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REGISTERED NUMBER: SC299000 (Scotland)















Highland Coatings Limited

Financial Statements For The Year Ended 30 September 2024






Highland Coatings Limited (Registered number: SC299000)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Highland Coatings Limited

Company Information
For The Year Ended 30 September 2024







DIRECTORS: M Maclennan
D MacLennan





REGISTERED OFFICE: 5 Torran Beag
Croy
Inverness-Shire
IV2 5PG





REGISTERED NUMBER: SC299000 (Scotland)





ACCOUNTANTS: The Long Partnership
1st Floor
Robertson House
Shore Street
Inverness
Highland
IV1 1NF

Highland Coatings Limited (Registered number: SC299000)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,369 19,809

CURRENT ASSETS
Stocks 1,000 2,000
Debtors 5 987 9,851
Cash at bank 7,896 7,474
9,883 19,325
CREDITORS
Amounts falling due within one year 6 23,457 22,425
NET CURRENT LIABILITIES (13,574 ) (3,100 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,795

16,709

CREDITORS
Amounts falling due after more than one
year

7

(5,676

)

(9,319

)

PROVISIONS FOR LIABILITIES (2,920 ) (3,764 )
NET (LIABILITIES)/ASSETS (6,801 ) 3,626

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (6,803 ) 3,624
SHAREHOLDERS' FUNDS (6,801 ) 3,626

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

Highland Coatings Limited (Registered number: SC299000)

Balance Sheet - continued
30 September 2024


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 5 November 2024 and were signed on its behalf by:





M Maclennan - Director


Highland Coatings Limited (Registered number: SC299000)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

Highland Coatings 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.

2. ACCOUNTING POLICIES

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

As at 30 September 2024 the company had net current liabilities of £13,574 ( 2023 - £3,100) and net liabilities of £6,801 ( 2023 - net assets £3,626).

The directors consider it appropriate to prepare the accounts under the going concern basis as they will not seek to be repaid their directors loan of £14,943 in preference to any other creditors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance and 15% on reducing balance

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Highland Coatings Limited (Registered number: SC299000)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 October 2023
and 30 September 2024 33,775
DEPRECIATION
At 1 October 2023 13,966
Charge for year 4,440
At 30 September 2024 18,406
NET BOOK VALUE
At 30 September 2024 15,369
At 30 September 2023 19,809

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 987 9,851

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Taxation and social security 4,464 2,392
Other creditors 18,993 20,033
23,457 22,425

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Other creditors 5,676 9,319