Highfields Property Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07256387 (England and Wales)

Financial Statements for the Year Ended 31 March 2017

for

Highfields Property Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

G Singh

S Singh

SECRETARY:

S Singh

REGISTERED OFFICE:

612 Pershore Road

Selly Park

Birmingham

B29 7HQ

REGISTERED NUMBER:

07256387 (England and Wales)

ACCOUNTANTS:

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

The following reproduces the text of the report prepared for the directors and members 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 Statement of Financial Position. 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 Highfields Property Limited for the year ended 31 March 2017 which comprise the Income

Statement, Statement of Financial Position, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Highfields Property 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 Highfields Property Limited and state those matters that we have agreed to state to the Board of Directors of Highfields Property Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Highfields Property 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 Highfields Property Limited. You consider that Highfields Property 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 Highfields Property 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.

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

22 August 2017

CURRENT ASSETS

Debtors

3

5,587

5,998

Cash at bank

-

299

5,587

6,297

CREDITORS

Amounts falling due within one year

4

10,984

10,381

NET CURRENT LIABILITIES

(5,397

)

(4,084

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,397

)

(4,084

)

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

(5,399

)

(4,086

)

SHAREHOLDERS' FUNDS

(5,397

)

(4,084

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 22 August 2017 and were signed on its behalf by:

S Singh - Director

1.	STATUTORY INFORMATION

Highfields Property 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has adopted FRS 102 (Section 1A) for the first time in the year ended 31 March 2017.

The financial statements are presented in pound sterling which is the functional currency of the company and

rounded to the nearest £.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Going concern

The financial accounts have been prepared on a going concern basis, the validity of which depends upon the

future support of the directors. In the opinion of the directors, this support will be available such that the

company will continue in operational existence for the foreseeable future.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Directors' accounts

5,587

5,998

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

9,966

9,281

Accruals and deferred income

1,018

1,100

10,984

10,381

5.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

9,966

9,281

Bank loans and overdrafts are secured by a debenture dated 26 July 2010 granted to HSBC Bank plc, creating a

fixed and floating charge over all property and assets present and future of the company.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

7.	TRANSITION TO FRS

This is the first year that the company has presented its results under FRS 102 (Section 1A). The last financial

statements under the UK GAAP were for the year ended 31 March 2016. The date of transition to FRS 102

(Section 1A) was 1 April 2015.