IRIS Accounts Production v24.1.0.578 SC604780 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC6047802022-12-31SC6047802023-12-31SC6047802023-01-012023-12-31SC6047802021-12-31SC6047802022-01-012022-12-31SC6047802022-12-31SC604780ns15:Scotland2023-01-012023-12-31SC604780ns14:PoundSterling2023-01-012023-12-31SC604780ns10:Director12023-01-012023-12-31SC604780ns10:Director22023-01-012023-12-31SC604780ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC604780ns10:SmallEntities2023-01-012023-12-31SC604780ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC604780ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC604780ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC604780ns10:FullAccounts2023-01-012023-12-31SC604780ns10:Director32023-01-012023-12-31SC604780ns10:Director42023-01-012023-12-31SC604780ns10:Director52023-01-012023-12-31SC604780ns10:Director62023-01-012023-12-31SC604780ns10:Director72023-01-012023-12-31SC604780ns10:Director82023-01-012023-12-31SC604780ns10:Director92023-01-012023-12-31SC604780ns10:Director102023-01-012023-12-31SC604780ns10:CompanySecretary12023-01-012023-12-31SC604780ns10:RegisteredOffice2023-01-012023-12-31SC604780ns5:CurrentFinancialInstruments2023-12-31SC604780ns5:CurrentFinancialInstruments2022-12-31SC604780ns5:ShareCapital2023-12-31SC604780ns5:ShareCapital2022-12-31SC604780ns5:RetainedEarningsAccumulatedLosses2023-12-31SC604780ns5:RetainedEarningsAccumulatedLosses2022-12-31SC604780ns5:PlantMachinery2022-12-31SC604780ns5:PlantMachinery2023-01-012023-12-31SC604780ns5:PlantMachinery2023-12-31SC604780ns5:PlantMachinery2022-12-31SC604780ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC604780ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: SC604780 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

HGVC Trading Limited

HGVC Trading Limited (Registered number: SC604780)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HGVC Trading Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P D Geddes
D W Geddes
R G Lovie
S C Macbride
J F Mcleish
Ms S L Mclennan
W A Meston
C Hunter
P Fraser
A Clark





SECRETARY: Mrs M McCombie





REGISTERED OFFICE: The Duke of Rothesay
Broombank Terrace
Braemar
Aberdeenshire
AB35 5YX





REGISTERED NUMBER: SC604780 (Scotland)





ACCOUNTANTS: The Grant Considine Partnership
Chartered Accountants
46 High Street
Banchory
Aberdeenshire
AB31 5SR

HGVC Trading Limited (Registered number: SC604780)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,324 1,256

CURRENT ASSETS
Stocks 10,502 9,183
Debtors 6 2,196 1,705
Cash at bank and in hand 16,895 53,419
29,593 64,307
CREDITORS
Amounts falling due within one year 7 109,453 108,534
NET CURRENT LIABILITIES (79,860 ) (44,227 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(78,536

)

(42,971

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (78,538 ) (42,973 )
(78,536 ) (42,971 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:




C Hunter - Director



P Fraser - Director


HGVC Trading Limited (Registered number: SC604780)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

HGVC Trading Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is measured at fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax.

Income is recognised when the service has been provided, when the amount of revenue can be measured reliably and when its probable that future economic benefits will flow to the entity. If a customer has not been invoiced for services provided during the period the income is accrued and included in debtors under prepayments and accrued income.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Plant & Machinery- 25% on reducing balance

Inventories
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

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.

HGVC Trading Limited (Registered number: SC604780)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 2,150
Additions 470
At 31 December 2023 2,620
DEPRECIATION
At 1 January 2023 894
Charge for year 402
At 31 December 2023 1,296
NET BOOK VALUE
At 31 December 2023 1,324
At 31 December 2022 1,256

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,473 426
Other debtors 723 1,279
2,196 1,705

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 104,673 104,673
Taxation and social security 2,026 -
Other creditors 2,754 3,861
109,453 108,534

8. GOING CONCERN

The company's going concern status depends upon the continued support from the parent company; Braemar Royal Highland Charity.