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Registered number: 10349320
Highview Group Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Strategic Report 1
Directors' Report 2—3
Independent Auditor's Report 4—6
Profit and Loss Account 7
Statement of Comprehensive Income 8
Balance Sheet 9
Statement of Changes in Equity 10
Statement of Cash Flows 11
Notes to the Statement of Cash Flows 12
Notes to the Financial Statements 13—19
Page 1
Strategic Report
The directors present their strategic report for the year ended 30 September 2024.
Principal Activity
The company’s principal activity continues to be a provider of refurbishment, planned maintenance and energy efficiency works as well as specialist roofing services across the Southeast of England.
Review of the Business
Highview Group is a well established contractor with a mass of experience across multiple sectors including residential, education, commercial and retail.
Our head office, situated in Essex enables the company to service all regions across London and the Southeast.
The profit for the year after taxation amounted to £394,633 (2023: £258,056). The company paid dividends of £28,936 (2023: £95,266) during the year.
Principal Risks and Uncertainties
The company has exposures to the risks listed below. To a less extent the company is exposed to obtaining and continuation of work as indicated under future developments.
Liquidity Risk
The objective of the company in managing liquidity risk is to ensure that it can meet it’s financial obligations as and when they fall due.
To achieve this the company manages its cash and borrowing requirements to minimise interest expenses, whilst ensuring that the company has sufficient liquid resources to meet the operating needs of the business.
Customer Credit Risk
The company may offer credit terms to its customers, which allow payment of the debt after delivery of the products. The company is at risk to the extent that the customer may be unable to pay the debt on the specified due date. The risk is mitigated by the strong on-going customer relationships and by credit controls in place.
Economic Risk
The directors have identified and evaluated risks and uncertainties and have controls in place to mitigate these. Responsibility for management of each key risk is identified and delegated. The main risk currently sits around the recent changes made by the new government in relation to NI increases, this will mean the company is exposed to higher costs which could lower the businesses net contribution in the future. However, actions continue to be taken to maximise the company's performance in all aspects of the business.
Cyber Security
The Company relies heavily on IT systems to operate its business, from supply chain to H&S and Finances. The risk of Cyber-attacks is an increasing risk to every business. Ensuring we have robust and up to date Cyber security measures and vigilant users is vital. We have good IT management in place and will continue to review these risks going forward.
On behalf of the board
Mr Terry Lake
Director
Mr Conor Sullivan
Director
9th May 2025
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 30 September 2024.
Future Developments
The financial year 2023–2024 was a period of significant transition, growth, and strategic restructuring for Highview. The business achieved substantial improvements across all key financial metrics. Sales increased by 36.1%, and the net margin improved by an impressive 52.9%, demonstrating stronger profitability. Operational efficiency also advanced, with overheads as a percentage of revenue falling from 20.08% to 17.2%.
A major restructuring of the leadership team was undertaken during the year, including a change in the Managing Director position. The senior leadership team was realigned to provide clearer reporting lines, defined roles, and enhanced accountability. These changes have brought improved strategic direction and operational governance.
We have strengthened our internal controls and reporting mechanisms, resulting in greater oversight and responsiveness across the business. As a result of these efforts, the pipeline for the upcoming financial year and beyond is robust. Notably, three new framework agreements have recently been secured, each spanning three years, which positions Highview for sustained growth.
Dividends
The value of dividends paid amounted to £28,936 .
The directors recommended a final dividend of £NIL .
Political Donations and Expenditure
There were no political donations made during the year; all donations were for charitable purposes. The company made a total of £43,131 in charitable donations in the financial year. This represents an 88% increase from the previous year and will continue to increase as our turnover does. 
Directors
The directors who held office during the year were as follows:
Mr Terry Lake
Mr Conor Sullivan
Mr Daniel Costen Resigned 09/09/2024
Mr Greg Williams Resigned 31/12/2023
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • 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.
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The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Independent Auditors
The auditors, Pocknells Audit Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Mr Terry Lake
Director
Mr Conor Sullivan
Director
9th May 2025
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Independent Auditor's Report
Opinion
We have audited the financial statements of Highview Group Limited for the year ended 30 September 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit/(loss) 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 Auditor's 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 entity's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.
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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 Directors' Report.
We have nothing to report in respect of the following matters in relation to which 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 or 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 Directors' Responsibilities Statement set out on page 2—3, 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 is 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.
Auditor's 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 an auditor's report 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: 
- We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006) and the relevant direct and indirect tax compliance regulations in the United Kingdom, health and safety regulations and General Data Protection Requirements.
- We understood how Highview Group Limited is complying with those frameworks by making enquiries of management to understand the process in place to maintain and communicate its policies and procedures in these areas. We corroborated our enquiries through our review of board minutes, correspondence with relevant authorities and supporting documentation, and noted that there was no contradictory evidence.
- We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur by considering the risk of management override and by assuming revenue to be a fraud risk. We tested manual journals, revenue recognition and cut off. We selected and tested specific transactions, including manual journals, agreeing back to source documentation ensuring appropriate authorisation of the transactions.
- Based on this understanding we designed our audit procedures to identify non compliance with such laws and regulations. Our procedures involved:
-Enquiry of management and those charged with governance as to any fraud identified or suspected in the period, any actual or potential litigation or claims or breaches of significant laws or regulations applicable to the company;
-Auditing the risk of management override of controls, through selecting and testing a sample of journal entries, meeting certain criteria defined as associated to the risk of management override and other adjustments for appropriateness;
-Enquiry of management, coupled with testing of journal entries, in order to identify and understand any significant transactions outside the normal course of business;
-Challenging the judgements made by management through corroborating the basis for those judgements and considering contradicting evidence; and
-Reading the financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Other matters
The financial statements of the company for the year ended 30 September 2023 were unaudited.
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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 that we are required to state to them in an auditor's report 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.
Jeremy Boyden BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Pocknells Audit Limited , Statutory Auditor
9th May 2025
Pocknells Audit Limited
46 Hullbridge Road
South Woodham Ferrers
Essex
CM3 5NG
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Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 19,951,194 14,653,840
Cost of sales (16,033,640 ) (11,449,239 )
GROSS PROFIT 3,917,554 3,204,601
Administrative expenses (3,221,908 ) (2,829,045 )
OPERATING PROFIT 3 695,646 375,556
Profit on disposal of fixed assets 6,500 40,304
Interest payable and similar charges 8 (207,098 ) (154,350 )
PROFIT BEFORE TAXATION 495,048 261,510
Tax on Profit 9 (100,415 ) (3,454 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 394,633 258,056
The notes on pages 12 to 19 form part of these financial statements.
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Statement of Comprehensive Income
2024 2023
£ £
PROFIT FOR THE FINANCIAL YEAR 394,633 258,056
OTHER COMPREHENSIVE INCOME FOR THE YEAR - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 394,633 258,056
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Balance Sheet
Registered number: 10349320
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 10 400,432 206,527
400,432 206,527
CURRENT ASSETS
Stocks 11 26,284 25,817
Debtors 12 6,296,292 5,055,326
Cash at bank and in hand 1,335,310 1,622,659
7,657,886 6,703,802
Creditors: Amounts Falling Due Within One Year 13 (6,447,731 ) (5,745,039 )
NET CURRENT ASSETS (LIABILITIES) 1,210,155 958,763
TOTAL ASSETS LESS CURRENT LIABILITIES 1,610,587 1,165,290
Creditors: Amounts Falling Due After More Than One Year 14 (555,181 ) (502,400 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 17 (25,919 ) -
NET ASSETS 1,029,487 662,890
CAPITAL AND RESERVES
Called up share capital 18 1,000 100
Profit and Loss Account 1,028,487 662,790
SHAREHOLDERS' FUNDS 1,029,487 662,890
On behalf of the board
Mr Terry Lake
Director
Mr Conor Sullivan
Director
9th May 2025
The notes on pages 12 to 19 form part of these financial statements.
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Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 October 2022 100 500,000 500,100
Profit for the year and total comprehensive income - 258,056 258,056
Dividends paid - (95,266) (95,266)
As at 30 September 2023 and 1 October 2023 100 662,790 662,890
Profit for the year and total comprehensive income - 394,633 394,633
Dividends paid - (28,936) (28,936)
As at 30 September 2024 1,000 1,028,487 1,029,487
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Statement of Cash Flows
2024 2023
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 206,661 1,214,403
Interest paid (207,098 ) (154,350 )
Tax paid (6,707 ) (118,148 )
Net cash (used in)/generated from operating activities (7,144 ) 941,905
Cash flows from investing activities
Purchase of tangible assets (268,698 ) (258,813 )
Proceeds from disposal of tangible assets 6,500 92,186
Net cash used in investing activities (262,198 ) (166,627 )
Cash flows from financing activities
Proceeds from issue of share capital 900 -
Equity dividends paid (28,936 ) (95,266 )
Proceeds from new bank borrowings - 82,420
Repayment of bank borrowings (190,730 ) -
Repayment of finance leases 200,759 (28,890 )
Net cash used in financing activities (18,007 ) (41,736 )
(Decrease)/increase in cash and cash equivalents (287,349 ) 733,542
Cash and cash equivalents at beginning of year 2 1,622,659 889,117
Cash and cash equivalents at end of year 2 1,335,310 1,622,659
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Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2024 2023
£ £
Profit for the financial year 394,633 258,056
Adjustments for:
Tax on profit 100,415 3,454
Interest expense 207,098 154,350
Depreciation of tangible assets 74,793 82,758
Profit on disposal of tangible assets (6,500) (40,304)
Movements in working capital:
(Increase)/decrease in stocks (467 ) 22,491
Increase in trade and other debtors (1,240,966 ) (2,063,223 )
Increase in trade and other creditors 677,655 2,796,821
Net cash generated from operations 206,661 1,214,403
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2024 2023
£ £
Cash at bank and in hand 1,335,310 1,622,659
3. Analysis of changes in net funds
As at 1 October 2023 Cash flows As at 30 September 2024
£ £ £
Cash at bank and in hand 1,622,659 (287,349) 1,335,310
Finance leases (184,530) (200,759) (385,289)
Debts falling due within one year (180,592 ) 72,282 (108,310 )
Debts falling due after more than one year (341,993) 118,448 (223,545)
915,544 (297,378) 618,166
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Notes to the Financial Statements
1. General Information
Highview Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10349320 . The registered office is First Floor, 39 High Street, Billericay, Essex, CM12 9BA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
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 stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
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2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Provisions and Contingencies
Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.
Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.
Contingencies
Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.
Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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3. Operating Profit
The operating profit is stated after charging:
2024 2023
£ £
Bad debts (2,575) -
Depreciation of tangible fixed assets 74,793 82,758
4. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2024 2023
£ £
Audit Services
Audit of the company's financial statements 15,000 -
5. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2024 2023
£ £
Wages and salaries 1,679,848 1,491,917
Social security costs 217,763 140,498
Other pension costs 51,900 29,172
1,949,511 1,661,587
6. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2023: 23)
30 23
7. Directors' remuneration
2024 2023
£ £
Emoluments 465,916 271,667
Company contributions to money purchase pension schemes 14,003 9,200
479,919 280,867
Information regarding the highest paid director was as follows:
2024 2023
£ £
Emoluments 170,000 110,417
Company contributions to money purchase pension schemes 5,120 3,400
175,120 113,817
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8. Interest Payable and Similar Charges
2024 2023
£ £
Bank loans and overdrafts 31,686 50,058
Interest payable on other loans 51 176
Factoring charges 159,292 97,855
Finance charges payable under finance leases and hire purchase contracts 16,069 6,261
207,098 154,350
9. Tax on Profit
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax
UK Corporation Tax 74,496 3,454
Deferred Tax
Deferred taxation 25,919 -
Total tax charge for the period 100,415 3,454
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
2024 2023
£ £
Profit before tax 495,048 261,510
Tax on profit at 25% (UK standard rate) 123,761 65,377
Expenses not deductible for tax purposes 59,068 31,140
Capital allowances (37,423 ) (8,348 )
Short term timing differences 25,919 -
Research and Development tax credit (70,910 ) (74,164 )
Difference in tax rates - (10,551 )
Total tax charge for the period 100,415 3,454
10. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 264,737 18,893 24,353 307,983
Additions 268,698 - - 268,698
As at 30 September 2024 533,435 18,893 24,353 576,681
...CONTINUED
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Depreciation
As at 1 October 2023 74,056 11,916 15,484 101,456
Provided during the period 71,416 1,047 2,330 74,793
As at 30 September 2024 145,472 12,963 17,814 176,249
Net Book Value
As at 30 September 2024 387,963 5,930 6,539 400,432
As at 1 October 2023 190,681 6,977 8,869 206,527
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 387,963 190,681
11. Stocks
2024 2023
£ £
Stock 26,284 25,817
12. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,130,218 2,846,955
Amounts recoverable on contracts 2,967,431 1,373,798
Amounts owed by group undertakings 15,800 15,100
Other debtors 1,182,843 819,473
6,296,292 5,055,326
13. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 53,653 24,123
Trade creditors 2,754,837 2,502,256
Bank loans and overdrafts 108,310 180,592
Amounts owed to group undertakings 681,474 781,847
Other creditors 621,506 82,976
Corporation tax 145,407 77,618
Taxation and social security 166,151 45,619
Accruals and deferred income 1,916,393 2,050,008
6,447,731 5,745,039
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14. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 331,636 160,407
Bank loans 223,545 341,993
555,181 502,400
Of the creditors the following amounts are secured by a fixed and floating charge over the assets of the company.
2024 2023
£ £
Bank loans and overdrafts 331,855 450,303
Other Creditors 487,628 -
15. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 108,310 180,592
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 223,545 341,993
16. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 53,653 24,123
Later than one year and not later than five years 331,636 160,407
385,289 184,530
385,289 184,530
17. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 25,919 -
18. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,000 Ordinary Shares of £ 1.00 each 1,000 100
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19. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to profit or loss in respect of defined contribution schemes was £51,900 (2023: £29,172).
At the balance sheet date contributions of £9,705 (2023: £5,259) were due to the fund and are included in creditors.
20. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 28,936 95,266
21. Controlling Parties
The company's immediate parent undertaking is Highview Group Holdings limited .
The ultimate parent undertaking is Highview Group Holdings Limited (incorporated in England & Wales). Its registered office is First Floor, 39 High Street, Billericay, Essex CM12 9BA .
The company's ultimate controlling party is Highview Group Holdings Limited by virtue of their interest in the share capital of the company.
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