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COMPANY REGISTRATION NUMBER: 03199410
Highgate Motor Centre Limited
Filleted Unaudited Financial Statements
31 December 2024
Highgate Motor Centre Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Highgate Motor Centre Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Current assets
Debtors
4
52,283
52,283
Cash at bank and in hand
797
596
--------
--------
53,080
52,879
Creditors: amounts falling due within one year
5
69,328
62,127
--------
--------
Net current liabilities
16,248
9,248
--------
-------
Total assets less current liabilities
( 16,248)
( 9,248)
Creditors: amounts falling due after more than one year
6
30,309
36,314
--------
--------
Net liabilities
( 46,557)
( 45,562)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 46,657)
( 45,662)
--------
--------
Shareholders deficit
( 46,557)
( 45,562)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Highgate Motor Centre Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 25 June 2025 , and are signed on behalf of the board by:
Mr Mojtaba Dehghanpour
Mr Hisham Ridha
Director
Director
Company registration number: 03199410
Highgate Motor Centre Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 505-511 Archway Road, London, N6 4HX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
4. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
45,500
45,500
Other debtors
6,783
6,783
--------
--------
52,283
52,283
--------
--------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,067
6,067
Amounts owed to group undertakings and undertakings in which the company has a participating interest
63,261
56,060
--------
--------
69,328
62,127
--------
--------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
30,309
36,314
--------
--------