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REGISTERED NUMBER: 12773986 (England and Wales)





HIGHGROUNDS HOLDINGS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






HIGHGROUNDS HOLDINGS LTD (REGISTERED NUMBER: 12773986)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGHGROUNDS HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr A J A Gibson
Mrs S L Gibson





REGISTERED OFFICE: High Grounds Road
Rhodesia
Worksop
Nottinghamshire
S80 3AT





REGISTERED NUMBER: 12773986 (England and Wales)





ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH

HIGHGROUNDS HOLDINGS LTD (REGISTERED NUMBER: 12773986)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 581,792 597,748
Investments 6 768,400 768,400
1,350,192 1,366,148

CURRENT ASSETS
Debtors 7 2,052 -
Cash at bank 7,395 15,221
9,447 15,221
CREDITORS
Amounts falling due within one year 8 769,866 743,697
NET CURRENT LIABILITIES (760,419 ) (728,476 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

589,773

637,672

CREDITORS
Amounts falling due after more than one
year

9

(373,756

)

(468,026

)

PROVISIONS FOR LIABILITIES - (1,472 )
NET ASSETS 216,017 168,174

CAPITAL AND RESERVES
Called up share capital 11 3 2
Retained earnings 216,014 168,172
SHAREHOLDERS' FUNDS 216,017 168,174

HIGHGROUNDS HOLDINGS LTD (REGISTERED NUMBER: 12773986)

BALANCE SHEET - continued
31 DECEMBER 2024


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

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

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 27 July 2025 and were signed on its behalf by:





Mr A J A Gibson - Director


HIGHGROUNDS HOLDINGS LTD (REGISTERED NUMBER: 12773986)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Highgrounds Holdings Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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% straight line
Plant and machinery - 10% straight line

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.


HIGHGROUNDS HOLDINGS LTD (REGISTERED NUMBER: 12773986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. ACCOUNTING POLICIES - continued
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.

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Rental income
Turnover represents the value excluding Value Added Tax of rent charged from customers during the year. In respect of rent charged, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

HIGHGROUNDS HOLDINGS LTD (REGISTERED NUMBER: 12773986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 590,000 55,465 645,465
DEPRECIATION
At 1 January 2024 33,810 13,907 47,717
Charge for year 11,800 4,156 15,956
At 31 December 2024 45,610 18,063 63,673
NET BOOK VALUE
At 31 December 2024 544,390 37,402 581,792
At 31 December 2023 556,190 41,558 597,748

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 768,400
NET BOOK VALUE
At 31 December 2024 768,400
At 31 December 2023 768,400

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Deferred tax asset
Accelerated capital allowances 2,052 -
2,052 -

HIGHGROUNDS HOLDINGS LTD (REGISTERED NUMBER: 12773986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 40,845 40,845
Trade creditors 237 110
Amounts owed to group undertakings 713,590 693,053
Corporation tax 10,534 6,082
VAT 286 325
Directors' current accounts 4,040 2,975
Accruals and deferred income 334 307
769,866 743,697

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 40,845 40,845
Bank loans - 2-5 years 122,536 122,536
Bank loans more 5 yr by instal 99,975 144,245
Other creditors 110,400 160,400
373,756 468,026

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 99,975 144,245

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 304,201 348,471

Fixed and floating charge over the assets of the company.

HIGHGROUNDS HOLDINGS LTD (REGISTERED NUMBER: 12773986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1 1 1
1 Ordinary A 1 1 1
1 Ordinary B 1 1 -
3 2

12. RELATED PARTY DISCLOSURES

During the period the company sold to Highgrounds Paintshops Ltd a group company £78,000 (2023: £67,000).

During the period the company received dividends from its subsidiary company of £100,000 (2023: £120,000).

At the balance sheet date the company owed to group companies £713,355 (2023: £693,053).