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Registered number: 12245726
Higher Success Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
TaxAssist Accountants
Chartered Accountants
714 London Road
Larkfield
KENT
ME20 6BL
Contents
Page
Accountants' Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Higher Success Limited For The Year Ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Higher Success Limited For The Year Ended 31 March 2025 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Higher Success Limited , as a body, in accordance with the terms of our engagement letter dated 15 October 2019. Our work has been undertaken solely to prepare for your approval the accounts of Higher Success Limited and state those matters that we have agreed to state to the directors of Higher Success Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Higher Success Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Higher Success Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Higher Success Limited . You consider that Higher Success Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Higher Success Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
TaxAssist Accountants
28/05/2025
TaxAssist Accountants
Chartered Accountants
714 London Road
Larkfield
KENT
ME20 6BL
Page 1
Page 2
Statement of Financial Position
Registered number: 12245726
2025 2024
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 35,265 17,767
Cash at bank and in hand - 11,855
35,265 29,622
Creditors: Amounts Falling Due Within One Year 5 (18,008 ) (28,908 )
NET CURRENT ASSETS (LIABILITIES) 17,257 714
TOTAL ASSETS LESS CURRENT LIABILITIES 17,257 714
Creditors: Amounts Falling Due After More Than One Year 6 (16,444 ) -
NET ASSETS 813 714
CAPITAL AND RESERVES
Called up share capital 7 120 120
Income Statement 693 594
SHAREHOLDERS' FUNDS 813 714
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For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Hannah Macdonald
Director
Emma Vata
Director
28/05/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Higher Success Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12245726 . The registered office is 714 London Road, Larkfield, Aylesford, KENT, ME20 6BL.
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 section 1A Small Entities "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. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 3)
2 3
4. Debtors
2025 2024
£ £
Due within one year
Trade debtors 12,240 8,670
VAT 271 -
Directors' loan accounts 22,754 9,097
35,265 17,767
5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Bank loans and overdrafts 5,995 -
Corporation tax 5,139 16,078
VAT - 6,668
Natwest Business Credit Card 5,674 5,156
Accruals and deferred income 1,200 1,006
18,008 28,908
6. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 16,444 -
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 120 120
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8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Miss Hannah Macdonald 2,845 10,560 2,845 - 10,560
Mrs Emma Vata 6,252 12,193 6,285 - 12,193
The above loan is unsecured, interest is charged at HMRC approved rates and repayable on demand. The loan has been repaid subsequent to the year end.
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