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REGISTERED NUMBER: 07002810 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

FOR

HIGHWAY SHEARING LIMITED

HIGHWAY SHEARING LIMITED (REGISTERED NUMBER: 07002810)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGHWAY SHEARING LIMITED

COMPANY INFORMATION
for the Year Ended 31st August 2024







DIRECTORS: Mr M J D Gillett
Mrs L Gillett





SECRETARY: Mr M J D Gillett





REGISTERED OFFICE: Crown Farm
Unthank
Skelton
Penrith
Cumbria
CA11 9TG





REGISTERED NUMBER: 07002810 (England and Wales)





ACCOUNTANTS: DCB Accountants Limited
Compton House
104 Scotland Road
Penrith
Cumbria
CA11 7NR

HIGHWAY SHEARING LIMITED (REGISTERED NUMBER: 07002810)

BALANCE SHEET
31st August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 538,354 544,340

CURRENT ASSETS
Stocks 5 313,291 242,892
Debtors 6 163,571 177,108
Cash at bank 90,391 90,298
567,253 510,298
CREDITORS
Amounts falling due within one year 7 904,552 886,847
NET CURRENT LIABILITIES (337,299 ) (376,549 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

201,055

167,791

PROVISIONS FOR LIABILITIES 9,526 8,262
NET ASSETS 191,529 159,529

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 191,429 159,429
SHAREHOLDERS' FUNDS 191,529 159,529

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

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

HIGHWAY SHEARING LIMITED (REGISTERED NUMBER: 07002810)

BALANCE SHEET - continued
31st August 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 20th May 2025 and were signed on its behalf by:





Mr M J D Gillett - Director


HIGHWAY SHEARING LIMITED (REGISTERED NUMBER: 07002810)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2024

1. STATUTORY INFORMATION

Highway Shearing 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 12.5% on reducing balance
Fixtures & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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 1 (2023 - 1 ) .

HIGHWAY SHEARING LIMITED (REGISTERED NUMBER: 07002810)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2024

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1st September 2023 366,762 216,770 89,177
Additions - 4,833 8,272
At 31st August 2024 366,762 221,603 97,449
DEPRECIATION
At 1st September 2023 58,680 24,786 50,940
Charge for year 7,335 4,432 5,814
At 31st August 2024 66,015 29,218 56,754
NET BOOK VALUE
At 31st August 2024 300,747 192,385 40,695
At 31st August 2023 308,082 191,984 38,237

Fixtures Motor
& equipment vehicles Totals
£    £    £   
COST
At 1st September 2023 31,963 10,200 714,872
Additions - - 13,105
At 31st August 2024 31,963 10,200 727,977
DEPRECIATION
At 1st September 2023 27,740 8,386 170,532
Charge for year 1,056 454 19,091
At 31st August 2024 28,796 8,840 189,623
NET BOOK VALUE
At 31st August 2024 3,167 1,360 538,354
At 31st August 2023 4,223 1,814 544,340

5. STOCKS
31.8.24 31.8.23
£    £   
Stock at cost 313,291 242,892

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 163,571 177,108

HIGHWAY SHEARING LIMITED (REGISTERED NUMBER: 07002810)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Tax 15,608 12,062
VAT 28,711 38,195
Directors' loan accounts 858,413 833,760
Accrued expenses 1,820 2,830
904,552 886,847