Silverfin false 29/09/2022 30/09/2021 29/09/2022 Douglas Greig 07/01/2014 17 November 2023 The principal activity of the Company continued to be that of printing, design and web development. SC466832 2022-09-29 SC466832 bus:Director1 2022-09-29 SC466832 2021-09-29 SC466832 core:CurrentFinancialInstruments 2022-09-29 SC466832 core:CurrentFinancialInstruments 2021-09-29 SC466832 core:Non-currentFinancialInstruments 2022-09-29 SC466832 core:Non-currentFinancialInstruments 2021-09-29 SC466832 core:ShareCapital 2022-09-29 SC466832 core:ShareCapital 2021-09-29 SC466832 core:RetainedEarningsAccumulatedLosses 2022-09-29 SC466832 core:RetainedEarningsAccumulatedLosses 2021-09-29 SC466832 core:Goodwill 2021-09-29 SC466832 core:Goodwill 2022-09-29 SC466832 core:LeaseholdImprovements 2021-09-29 SC466832 core:FurnitureFittings 2021-09-29 SC466832 core:OfficeEquipment 2021-09-29 SC466832 core:LeaseholdImprovements 2022-09-29 SC466832 core:FurnitureFittings 2022-09-29 SC466832 core:OfficeEquipment 2022-09-29 SC466832 bus:OrdinaryShareClass1 2022-09-29 SC466832 2021-09-30 2022-09-29 SC466832 bus:FullAccounts 2021-09-30 2022-09-29 SC466832 bus:SmallEntities 2021-09-30 2022-09-29 SC466832 bus:AuditExemptWithAccountantsReport 2021-09-30 2022-09-29 SC466832 bus:PrivateLimitedCompanyLtd 2021-09-30 2022-09-29 SC466832 bus:Director1 2021-09-30 2022-09-29 SC466832 core:Goodwill core:TopRangeValue 2021-09-30 2022-09-29 SC466832 core:LeaseholdImprovements core:TopRangeValue 2021-09-30 2022-09-29 SC466832 core:FurnitureFittings core:TopRangeValue 2021-09-30 2022-09-29 SC466832 core:OfficeEquipment core:TopRangeValue 2021-09-30 2022-09-29 SC466832 2020-09-30 2021-09-29 SC466832 core:Goodwill 2021-09-30 2022-09-29 SC466832 core:LeaseholdImprovements 2021-09-30 2022-09-29 SC466832 core:FurnitureFittings 2021-09-30 2022-09-29 SC466832 core:OfficeEquipment 2021-09-30 2022-09-29 SC466832 core:CurrentFinancialInstruments 2021-09-30 2022-09-29 SC466832 core:Non-currentFinancialInstruments 2021-09-30 2022-09-29 SC466832 bus:OrdinaryShareClass1 2021-09-30 2022-09-29 SC466832 bus:OrdinaryShareClass1 2020-09-30 2021-09-29 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC466832 (Scotland)

HIGHLAND PRINT AND DESIGN LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 29 SEPTEMBER 2022
PAGES FOR FILING WITH THE REGISTRAR

HIGHLAND PRINT AND DESIGN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 SEPTEMBER 2022

Contents

HIGHLAND PRINT AND DESIGN LIMITED

BALANCE SHEET

AS AT 29 SEPTEMBER 2022
HIGHLAND PRINT AND DESIGN LIMITED

BALANCE SHEET (continued)

AS AT 29 SEPTEMBER 2022
Note 2022 2021
£ £
Fixed assets
Intangible assets 3 750 1,250
Tangible assets 4 9,812 9,865
10,562 11,115
Current assets
Stocks 1,750 1,000
Debtors 5 66,358 39,615
Cash at bank and in hand 3,453 1,970
71,561 42,585
Creditors: amounts falling due within one year 6 ( 101,954) ( 80,188)
Net current liabilities (30,393) (37,603)
Total assets less current liabilities (19,831) (26,488)
Creditors: amounts falling due after more than one year 7 ( 26,667) ( 36,667)
Net liabilities ( 46,498) ( 63,155)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 46,598 ) ( 63,255 )
Total shareholders' deficit ( 46,498) ( 63,155)

For the financial year ending 29 September 2022 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 Print and Design Limited (registered number: SC466832) were approved and authorised for issue by the Director on 17 November 2023. They were signed on its behalf by:

Douglas Greig
Director
HIGHLAND PRINT AND DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 SEPTEMBER 2022
HIGHLAND PRINT AND DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 SEPTEMBER 2022
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 Print and Design 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, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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. Post year end the company is forecast to be profitable and has been able to reduce its overheads via relocation to new premises, is reducing its levels of debt when cash-flow allows, has the continued support of its bankers with an overdraft facility in place, and in addition certain creditors have provided extended credit facilities. Accordingly, it is appropriate to continue to adopt the going concern basis in preparing the financial statements.

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.

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.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
Payments to defined contribution retirement schemes are charged as an expense as they fall due.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
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:

Leasehold improvements 5 years straight line
Fixtures and fittings 4 years straight line
Office equipment 4 years straight line
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 .

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

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.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 3

3. Intangible assets

Goodwill Total
£ £
Cost
At 30 September 2021 5,000 5,000
At 29 September 2022 5,000 5,000
Accumulated amortisation
At 30 September 2021 3,750 3,750
Charge for the financial year 500 500
At 29 September 2022 4,250 4,250
Net book value
At 29 September 2022 750 750
At 29 September 2021 1,250 1,250

4. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 30 September 2021 2,486 5,864 37,964 46,314
Additions 3,798 0 560 4,358
At 29 September 2022 6,284 5,864 38,524 50,672
Accumulated depreciation
At 30 September 2021 606 4,248 31,595 36,449
Charge for the financial year 1,117 700 2,594 4,411
At 29 September 2022 1,723 4,948 34,189 40,860
Net book value
At 29 September 2022 4,561 916 4,335 9,812
At 29 September 2021 1,880 1,616 6,369 9,865

5. Debtors

2022 2021
£ £
Trade debtors 42,319 23,938
Amounts owed by director 17,125 9,393
Prepayments 1,252 2,528
Corporation tax 5,662 3,053
Other debtors 0 703
66,358 39,615

6. Creditors: amounts falling due within one year

2022 2021
£ £
Bank loans and overdrafts 10,000 14,809
Trade creditors 20,032 18,153
Accruals 18,342 15,008
Taxation and social security 42,791 22,403
Other creditors 10,789 9,815
101,954 80,188

Bank loans and overdrafts consists of a Coronavirus Bounce Back loan of £10,000 which is guaranteed by the UK government.

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

2022 2021
£ £
Bank loans 26,667 36,667

Bank loans consists of a Coronavirus Bounce Back loan of £26,667 which is guaranteed by the UK government.

8. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Financial commitments

Commitments

2022 2021
£ £
Total future minimum lease payments under non-cancellable operating lease 4,500 2,500

10. Related party transactions

Transactions with the entity's director

2022 2021
£ £
Amounts due from key management personnel 17,125 9,393

During the year the director was advanced monies of £7,405. Interest has been charged on the overdrawn loan account at 2.5% resulting in interest of £327 and a year end balance of £17,125.

Other related party transactions

2022 2021
£ £
Other related parties 0 2,131

The other related party loan is unsecured and interest free.