Silverfin false 31/12/2021 31/12/2021 01/01/2021 Mr D M Horne 06/02/2003 30 August 2022 The principal activity of the Company during the financial year was that of the provision of financial services and property development. SC243453 2021-12-31 SC243453 bus:Director1 2021-12-31 SC243453 2020-12-31 SC243453 core:CurrentFinancialInstruments 2021-12-31 SC243453 core:CurrentFinancialInstruments 2020-12-31 SC243453 core:Non-currentFinancialInstruments 2021-12-31 SC243453 core:Non-currentFinancialInstruments 2020-12-31 SC243453 core:ShareCapital 2021-12-31 SC243453 core:ShareCapital 2020-12-31 SC243453 core:CapitalRedemptionReserve 2021-12-31 SC243453 core:CapitalRedemptionReserve 2020-12-31 SC243453 core:RetainedEarningsAccumulatedLosses 2021-12-31 SC243453 core:RetainedEarningsAccumulatedLosses 2020-12-31 SC243453 core:OtherPropertyPlantEquipment 2020-12-31 SC243453 core:OtherPropertyPlantEquipment 2021-12-31 SC243453 bus:OrdinaryShareClass1 2021-12-31 SC243453 bus:OrdinaryShareClass2 2021-12-31 SC243453 bus:OrdinaryShareClass3 2021-12-31 SC243453 bus:OrdinaryShareClass4 2021-12-31 SC243453 2021-01-01 2021-12-31 SC243453 bus:FullAccounts 2021-01-01 2021-12-31 SC243453 bus:SmallEntities 2021-01-01 2021-12-31 SC243453 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 SC243453 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 SC243453 bus:Director1 2021-01-01 2021-12-31 SC243453 core:OtherPropertyPlantEquipment 2021-01-01 2021-12-31 SC243453 2020-01-01 2020-12-31 SC243453 core:CurrentFinancialInstruments 2021-01-01 2021-12-31 SC243453 core:Non-currentFinancialInstruments 2021-01-01 2021-12-31 SC243453 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 SC243453 bus:OrdinaryShareClass1 2020-01-01 2020-12-31 SC243453 bus:OrdinaryShareClass2 2021-01-01 2021-12-31 SC243453 bus:OrdinaryShareClass2 2020-01-01 2020-12-31 SC243453 bus:OrdinaryShareClass3 2021-01-01 2021-12-31 SC243453 bus:OrdinaryShareClass3 2020-01-01 2020-12-31 SC243453 bus:OrdinaryShareClass4 2021-01-01 2021-12-31 SC243453 bus:OrdinaryShareClass4 2020-01-01 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC243453 (Scotland)

HIGHLAND CAPITAL LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH THE REGISTRAR

HIGHLAND CAPITAL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021

Contents

HIGHLAND CAPITAL LTD

BALANCE SHEET

AS AT 31 DECEMBER 2021
HIGHLAND CAPITAL LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2021
Note 2021 2020
£ £
Fixed assets
Tangible assets 3 4,380 47,047
4,380 47,047
Current assets
Stocks 5 122,271 0
Debtors 6 33,660 32,323
Cash at bank and in hand 7 7,575 22,255
163,506 54,578
Creditors
Amounts falling due within one year 8 ( 223,132) ( 109,714)
Net current liabilities (59,626) (55,136)
Total assets less current liabilities (55,246) (8,089)
Creditors
Amounts falling due after more than one year 9 ( 34,512) ( 43,688)
Net liabilities ( 89,758) ( 51,777)
Capital and reserves
Called-up share capital 10 400 400
Capital redemption reserve 20 20
Profit and loss account ( 90,178 ) ( 52,197 )
Total shareholders' deficit ( 89,758) ( 51,777)

For the financial year ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Highland Capital Ltd (registered number: SC243453) were approved and authorised for issue by the Director on 30 August 2022. They were signed on its behalf by:

Mr D M Horne
Director
HIGHLAND CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
HIGHLAND CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Highland Capital Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 6 Kinneddar Mains Steading, Saline, Dunfermline, KY12 9LJ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. The Directors have also confirmed that they will not seek repayment of their Directors Loan account until all other creditors have been settled. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for the provision of financial services.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of services.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

2021 2020
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 4

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2021 80,881 80,881
Additions 380 380
Disposals ( 71,000) ( 71,000)
At 31 December 2021 10,261 10,261
Accumulated depreciation
At 01 January 2021 33,834 33,834
Charge for the financial year 5,443 5,443
Disposals ( 33,396) ( 33,396)
At 31 December 2021 5,881 5,881
Net book value
At 31 December 2021 4,380 4,380
At 31 December 2020 47,047 47,047

4. Fixed asset investments

2021 2020
£ £
Other investments and loans 100 100

5. Stocks

2021 2020
£ £
Work in progress 122,271 0

6. Debtors

2021 2020
£ £
Corporation tax 9,085 18,064
Other debtors 24,575 14,259
33,660 32,323

7. Cash and cash equivalents

2021 2020
£ £
Cash at bank and in hand 7,575 22,255

8. Creditors: amounts falling due within one year

2021 2020
£ £
Bank loans 9,654 6,312
Other creditors 213,478 103,402
223,132 109,714

Bank loans relate to the bounce back loan scheme and are fully covered by a government backed guarantee.

9. Creditors: amounts falling due after more than one year

2021 2020
£ £
Bank loans 34,512 43,688

Bank borrowings relate to the bounce back loan scheme and are fully covered by a government backed guarantee.

10. Called-up share capital

2021 2020
£ £
Allotted, called-up and fully-paid
100 Ordinary "A" shares of £ 1.00 each 100 100
100 Ordinary "B" shares of £ 1.00 each 100 100
100 Ordinary "C" shares of £ 1.00 each 100 100
100 Ordinary "D" shares of £ 1.00 each 100 100
400 400

11. Related party transactions

Transactions with the entity's director

2021 2020
£ £
Amounts owed to Director 212,928 103,402

The above loan is unsecured, interest free and has no fixed terms of repayment.