1 November 2022 false No description of principal activity Taxfiler 2024.5 SC488034business:PrivateLimitedCompanyLtd2022-11-012023-10-31 SC4880342022-10-31 SC4880342022-11-012023-10-31 SC488034business:AuditExemptWithAccountantsReport2022-11-012023-10-31 SC488034business:FilletedAccounts2022-11-012023-10-31 SC4880342023-10-31 SC488034business:Director12022-11-012023-10-31 SC488034business:Director22022-11-012023-10-31 SC488034business:RegisteredOffice2022-11-012023-10-31 SC4880342022-10-31 SC488034core:WithinOneYear2023-10-31 SC488034core:WithinOneYear2022-10-31 SC488034core:AfterOneYear2023-10-31 SC488034core:AfterOneYear2022-10-31 SC488034core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 SC488034core:ShareCapitalcore:PreviouslyStatedAmount2022-10-31 SC488034core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 SC488034core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-10-31 SC488034core:PreviouslyStatedAmount2023-10-31 SC488034core:PreviouslyStatedAmount2022-10-31 SC488034business:SmallEntities2022-11-012023-10-31 SC488034countries:Scotland2022-11-012023-10-31 SC488034core:PlantMachinery2022-11-012023-10-31 SC488034core:MotorVehicles2022-11-012023-10-31 SC488034core:ComputerEquipment2022-11-012023-10-31 SC488034core:PlantMachinery2022-10-31 SC488034core:MotorVehicles2022-10-31 SC488034core:ComputerEquipment2022-10-31 SC488034core:PlantMachinery2023-10-31 SC488034core:MotorVehicles2023-10-31 SC488034core:ComputerEquipment2023-10-31 SC488034core:MotorVehiclescore:LeasedAssetsHeldAsLessee2023-10-31 SC488034core:MotorVehiclescore:LeasedAssetsHeldAsLessee2022-10-31 SC4880342021-11-012022-10-31 iso4217:GBP xbrli:pure
Company Registration No. SC488034 (Scotland)
Highland Contracts Ltd Unaudited accounts for the year ended 31 October 2023
Highland Contracts Ltd Unaudited accounts Contents
Page
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Highland Contracts Ltd Company Information for the year ended 31 October 2023
Directors
Patrick Flint Paul Flint
Company Number
SC488034 (Scotland)
Registered Office
15 Clanranald Crescent Stratton Inverness IV2 7BB
Accountants
CMM Accountancy (Inverness) Limited The Green House Beechwood Business Park North Inverness IV2 3BL
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Highland Contracts Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
129,597 
70,650 
Current assets
Inventories
47,521 
45,346 
Debtors
113,769 
133,529 
Cash at bank and in hand
71,700 
28,754 
232,990 
207,629 
Creditors: amounts falling due within one year
(150,501)
(105,253)
Net current assets
82,489 
102,376 
Total assets less current liabilities
212,086 
173,026 
Creditors: amounts falling due after more than one year
(110,018)
(71,675)
Provisions for liabilities
Deferred tax
(3,444)
(2,139)
Net assets
98,624 
99,212 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
98,622 
99,210 
Shareholders' funds
98,624 
99,212 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by
Patrick Flint Director Company Registration No. SC488034
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Highland Contracts Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Highland Contracts Ltd is a private company, limited by shares, registered in Scotland, registration number SC488034. The registered office is 15 Clanranald Crescent, Stratton, Inverness, IV2 7BB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
20% reducing balance
Computer equipment
25% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
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 accounts. 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.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Highland Contracts Ltd Notes to the Accounts for the year ended 31 October 2023
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2022
9,609 
79,533 
293 
89,435 
Additions
6,183 
79,480 
248 
85,911 
Disposals
(1,057)
- 
- 
(1,057)
At 31 October 2023
14,735 
159,013 
541 
174,289 
Depreciation
At 1 November 2022
3,881 
14,898 
6 
18,785 
Charge for the year
2,371 
24,029 
135 
26,535 
On disposals
(628)
- 
- 
(628)
At 31 October 2023
5,624 
38,927 
141 
44,692 
Net book value
At 31 October 2023
9,111 
120,086 
400 
129,597 
At 31 October 2022
5,728 
64,635 
287 
70,650 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
115,821 
62,094 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
23,264 
15,683 
Accrued income and prepayments
71 
330 
Other debtors
90,434 
117,516 
113,769 
133,529 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
7,069 
6,894 
Obligations under finance leases and hire purchase contracts
17,626 
12,469 
Trade creditors
14,222 
2,149 
Taxes and social security
93,884 
57,385 
Other creditors
11,410 
25,886 
Accruals
6,290 
470 
150,501 
105,253 
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Highland Contracts Ltd Notes to the Accounts for the year ended 31 October 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
11,560 
18,628 
Obligations under finance leases and hire purchase contracts
98,458 
53,047 
110,018 
71,675 
8
Loans to directors
Included in other debtors is a loan to the director Patrick Flint for £6,806 (2022- £30,097). The loan has no fixed terms of repayment, is unsecured and attracts interest at the statutory rate. Included in other debtors is a loan to the director Paul Flint for £4,492 (2022 - £26,253). The loan has no fixed terms of repayment, is unsecured and attracts interest at the statutory rate.
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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