Silverfin false 30/04/2023 01/05/2022 30/04/2023 Anna Mulholland 19/06/2019 Francis Mulholland 08/07/1992 James Mulholland 19/06/2019 Neil Stewart 28/07/2021 18 October 2023 The principal activity of the Company during the financial year continued to be the development and running of a retirement village. SC139196 2023-04-30 SC139196 bus:Director1 2023-04-30 SC139196 bus:Director2 2023-04-30 SC139196 bus:Director3 2023-04-30 SC139196 bus:Director4 2023-04-30 SC139196 2022-04-30 SC139196 core:CurrentFinancialInstruments 2023-04-30 SC139196 core:CurrentFinancialInstruments 2022-04-30 SC139196 core:ShareCapital 2023-04-30 SC139196 core:ShareCapital 2022-04-30 SC139196 core:SharePremium 2023-04-30 SC139196 core:SharePremium 2022-04-30 SC139196 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC139196 core:RetainedEarningsAccumulatedLosses 2022-04-30 SC139196 core:LandBuildings 2022-04-30 SC139196 core:OtherPropertyPlantEquipment 2022-04-30 SC139196 core:LandBuildings 2023-04-30 SC139196 core:OtherPropertyPlantEquipment 2023-04-30 SC139196 bus:OrdinaryShareClass1 2023-04-30 SC139196 2022-05-01 2023-04-30 SC139196 bus:FullAccounts 2022-05-01 2023-04-30 SC139196 bus:SmallEntities 2022-05-01 2023-04-30 SC139196 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 SC139196 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 SC139196 bus:Director1 2022-05-01 2023-04-30 SC139196 bus:Director2 2022-05-01 2023-04-30 SC139196 bus:Director3 2022-05-01 2023-04-30 SC139196 bus:Director4 2022-05-01 2023-04-30 SC139196 core:LandBuildings core:BottomRangeValue 2022-05-01 2023-04-30 SC139196 core:LandBuildings core:TopRangeValue 2022-05-01 2023-04-30 SC139196 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-05-01 2023-04-30 SC139196 2021-05-01 2022-04-30 SC139196 core:LandBuildings 2022-05-01 2023-04-30 SC139196 core:OtherPropertyPlantEquipment 2022-05-01 2023-04-30 SC139196 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 SC139196 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC139196 (Scotland)

HIGHLAND KIN LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH THE REGISTRAR

HIGHLAND KIN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023

Contents

HIGHLAND KIN LIMITED

BALANCE SHEET

AS AT 30 APRIL 2023
HIGHLAND KIN LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 137,989 157,333
137,989 157,333
Current assets
Debtors 4 23,081 40,129
Cash at bank and in hand 13,320 16,007
36,401 56,136
Creditors: amounts falling due within one year 5 ( 2,750) ( 9,940)
Net current assets 33,651 46,196
Total assets less current liabilities 171,640 203,529
Provision for liabilities ( 2,206) ( 3,002)
Net assets 169,434 200,527
Capital and reserves
Called-up share capital 6 3 3
Share premium account 15,765 15,765
Profit and loss account 153,666 184,759
Total shareholders' funds 169,434 200,527

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Highland Kin Limited (registered number: SC139196) were approved and authorised for issue by the Director on 18 October 2023. They were signed on its behalf by:

Francis Mulholland
Director
HIGHLAND KIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
HIGHLAND KIN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
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 Kin Limited (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 Clava House, Cradlehall Business Park, Inverness, IV2 5GH, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 20 - 25 years straight line
Plant and machinery etc. 4 years straight line

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.

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 Statement of Income and Retained Earnings.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and 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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 May 2022 401,446 28,208 429,654
At 30 April 2023 401,446 28,208 429,654
Accumulated depreciation
At 01 May 2022 256,524 15,797 272,321
Charge for the financial year 16,158 3,186 19,344
At 30 April 2023 272,682 18,983 291,665
Net book value
At 30 April 2023 128,764 9,225 137,989
At 30 April 2022 144,922 12,411 157,333

4. Debtors

2023 2022
£ £
Corporation tax 2,908 0
Other debtors 20,173 40,129
23,081 40,129

5. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 0 7,460
Other creditors 2,750 2,480
2,750 9,940

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
25 Ordinary shares of £ 0.10 each 3 3

7. Ultimate controlling party

Parent Company:

Navigator Investments PTY Limited