Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Current assets | ||||
Stocks | 3 |
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Debtors | 4 |
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Cash at bank and in hand | 5 |
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438,800 | 317,098 | |||
Creditors: amounts falling due within one year | 6 | (
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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 | (
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 8 |
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Capital redemption reserve |
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Profit and loss account | (
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Total shareholders' deficit | (
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Director's responsibilities:
The financial statements of Highland Capital Ltd (registered number:
Mr D M Horne
Director |
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.
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 £.
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.
Revenue is recognised when the company has entitlement to the income in exchange for the sale of real estate.
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
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).
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.
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.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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2023 | 2022 | ||
£ | £ | ||
Work in progress |
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2023 | 2022 | ||
£ | £ | ||
Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Cash at bank and in hand |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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400 | 400 |
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.