Highland Associates (2008) Limited - Accounts to registrar (filleted) - small 17.3

HIGHLAND ASSOCIATES (2008) LIMITED - Company Information

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REGISTERED NUMBER: 06631344 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

HIGHLAND ASSOCIATES (2008) LIMITED

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTOR:

Mr M T Bromley

SECRETARY:

Mrs C D Bromley

REGISTERED OFFICE:

Highlands House

4C Stephenson Way

Thetford

Norfolk

IP24 3RH

REGISTERED NUMBER:

06631344 (England and Wales)

ACCOUNTANTS:

LEES

Chartered Certified Accountants

Ingram House

Meridian Way

Norwich

Norfolk

NR7 0TA

FIXED ASSETS

Investments

48,100

Investment property

200,000

248,100

CURRENT ASSETS

Stocks

243,062

Debtors

271,083

236,609

Cash at bank

7,343

824

521,488

480,495

CREDITORS

Amounts falling due within one year

740,763

9,698

NET CURRENT (LIABILITIES)/ASSETS

(219,275

)

470,797

TOTAL ASSETS LESS CURRENT
LIABILITIES

28,825

718,897

CREDITORS

Amounts falling due after more than one
year

687,577

NET ASSETS

28,825

31,320

CAPITAL AND RESERVES

Called up share capital

506

Share premium

47,619

Investment reserve

(60,560

)

(60,560

)

Retained earnings

41,260

43,755

SHAREHOLDERS' FUNDS

28,825

31,320

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 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 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 director on 21 December 2017 and were signed by:

Mr M T Bromley - Director

1.	STATUTORY INFORMATION

Highland Associates (2008) 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 meets its day-to-day working capital requirements through the support of its director and related

companies. On the basis of anticipated cashflows, the director considers that the company will trade

successfully for the foreseeable future. On this basis, the director considers it appropriate to prepare the

financial statements on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Highland Associates (2008) Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents the fair value of rents receivable in the period and management charges made, excluding

value added tax.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost, less any provision for impairment.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 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.

EMPLOYEES

The average number of employees during the year was 1 (2016 - 1 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

COST

At 1 April 2016

and 31 March 2017

48,100

NET BOOK VALUE

At 31 March 2017

48,100

At 31 March 2016

48,100

5.	INVESTMENT PROPERTY

Total

FAIR VALUE

At 1 April 2016

and 31 March 2017

200,000

NET BOOK VALUE

At 31 March 2017

200,000

At 31 March 2016

200,000

The company's investment property was valued on a fair value basis by the director, on 31 March 2017.

DEBTORS

2017

2016

Amounts falling due within one year:

Other debtors

237,255

209,152

Amounts falling due after more than one year:

Other debtors

33,828

27,457

Aggregate amounts

271,083

236,609

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

Trade creditors

481

479

Amounts owed to group undertakings

735,117

Taxation and social security

5,165

9,219

740,763

9,698

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

Amounts owed to group undertakings

687,577

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

Mr M T Bromley

Balance outstanding at start of year

(101,281

)

(328,743

)

Amounts advanced

63,987

348,576

Amounts repaid

(100,769

)

(121,114

)

Amounts written off

Amounts waived

Balance outstanding at end of year

(138,063

)

(101,281

)

Interest of £4,216 (2016 - £8,409) has been charged on the overdrawn outstanding balance.

10.	RELATED PARTY DISCLOSURES

Highlands Products Limited

A 100% subsidiary of the company.

Dividends of £35,000 (2016 - £25,000) were received during the year from Highlands Products Limited.

The amount due to the related party at the balance sheet date was £735,117 (2016 - £687,577).

Highlands International (1999) Limited

A 100% subsidiary of the company.

The amount due from the related party at the balance sheet date was £1,090 (2016 - £1,090).

Advanced Animal Health Limited

Mr M T Bromley is also a director of this company.

The amount due from the related party at the balance sheet date was £500 (2016 - £500).

AFS Supplies Limited

Mr M T Bromley is also a director and shareholder of this company.

The amount due from the related party at the balance sheet date was £33,328 (2016 - £25,867).

Peerless Plastics and Coatings Limited

Mr M T Bromley is also a director and shareholder of this company.

The amount due from the related party at the balance sheet date was £55,940 (2016 - £55,940).

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the sole director, Mr M T Bromley, by virtue of his controlling interest in the
issued share capital of the company.