Highdrive Property Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00893168 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HIGHDRIVE PROPERTY COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

Mr K P Harrison

Mr N W Harrison

REGISTERED OFFICE:

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

REGISTERED NUMBER:

00893168 (England and Wales)

ACCOUNTANTS:

Carter & Coley

Chartered Accountants

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

FIXED ASSETS

Tangible assets

4

-

275

Investments

5

-

275

CURRENT ASSETS

Stocks

6

10,843,019

6,727,910

Debtors

7

76,373

77,211

Cash at bank and in hand

447,099

1,011,372

11,366,491

7,816,493

CREDITORS

Amounts falling due within one year

8

7,477,371

3,758,119

NET CURRENT ASSETS

3,889,120

4,058,374

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,889,120

4,058,649

CAPITAL AND RESERVES

Called up share capital

176,080

Retained earnings

3,713,040

3,882,569

SHAREHOLDERS' FUNDS

3,889,120

4,058,649

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

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

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 13 October 2025 and were signed on its behalf by:

Mr N W Harrison - Director

1.	STATUTORY INFORMATION

Highdrive Property Company 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST

At 1 April 2024

and 31 March 2025

6,502

12,715

19,217

DEPRECIATION

At 1 April 2024

6,227

12,715

18,942

Charge for year

275

-

275

At 31 March 2025

6,502

12,715

19,217

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

275

-

275

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

320,000

PROVISIONS

At 1 April 2024

and 31 March 2025

320,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

The company's investments at the Balance Sheet date in the share capital of companies include the following:

R M & R Stacey Limited

Registered office:

Nature of business: Building services

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

Aggregate capital and reserves

(272,039

)

(304,299

)

Profit for the year

32,260

61,717

6.

STOCKS

2025

2024

£

Work-in-progress

10,843,019

6,727,910

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

4,753

VAT

1,228

2,278

Prepayments and accrued income

70,392

70,180

76,373

77,211

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts (see note 9)

3,178,081

-

Trade creditors

107,440

-

Amounts owed to group undertakings

349,621

292,018

Social security and other taxes

-

114

Other creditors

3,560,558

3,328,189

Directors' current accounts

259,835

115,962

Accruals and deferred income

21,836

7,477,371

3,758,119

9.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

Amounts falling due within one year or on demand:

Bank loans

3,178,081

-

10.	SECURED DEBTS

The bank loan is secured by a charge on the company's assets.

11.	RELATED PARTY DISCLOSURES

The balance of £349,621 (2024 - £292,018) due to R M & R Stacey Limited is repayable on demand and is interest free.

The company has made loans to the P M Harrison Discretionary Trust and the Mrs P M Harrison Discretionary Trust. These loans are interest free and repayable on demand. At the year end the amount due from the Trust was £980,450 (2024 - £750,450).

The company owed £2,558,517 to a company under common control (2024 - £2,558,517).

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Highdrive Property Company Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Highdrive Property Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Highdrive Property Company Limited and state those matters that we have agreed to state to the Board of Directors of Highdrive Property Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Highdrive Property Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Highdrive Property Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Highdrive Property Company Limited. You consider that Highdrive Property Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Highdrive Property Company 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 statutory financial statements.

Carter & Coley

Chartered Accountants

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

13 October 2025