Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr D M Horne 06/02/2003 11 June 2024 The principal activity of the Company during the financial year was that of property development. SC243453 2023-12-31 SC243453 bus:Director1 2023-12-31 SC243453 2022-12-31 SC243453 core:CurrentFinancialInstruments 2023-12-31 SC243453 core:CurrentFinancialInstruments 2022-12-31 SC243453 core:Non-currentFinancialInstruments 2023-12-31 SC243453 core:Non-currentFinancialInstruments 2022-12-31 SC243453 core:ShareCapital 2023-12-31 SC243453 core:ShareCapital 2022-12-31 SC243453 core:CapitalRedemptionReserve 2023-12-31 SC243453 core:CapitalRedemptionReserve 2022-12-31 SC243453 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC243453 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC243453 bus:OrdinaryShareClass1 2023-12-31 SC243453 bus:OrdinaryShareClass2 2023-12-31 SC243453 bus:OrdinaryShareClass3 2023-12-31 SC243453 bus:OrdinaryShareClass4 2023-12-31 SC243453 2023-01-01 2023-12-31 SC243453 bus:FilletedAccounts 2023-01-01 2023-12-31 SC243453 bus:SmallEntities 2023-01-01 2023-12-31 SC243453 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC243453 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC243453 bus:Director1 2023-01-01 2023-12-31 SC243453 2022-01-01 2022-12-31 SC243453 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 SC243453 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 SC243453 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC243453 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 SC243453 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 SC243453 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 SC243453 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 SC243453 bus:OrdinaryShareClass3 2022-01-01 2022-12-31 SC243453 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 SC243453 bus:OrdinaryShareClass4 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC243453 (Scotland)

HIGHLAND CAPITAL LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

HIGHLAND CAPITAL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

HIGHLAND CAPITAL LTD

BALANCE SHEET

AS AT 31 DECEMBER 2023
HIGHLAND CAPITAL LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Current assets
Stocks 3 436,937 282,062
Debtors 4 400 22,992
Cash at bank and in hand 5 1,463 12,044
438,800 317,098
Creditors: amounts falling due within one year 6 ( 613,529) ( 454,302)
Net current liabilities (174,729) (137,204)
Total assets less current liabilities (174,729) (137,204)
Creditors: amounts falling due after more than one year 7 ( 14,043) ( 24,259)
Net liabilities ( 188,772) ( 161,463)
Capital and reserves
Called-up share capital 8 400 400
Capital redemption reserve 20 20
Profit and loss account ( 189,192 ) ( 161,883 )
Total shareholders' deficit ( 188,772) ( 161,463)

For the financial year ending 31 December 2023 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 11 June 2024. 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 2023
HIGHLAND CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 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 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 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. The Director has 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 sale of real estate.

Revenue is recognised when the company has entitlement to the income in exchange for the sale of real estate.

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 balance sheet date, the company reviews 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 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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Stocks

2023 2022
£ £
Work in progress 436,937 282,062

4. Debtors

2023 2022
£ £
Other debtors 400 22,992

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 1,463 12,044

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,124 9,907
Other creditors 603,405 444,395
613,529 454,302

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

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

2023 2022
£ £
Bank loans 14,043 24,259

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

8. Called-up share capital

2023 2022
£ £
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

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts owed to director 600,723 441,328

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