REGISTERED NUMBER: 07054271 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Highfield (North East) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W F Ashton

J Ashton

S Ashton

D A Ashton

SECRETARY:

J Ashton

REGISTERED OFFICE:

37 Emerald Street

SALTBURN-BY-THE-SEA

North Yorkshire

TS12 1EE

REGISTERED NUMBER:

07054271 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

140 Coniscliffe Road

DARLINGTON

Co Durham

DL3 7RT

FIXED ASSETS

Tangible assets

4

1,018,214

502,995

CURRENT ASSETS

Debtors

5

291,790

319,375

Cash at bank

426,635

161,258

718,425

480,633

CREDITORS

Amounts falling due within one year

6

589,573

449,378

NET CURRENT ASSETS

128,852

31,255

TOTAL ASSETS LESS CURRENT LIABILITIES

1,147,066

534,250

CREDITORS

Amounts falling due after more than one year

7

(728,623

)

(299,523

)

PROVISIONS FOR LIABILITIES

11

-

(6,416

)

NET ASSETS

418,443

228,311

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

418,343

228,211

SHAREHOLDERS' FUNDS

418,443

228,311

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2025 and were signed on its behalf by:

D A Ashton - Director

1.	STATUTORY INFORMATION

Highfield (North East) 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised when the service is provided.

Tangible fixed assets

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

Land and buildings

-

not provided

Improvements to property

-

10% on cost

Fixtures and fittings

-

20% on cost

Tools and equipment

-

20% on cost

Tangible fixed assets are held are cost less accumulated depreciation.

The directors consider that the residual value of freehold property is equal to or greater than the carrying value within the accounts. Accordingly, no depreciation has been recognised in the period

Grants

Capital based grants are credited to the profit and loss account in equal instalments, over the estimated useful life of the related asset.

Revenue based grants are credited to the profit and loss account when entitled

Financial instruments

Basic financial instruments are recognised at amortised cost with charges recognised in profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme and retirement benefits are also provided to teaching staff by the Teacher's Pension Scheme (''TPS'') which is a defined benefit scheme.

The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees' working lives with the company in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. Consequently, the TPS is treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2023 - 50 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Land and

to

and

Tools and

buildings

property

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 November 2023

322,905

153,767

28,473

149,600

654,745

Additions

520,844

30,902

-

-

551,746

At 31 October 2024

843,749

184,669

28,473

149,600

1,206,491

DEPRECIATION

At 1 November 2023

-

-

28,473

123,277

151,750

Charge for year

-

16,614

-

19,913

36,527

At 31 October 2024

-

16,614

28,473

143,190

188,277

NET BOOK VALUE

At 31 October 2024

843,749

168,055

-

6,410

1,018,214

At 31 October 2023

322,905

153,767

-

26,323

502,995

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

233,129

236,681

Other debtors

28,951

-

Prepayments and accrued income

29,710

82,694

291,790

319,375

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 8)

45,554

46,408

Trade creditors

32,344

13,275

Taxation and social security

139,182

121,229

Other creditors

28,650

5,271

Accruals and deferred income

343,843

263,195

589,573

449,378

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 8)

621,645

179,173

Accruals and deferred income

106,978

120,350

728,623

299,523

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

479,553

117,281

8.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

45,554

46,408

Amounts falling due between one and two years:

Bank loans - 1-2 years

40,639

24,569

Amounts falling due between two and five years:

Bank loans - 2-5 years

101,453

37,323

Amounts falling due in more than five years:

2024

2023

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

479,553

117,281

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

99,697

46,048

Between one and five years

179,205

73,230

278,902

119,278

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

667,199

225,581

National Westminster Bank PLC holds a fixed and floating charge over the assets of the business.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

-

6,416

Deferred

tax

£

Balance at 1 November 2023

6,416

Credit to Statement of Income and Retained Earnings during year

(6,416

)

Balance at 31 October 2024

-

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100