Hightown Homes Limited - Accounts to registrar (filleted) - small 18.2

Hightown Homes Limited - Accounts to registrar (filleted) - small 18.2

HIGHTOWN HOMES LIMITED - Company Information

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REGISTERED NUMBER: 06579245 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Hightown Homes Limited
Hightown Homes Limited (Registered number: 06579245)






Contents of the Financial Statements
for the Year Ended 31 December 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

Hightown Homes Limited

Company Information
for the Year Ended 31 December 2020







DIRECTOR: A J Jennings





REGISTERED OFFICE: 212 Longford Road
Cannock
West Midlands
WS11 1NE





REGISTERED NUMBER: 06579245 (England and Wales)





ACCOUNTANTS: Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD
Page 1
Hightown Homes Limited (Registered number: 06579245)

Balance Sheet
31 December 2020

2020 2019
Notes £    £   
CURRENT ASSETS
Stocks 155,535 155,535
Cash at bank 16 2,300
155,551 157,835
CREDITORS
Amounts falling due within one year 4 (132,696 ) (53,845 )
NET CURRENT ASSETS 22,855 103,990
TOTAL ASSETS LESS CURRENT
LIABILITIES
22,855
103,990

CREDITORS
Amounts falling due after more than one
year
5
-
(80,808
)
NET ASSETS 22,855 23,182

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 22,755 23,082
SHAREHOLDERS' FUNDS 22,855 23,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2021 and were signed by:





A J Jennings - Director


The notes form part of these financial statements

Page 2
Hightown Homes Limited (Registered number: 06579245)

Notes to the Financial Statements
for the Year Ended 31 December 2020

1. STATUTORY INFORMATION

Hightown Homes 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.

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


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.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Bank loans and overdrafts 80,467 3,240
Taxation and social security 23 66
Other creditors 52,206 50,539
132,696 53,845

Page 3 continued...
Hightown Homes Limited (Registered number: 06579245)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2020 2019
£    £   
Bank loans - 80,808

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due more than
five years by instalments - 68,808
- 68,808

6. SECURED DEBTS

The following secured debts are included within creditors:

2020 2019
£    £   
Bank loans 80,467 84,048

The bank loan is secured by a first legal charge over the freehold property included in stocks and a personal guarantee by the director, A.J Jennings, limited to £90,000, plus interest and costs.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 January 2020 23,082
Deficit for the year (327 )
At 31 December 2020 22,755

Page 4 continued...
Hightown Homes Limited (Registered number: 06579245)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

9. RELATED PARTY DISCLOSURES

Ridgewood Homes Holdings Limited.

A company controlled by A J Jennings, the director of this company.

Amount owed to Ridgewood Homes Holdings Limited at 31 December 2020 £28,424 (2019 - £28,424).

The amount owed to Ridgewood Homes Holdings Limited is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand, but the director of Ridgewood Homes Holdings Limited has given his assurance that this amount will not be demanded for payment until such time as Hightown Homes Limited can afford to do so without detriment to its operating and working capital requirements.

Ridgewood Homes Limited.

A company in which the director of this company, A J Jennings, is a director and has a shareholding.

Amount owed to Ridgewood Homes Limited at 31 December 2020 £22,105 (2019 - £21,262).

The amount owed to Ridgewood Homes Limited is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand, but the directors of Ridgewood Homes Limited have given their assurance that this amount will not be demanded for payment until such time as Hightown Homes Limited can afford to do so without detriment to its operating and working capital requirements.

Page 5
Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Hightown Homes Limited

The following reproduces the text of the report prepared for the director 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 Director 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 Hightown Homes Limited for the year ended 31 December 2020 which comprise the Profit and Loss Account, 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 director of Hightown Homes Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hightown Homes Limited and state those matters that we have agreed to state to the director of Hightown Homes Limited 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 Hightown Homes Limited and its director for our work or for this report.

It is your duty to ensure that Hightown Homes 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 Hightown Homes Limited. You consider that Hightown Homes 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 Hightown Homes 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.






Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


19 March 2021

This page does not form part of the statutory financial statements

Page 6