Highnett Limited - Accounts

Highnett Limited - Accounts

HIGHNETT LIMITED - Company Information

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Registered Number: 02998901
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 October 2019

for

HIGHNETT LIMITED

Highnett Limited
Contents Page
For the year ended 31 October 2019
 
 		 Notes
 		 2019
£		   2018
£
Fixed assets      
Tangible fixed assets 2 5,725    6,839 
5,725    6,839 
Current assets      
Stocks 44,221    28,304 
Debtors: amounts falling due within one year 106,137    156,618 
Cash at bank and in hand 59,351    34,396 
209,709    219,318 
Creditors: amount falling due within one year (145,147)   (153,212)
Net current assets 64,562    66,106 
 
Total assets less current liabilities 70,287    72,945 
Net assets 70,287    72,945 
 

Capital and reserves 		     
Called up share capital 3 100    100 
Profit and loss account 70,187    72,845 
Shareholders funds 70,287    72,945 
 


For the year ended 31 October 2019 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 27 August 2020 and were signed on its behalf by:


--------------------------------
Tobias Bartlett
Director
1
General Information
Highnett Limited is a private company, limited by shares, registered in England and Wales, registration number 02998901, registration address Grosvenor House Practice, Avening Priory Park, Tetbury, Gloucestershire, GL8 8HZ

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sale taxes.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 November 2018 15,963    11,981    743    26,030    54,717 
Additions 217    -    -    600    817 
Disposals -    -    -    -    - 
At 31 October 2019 16,180    11,981    743    26,630    55,534 
Depreciation
At 01 November 2018 15,148    9,612    724    22,394    47,878 
Charge for year 261    592    5    1,073    1,931 
On disposals -    -    -    -    - 
At 31 October 2019 15,409    10,204    729    23,467    49,809 
Net book values
Closing balance as at 31 October 2019 771    1,777    14    3,163    5,725 
Opening balance as at 01 November 2018 815    2,369    19    3,636    6,839 


3.

Share Capital

Allotted
2019
£		   2018
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

2