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REGISTERED NUMBER: 03299034 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31st January 2025

for

High-Spec Limited

High-Spec Limited (Registered number: 03299034)






Contents of the Financial Statements
for the Year Ended 31st January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


High-Spec Limited

Company Information
for the Year Ended 31st January 2025







DIRECTORS: A C Brown
T Brown
J A House





SECRETARY: J A House





REGISTERED OFFICE: Starlight House
Oaks Way
Earl Shilton
Leicestershire
LE9 7GA





REGISTERED NUMBER: 03299034 (England and Wales)





ACCOUNTANTS: Barker & Co
Chartered Accountants
Watling Offices
Smockington Lane
Wolvey
Hinckley
Leicestershire
LE10 3AY

High-Spec Limited (Registered number: 03299034)

Balance Sheet
31st January 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 312
Tangible assets 5 49,580 42,122
49,580 42,434

CURRENT ASSETS
Stocks 25,000 30,000
Debtors 6 110,981 83,008
Cash at bank 490,083 573,698
626,064 686,706
CREDITORS
Amounts falling due within one year 7 225,015 301,629
NET CURRENT ASSETS 401,049 385,077
TOTAL ASSETS LESS CURRENT
LIABILITIES

450,629

427,511

PROVISIONS FOR LIABILITIES 10,700 5,000
NET ASSETS 439,929 422,511

CAPITAL AND RESERVES
Called up share capital 8 10,300 10,300
Retained earnings 429,629 412,211
SHAREHOLDERS' FUNDS 439,929 422,511

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2025 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.

High-Spec Limited (Registered number: 03299034)

Balance Sheet - continued
31st January 2025


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 24th June 2025 and were signed on its behalf by:





A C Brown - Director


High-Spec Limited (Registered number: 03299034)

Notes to the Financial Statements
for the Year Ended 31st January 2025

1. STATUTORY INFORMATION

High-Spec 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 represents the sale of goods and services, excluding value added tax.


Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold property - equal annual instalments over 5 years
Equipment - 15% on reducing balance
Motor vehicles - 20% 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.

High-Spec Limited (Registered number: 03299034)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2025

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Any other transactions are translated into sterling at the exchange rates ruling at the date of the transaction. Any exchange differences are written off to the Profit & Loss Account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill Website Totals
£    £    £   
COST
At 1st February 2024
and 31st January 2025 7,500 10,499 17,999
AMORTISATION
At 1st February 2024 7,188 10,499 17,687
Amortisation for year 312 - 312
At 31st January 2025 7,500 10,499 17,999
NET BOOK VALUE
At 31st January 2025 - - -
At 31st January 2024 312 - 312

High-Spec Limited (Registered number: 03299034)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2025

5. TANGIBLE FIXED ASSETS
Leasehold Motor
property Equipment vehicles Totals
£    £    £    £   
COST
At 1st February 2024 21,974 155,517 67,710 245,201
Additions - 2,741 42,918 45,659
Disposals - (70,532 ) (40,578 ) (111,110 )
At 31st January 2025 21,974 87,726 70,050 179,750
DEPRECIATION
At 1st February 2024 21,974 138,427 42,678 203,079
Charge for year - 624 3,799 4,423
Eliminated on disposal - (56,816 ) (20,516 ) (77,332 )
At 31st January 2025 21,974 82,235 25,961 130,170
NET BOOK VALUE
At 31st January 2025 - 5,491 44,089 49,580
At 31st January 2024 - 17,090 25,032 42,122


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 81,552 70,115
Other debtors 11,030 2,050
Prepayments 18,399 10,843
110,981 83,008

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 17,155 37,304
Corporation tax 76,200 68,800
Social security and other taxes 17,069 36,119
Director's current account 46,920 14,844
Accrued expenses 67,671 144,562
225,015 301,629

High-Spec Limited (Registered number: 03299034)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2025

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
10,000 Ordinary £1 10,000 10,000
200 B Shares 100
C Shares 100 £1 200 200
2 D Shares £50 100 100
10,300 10,300

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following transactions with director subsisted during the year:

£   
T Brown
Private expenses11,688
Dividend drawn46,100


A C Brown
Private expenses57,130
Dividend drawn38,000

J A House
Dividend drawn24,142
Private expenses5,055


No Interest was payable on the Directors loan accounts.

10. ULTIMATE CONTROLLING PARTY



A C Brown is the ultimate controlling party by virtue of his beneficial ownership of 80% of the company's issued share capital.