Silverfin false false 31/07/2024 01/08/2023 31/07/2024 N Armstrong 24/01/2003 25 April 2025 The principal activity of the Company during the financial year is property investment. 04645069 2024-07-31 04645069 bus:Director1 2024-07-31 04645069 2023-07-31 04645069 core:CurrentFinancialInstruments 2024-07-31 04645069 core:CurrentFinancialInstruments 2023-07-31 04645069 core:Non-currentFinancialInstruments 2024-07-31 04645069 core:Non-currentFinancialInstruments 2023-07-31 04645069 core:ShareCapital 2024-07-31 04645069 core:ShareCapital 2023-07-31 04645069 core:RetainedEarningsAccumulatedLosses 2024-07-31 04645069 core:RetainedEarningsAccumulatedLosses 2023-07-31 04645069 2023-08-01 2024-07-31 04645069 bus:FilletedAccounts 2023-08-01 2024-07-31 04645069 bus:SmallEntities 2023-08-01 2024-07-31 04645069 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 04645069 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04645069 bus:Director1 2023-08-01 2024-07-31 04645069 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Company No: 04645069 (England and Wales)

HIGH PROFILE PROPERTIES (UK) LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

HIGH PROFILE PROPERTIES (UK) LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

HIGH PROFILE PROPERTIES (UK) LIMITED

BALANCE SHEET

As at 31 July 2024
HIGH PROFILE PROPERTIES (UK) LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 17,218,998 16,200,000
17,218,998 16,200,000
Current assets
Debtors 4 18,534 21,685
Cash at bank and in hand 124,511 107,194
143,045 128,879
Creditors: amounts falling due within one year 5 ( 478,412) ( 440,327)
Net current liabilities (335,367) (311,448)
Total assets less current liabilities 16,883,631 15,888,552
Creditors: amounts falling due after more than one year 6 ( 7,446,458) ( 6,668,622)
Provision for liabilities ( 1,629,102) ( 1,628,664)
Net assets 7,808,071 7,591,266
Capital and reserves
Called-up share capital 100 100
Profit and loss account 7,807,971 7,591,166
Total shareholders' funds 7,808,071 7,591,266

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of High Profile Properties (UK) Limited (registered number: 04645069) were approved and authorised for issue by the Director on 25 April 2025. They were signed on its behalf by:

N Armstrong
Director
HIGH PROFILE PROPERTIES (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
HIGH PROFILE PROPERTIES (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

High Profile Properties (UK) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is in relation to rental income received in relation to the letting of investment properties.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 August 2023 16,200,000
Additions 1,017,248
Fair value movement 1,750
As at 31 July 2024 17,218,998

Valuation

The Investment properties were revalued at the balance sheet date, and in the opinion of the director the market value of properties have remained in line with the previous period.

There has been no valuation of investment property by an independent valuer.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 10,702,591 9,685,343

4. Debtors

2024 2023
£ £
Trade debtors 11,090 3,127
Other debtors 7,444 18,558
18,534 21,685

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Taxation and social security 85,164 54,754
Other creditors 383,248 375,573
478,412 440,327

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 7,446,458 6,668,622

7. Reserves

Reserves

2024 2023
£ £
Distributable reserves 2,920,665 2,705,173
Non-distributable reserves 4,887,306 4,885,993
7,807,971 7,591,166

Included in the profit and loss reserve is £4,887,306 (2023 - £4,885,993 ) of non-distributable reserves.