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REGISTERED NUMBER: SC401272 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Highly Strung Rigging Ltd

Highly Strung Rigging Ltd (Registered number: SC401272)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Highly Strung Rigging Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: J McCabe





REGISTERED OFFICE: 15 Kirkriggs Avenue
Rutherglen
Glasgow
G73 4LG





REGISTERED NUMBER: SC401272 (Scotland)





ACCOUNTANTS: McDougall Johnstone Limited
280a St Vincent Street
Glasgow
G2 5RL

Highly Strung Rigging Ltd (Registered number: SC401272)

Abridged Balance Sheet
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,848 2,857

CURRENT ASSETS
Debtors 192,901 232,113
Cash at bank 394,461 205,464
587,362 437,577
CREDITORS
Amounts falling due within one year (154,932 ) (101,774 )
NET CURRENT ASSETS 432,430 335,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

436,278

338,660

CREDITORS
Amounts falling due after more than one year (7,088 ) (18,751 )

PROVISIONS FOR LIABILITIES (851 ) (714 )
NET ASSETS 428,339 319,195

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 428,338 319,194
428,339 319,195

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Highly Strung Rigging Ltd (Registered number: SC401272)

Abridged Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 6 November 2024 and were signed by:





J McCabe - Director


Highly Strung Rigging Ltd (Registered number: SC401272)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Highly Strung Rigging Ltd 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.

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.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Highly Strung Rigging Ltd (Registered number: SC401272)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 7,225
Additions 2,348
At 30 June 2024 9,573
DEPRECIATION
At 1 July 2023 4,368
Charge for year 1,357
At 30 June 2024 5,725
NET BOOK VALUE
At 30 June 2024 3,848
At 30 June 2023 2,857

5. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 11,383 11,103

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,088 18,751

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, there was a balance of £Nil (2023: Dr £62,288) due from the company to its Director Mr Joseph McCabe.

7. ULTIMATE CONTROLLING PARTY

Director and Shareholder Mr Joseph McCabe is the ultimate controlling party of Highly Strung Rigging Ltd.