REGISTERED NUMBER: 02056833 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HIGHPHASE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T Horkan

Mr Patrick Horkan

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

02056833 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

10,982,744

10,985,912

CURRENT ASSETS

Debtors

5

793,524

805,524

Cash at bank

791,135

797,370

1,584,659

1,602,894

CREDITORS

Amounts falling due within one year

6

293,713

280,229

NET CURRENT ASSETS

1,290,946

1,322,665

TOTAL ASSETS LESS CURRENT LIABILITIES

12,273,690

12,308,577

CREDITORS

Amounts falling due after more than one year

7

(2,151,390

)

(2,471,390

)

PROVISIONS FOR LIABILITIES

9

(649,444

)

(649,444

)

NET ASSETS

9,472,856

9,187,743

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Fair value reserve

11

5,385,204

5,385,204

Retained earnings

11

4,086,652

3,801,539

SHAREHOLDERS' FUNDS

9,472,856

9,187,743

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 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 26 November 2025 and were signed on its behalf by:

Mr T Horkan - Director

1.	STATUTORY INFORMATION

Highphase 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred.This is stated after trade discounts, other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

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.

Investment properties

Investment property is shown a most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Investment

Plant and

and

Motor

properties

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

10,970,070

11,350

101,736

30,213

11,113,369

DEPRECIATION

At 1 April 2024

-

11,350

100,396

15,711

127,457

Charge for year

-

-

268

2,900

3,168

At 31 March 2025

-

11,350

100,664

18,611

130,625

NET BOOK VALUE

At 31 March 2025

10,970,070

-

1,072

11,602

10,982,744

At 31 March 2024

10,970,070

-

1,340

14,502

10,985,912

Cost or valuation at 31 March 2025 is represented by:

Fixtures

Investment

Plant and

and

Motor

properties

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2006

990,750

-

-

-

990,750

Valuation in 2007

4,964,410

-

-

-

4,964,410

Valuation in 2010

306,552

-

-

-

306,552

Valuation in 2017

(130,158

)

-

-

-

(130,158

)

Valuation in 2022

(137,717

)

-

-

-

(137,717

)

Cost

4,976,233

11,350

101,736

30,213

5,119,532

10,970,070

11,350

101,736

30,213

11,113,369

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Amount due from related

companies

793,524

805,524

793,524

805,524

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

14,159

17,736

Tax

115,218

109,139

Rental deposits

82,092

78,586

Directors' current accounts

69,044

61,568

Accrued expenses

13,200

13,200

293,713

280,229

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans (see note 8)

2,151,390

2,471,390

The bank loans are secured by fixed charges over the investment properties.

8.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due between one and two years:

Bank loans - due after 5 years

2,151,390

2,471,390

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

649,444

649,444

Deferred

tax

£

Balance at 1 April 2024

649,444

Balance at 31 March 2025

649,444

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number

Class

Nominal Value

31.3.23

31.03.22

95,000

Ordinary

0.01

950

950

5,000

Preference

0.01

50

50

1,000

1,000

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2024

3,801,539

5,385,204

9,186,743

Profit for the year

345,113

345,113

Dividends

(60,000

)

(60,000

)

At 31 March 2025

4,086,652

5,385,204

9,471,856

£

Distributable reserves

4,127,463

Non-distributable reserves

5,344,393

At 31/03/2025

9,471,856