman Richard Sprenger being presented with the 2024 Lifetime achievement award.

Highfield are a global leader in compliance and work-based learning and apprenticeship qualifications and one of the UK’s most recognisable awarding organisations. As such we are Regulated by Ofqual,Qualifications Wales, SQA Accreditation, the Council for the Curriculum, Examinations and Assessment (CCEA), and the Security Industry Authority (SIA). In addition to this, we are also a government-regulated end-point assessment organisation (EPAO). As an awarding organisation we have developed 600+ qualifications designed to enhance the career prospects of learners. These qualifications are now delivered by over 47,000 trainers and training providers spread across 100 countries. They cover multiple sectors such as retail, health and social care, finance, customer service, rail and engineering, hospitality, logistics, aviation and many more.

RESULTS AND PERFORMANCE
We have had a strong year enjoying a 10% increase in turnover.

BUSINESS ENVIRONMENT
The Qualification and Apprenticeship industries are highly competitive, particularly in the sectors where our business is focused. Of the 150 competitors in the market, Highfield sit in the top 5, all 5 of the leading organisations have a broad coverage of subject areas. Of the leading Awarding Organisations Highfield is the only family business. This year we have been 2nd in the overall list of qualifications, published quarterly by the qualification regulators.

There are several reasons for our success:

i) Ability to remain Agile and make quick decisions in a market that is constantly changing.

ii) Development and adaption of systems. Highfield has their own Internal IT development team which allows us to provide customised systems.

iii) Complete focus on customer service, it truly is at the heart of everything than we do.

iv) Complete one stop shop solution including qualifications, End Point Assessment, quality products, e-assessment, remote invigilation, e-portfolio, and customised systems.

v) Significant growth in the Apprenticeship market.

vi) Creating a digital first strategy

vii) As one of world leaders in his field, our chairman leads by example.

vii) An exceptionally talented and experienced Board and Senior Management Team.

STRATEGY
The Company's success is dependent on the astute selection, pricing, and ongoing management of the risks it accepts.


HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024

In the Qualifications market, we have continued to consolidate our position. We believe it is important to retain a diversified portfolio of risks in order to achieve maximum profitability in this highly competitive marketplace. As the work-based learning business diminished we were at the forefront regarding entry in the replacement market in Apprenticeships. We engaged the best people available in the market to lead this team and invested heavily in the right technology to support our offer. Our introduction of a market leading digital product range to support the apprenticeships has given us an excellent USP over our competitors.

We are the only Awarding Organisation with a significant internal systems development team, this allows us to provide the most customer focused systems in the market.

The Company will continue to consolidate its position and concentrate its efforts on achieving maximum growth in its existing market segments. Highfield will continue to drive efficiencies particularly in the Apprenticeship market.

Health and Well-being is especially important to us and this year we have made some key decisions re the future of our business:

1) We have launched a café which focuses on healthy eating
2) We have launched several health and wellbeing groups including menopause awareness.
3) We have added solar panels to our Head Office and Distribution Centre.
4) We offer in-house gym facilities (including weekends), personal training and flexible working.

KEY PERFORMANCE INDICATORS ('KPIs')
The Board monitors the progress of the Company by reference to the following KPIs:

- Staff
- Accuracy of sales and distribution
- Turnover
- Profitability
- Sector pass rate
- Regulatory requirements
- Customer satisfaction


HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The process of risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. All policies are subject to Board approval and ongoing review by management. We are also ISO 9001, ISO27001 and ISO17024 accredited.

Compliance with regulation, legal and ethical standards is a high priority for the Company and the compliance team and finance department take on an important oversight role in this regard. The Company has developed a framework for identifying the risks that each business sector, and the Company as a whole, is exposed to and their impact on economic equity. Any risks that become ‘issues’ are dealt with
expeditiously.
The principal risks from our business arise from:

i) Meeting regulatory requirements - Highfield have an excellent relationship with all our regulating bodies and are often mentioned as market leading in these areas. We sit on many of the key forums and ensure that we are always well placed to adapt to any regulatory changes.

ii) Government policy change - Although always a risk, all the government parties are extremely supportive of the apprenticeship market and vocational qualifications. We have a large range of qualifications across many sectors, this diminishes the risk if one of these sectors is affected by policy change.

iii) Improved competitor performance - we must ensure that we improve in all of the key areas of customers service, product development, qualification development and system provision. We have a senior team that is extremely agile and have developed a noticeably clear strategy to concentrate on key areas that will allow us to continue to grow and increase market share.

Highfield has worked hard over the past 17 years to diversify into many new areas giving us a broad range of products and services. This has been key to growth, however, also to mitigating risk so we are not dependent on a small number of areas of potential failure.

FUTURE DEVELOPMENTS
The directors look forward to building on the historic growth and profitability that the Company has achieved and continue to seek new opportunities to benefit the business. We will continue to support digital solutions and are very well placed to embrace the opportunities arising online. We have launched
an AI focus group which is targeting the key areas of Qual development, Product development, marking
and digital solutions.

We are also very keen to explore further opportunities in the Middle East, particularly in Saudi Arabia.

ON BEHALF OF THE BOARD:





C M Sprenger - Director


24 April 2025

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2024


The directors present their Report with the financial statement of Company for the year ended 31 July 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 July 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2023 to the date of this report.

J A L Sprenger
C M Sprenger
R A Sprenger

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C M Sprenger - Director


24 April 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED


Opinion
We have audited the financial statements of Highfield Awarding Body for Compliance Limited (the 'company') for the year ended 31 July 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 July 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Company, we identified that the principal risks of non-compliance with laws and regulations related to corporation tax legislation and we considered the extent to which non-compliance might have a material effect on the financial statements.

As part of this assessment we considered both quantitative and qualitative factors. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and FRS 102.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements which included the risk of management override of controls. We determined that the principal risks were related to posting inappropriate journal entries, omitting, advancing or delaying recognition of events and transactions that have occurred during or after the reporting period, and potential management bias in the determination of accounting estimates or judgements to manipulate results.

Audit procedures performed by the engagement team include:

- Enquiring of and obtaining written representation from management in relation to known or suspected instances of
non-compliance with laws and regulations and fraud;
- Enquiring of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and
regulations;
- Evaluation of management's controls designed to prevent and detect irregularities;
- Review of board meeting minutes and meetings of those charged with governance;
- Identifying and, where relevant, testing journal entries posted by senior management or with unusual combinations;
- Assessing and evaluating the business rationale of significant transactions outside the normal course of business;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations;
- Review of correspondence with regulators in so far as they are related to the financial statements;
- Incorporating elements of unpredictability into the nature, timing and/or extent of audit procedures performed.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kelvin Fitton BA FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

29 April 2025

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £   

TURNOVER 3 19,871,851 18,428,826

Cost of sales 2,776,071 2,666,321
GROSS PROFIT 17,095,780 15,762,505

Administrative expenses 15,931,393 15,110,715
1,164,387 651,790

Other operating income 98,515 463,736
OPERATING PROFIT 5 1,262,902 1,115,526

Interest receivable and similar income 72,071 14,508
1,334,973 1,130,034
Amounts written off investments 6 (46,906 ) (52,970 )
1,381,879 1,183,004

Interest payable and similar expenses 7 2,603 -
PROFIT BEFORE TAXATION 1,379,276 1,183,004

Tax on profit 8 347,509 215,472
PROFIT FOR THE FINANCIAL YEAR 1,031,767 967,532

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,031,767 967,532


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,031,767

967,532

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 9 177,381 118,922
Tangible assets 10 747,677 502,791
Investments 11 - 997,816
Investment property 12 982,379 982,379
1,907,437 2,601,908

CURRENT ASSETS
Stocks 13 61,525 66,878
Debtors 14 5,560,296 4,033,761
Cash at bank and in hand 5,004,824 4,071,613
10,626,645 8,172,252
CREDITORS
Amounts falling due within one year 15 2,673,235 3,938,265
NET CURRENT ASSETS 7,953,410 4,233,987
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,860,847

6,835,895

CREDITORS
Amounts falling due after more than one year 16 (3,500,651 ) (1,566,667 )

PROVISIONS FOR LIABILITIES 18 (147,311 ) (88,110 )
NET ASSETS 6,212,885 5,181,118

CAPITAL AND RESERVES
Called up share capital 19 100 100
Retained earnings 20 6,212,785 5,181,018
SHAREHOLDERS' FUNDS 6,212,885 5,181,118

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 AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2022 100 4,213,486 4,213,586

Changes in equity
Total comprehensive income - 967,532 967,532
Balance at 31 July 2023 100 5,181,018 5,181,118

Changes in equity
Total comprehensive income - 1,031,767 1,031,767
Balance at 31 July 2024 100 6,212,785 6,212,885

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (1,227,393 ) 1,243,420
Interest paid (2,603 ) -
Tax paid (224,088 ) (249,840 )
Net cash from operating activities (1,454,084 ) 993,580

Cash flows from investing activities
Purchase of intangible fixed assets (144,789 ) (64,277 )
Purchase of tangible fixed assets (476,561 ) (317,928 )
Sale of fixed asset investments 1,044,722 13,634
Other Finance Investments cost (46,906 ) (52,859 )
Interest received 72,071 14,508
Net cash from investing activities 448,537 (406,922 )

Cash flows from financing activities
Loans introduced/(repaid) in 1,938,758 (970,519 )
Net cash from financing activities 1,938,758 (970,519 )

Increase/(decrease) in cash and cash equivalents 933,211 (383,861 )
Cash and cash equivalents at beginning of
year

2

4,071,613

4,455,474

Cash and cash equivalents at end of year 2 5,004,824 4,071,613

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 1,379,276 1,183,004
Depreciation charges 316,457 177,452
Loss on disposal of fixed assets 1,553 1,675
Finance costs 2,603 -
Finance income (72,071 ) (14,508 )
1,627,818 1,347,623
Decrease/(increase) in stocks 5,353 (7,464 )
Increase in trade and other debtors (1,526,535 ) (860,532 )
(Decrease)/increase in trade and other creditors (1,334,029 ) 763,793
Cash generated from operations (1,227,393 ) 1,243,420

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 July 2024
31/7/24 1/8/23
£    £   
Cash and cash equivalents 5,004,824 4,071,613
Year ended 31 July 2023
31/7/23 1/8/22
£    £   
Cash and cash equivalents 4,071,613 4,455,474


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/8/23 Cash flow At 31/7/24
£    £    £   
Net cash
Cash at bank and in hand 4,071,613 933,211 5,004,824
4,071,613 933,211 5,004,824
Total 4,071,613 933,211 5,004,824

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

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


1. STATUTORY INFORMATION

Highfield Awarding Body for Compliance 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 statement have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Companies Act 2006. The financial statements have been prepared a going concern basis, under the historical cost convention.

The financial statements are presented in Sterling (GBP) which is the functional currency of the Company, rounded to the nearest £1.

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

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

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - Straight line over 3 years

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.

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.


HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

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

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


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.

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.

Listed investments
Investments in listed company shares are remeasured to market value at each Balance Sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 17,699,562 16,184,027
Middle East 2,172,289 2,244,799
19,871,851 18,428,826

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

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


4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 11,167,371 10,874,325
Social security costs 680,362 593,616
Other pension costs 543,751 472,609
12,391,484 11,940,550

The average number of employees during the year was as follows:
2024 2023

Operational 26 29
Dubai 23 23
IT 21 15
Administration 155 143
225 210

2024 2023
£    £   
Directors' remuneration 3,468,572 3,909,459
Directors' pension contributions to money purchase schemes 15,030 15,030

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 3,194,073 3,694,073

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

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


5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 3,257 4,403
Other operating leases 492,427 423,663
Depreciation - owned assets 230,122 136,530
Loss on disposal of fixed assets 1,553 1,675
Computer software amortisation 86,330 40,924
Auditors' remuneration 6,100 5,500
Foreign exchange differences 29,256 21,619

6. AMOUNTS WRITTEN OFF INVESTMENTS
2024 2023
£    £   
Movement in investment (46,906 ) (52,970 )

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Other interest 2,603 -

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 287,776 202,585
Withholding tax 532 (3,753 )
Total current tax 288,308 198,832

Deferred tax 59,201 16,640
Tax on profit 347,509 215,472

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

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


8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,379,276 1,183,004
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 21.005%)

344,819

248,490

Effects of:
Expenses not deductible for tax purposes (7,310 ) 1,195
Income not taxable for tax purposes (8,333 ) (7,002 )
Capital allowances in excess of depreciation (27,810 ) -
Withholding tax 532 (3,753 )
Capitalised repairs (13,590 ) (25,178 )
Enhanced capital allowances - (938 )
Difference in tax rates - 2,658
Deferred tax movement 59,201 -
Total tax charge 347,509 215,472

9. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 August 2023 2,103,790
Additions 144,789
At 31 July 2024 2,248,579
AMORTISATION
At 1 August 2023 1,984,868
Amortisation for year 86,330
At 31 July 2024 2,071,198
NET BOOK VALUE
At 31 July 2024 177,381
At 31 July 2023 118,922

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

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


10. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 105,758 569,502 299,850 68,607 1,043,717
Additions 68,982 217,183 164,870 25,526 476,561
Disposals (12,931 ) (21,526 ) - - (34,457 )
At 31 July 2024 161,809 765,159 464,720 94,133 1,485,821
DEPRECIATION
At 1 August 2023 68,493 250,031 207,071 15,331 540,926
Charge for year 26,226 123,424 52,743 27,729 230,122
Eliminated on disposal (12,194 ) (20,710 ) - - (32,904 )
At 31 July 2024 82,525 352,745 259,814 43,060 738,144
NET BOOK VALUE
At 31 July 2024 79,284 412,414 204,906 51,073 747,677
At 31 July 2023 37,265 319,471 92,779 53,276 502,791

11. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST
At 1 August 2023 1,047,299
Disposals (1,047,299 )
At 31 July 2024 -
PROVISIONS
At 1 August 2023 49,483

Eliminated on disposal (49,483 )
At 31 July 2024 -
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 997,816


HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

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


12. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 982,379
NET BOOK VALUE
At 31 July 2024 982,379
At 31 July 2023 982,379

13. STOCKS
2024 2023
£    £   
Stocks 61,525 66,878

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,360,569 2,263,022
Other debtors 2,929,210 1,457,303
Prepayments 270,517 313,436
5,560,296 4,033,761

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 548,813 520,283
Tax 288,073 223,853
VAT 230,578 440,920
Other creditors 589,936 1,742,427
Directors loan account 920,000 918,454
Accrued expenses 95,835 92,328
2,673,235 3,938,265

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Grants 13,439 16,667
Directors loan account 3,487,212 1,550,000
3,500,651 1,566,667

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

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


17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 232,159 374,040
Between one and five years 670,439 753,272
In more than five years 154,633 295,233
1,057,231 1,422,545

18. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 147,311 88,110

Deferred
tax
£   
Balance at 1 August 2023 88,110
Provided during year 59,201
Balance at 31 July 2024 147,311

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

20. RESERVES
Retained
earnings
£   

At 1 August 2023 5,181,018
Profit for the year 1,031,767
At 31 July 2024 6,212,785

21. 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).

HIGHFIELD AWARDING BODY FOR COMPLIANCE
LIMITED (REGISTERED NUMBER: 06478925)

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


22. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 291,248

23. RELATED PARTY DISCLOSURES

During the year the company received management charges of £- (2023: £430,000) from companies under the common control of the directors and incurred costs of £8,000 (2023: £21,000).

Amounts due by companies under common control of the directors £2,922,078 (2023: £1,450,130).
Amounts due to companies under common control of the directors £175,067 (2023: £1,562,953).
The loans are interest free with no set repayment date.