HEIGHTHILLS UK SOLUTIONS LIMITED
Statement of financial position
as at 28 February 2024
Cash at bank and in hand
197
66
Creditors: amounts falling due within one year
(9,927)
(26,766)
Net current liabilities
(9,730)
(26,700)
Total assets less current liabilities
(9,730)
(13,957)
Creditors: amounts falling due after more than one year
(19,463)
(8,877)
Net liabilities
(29,193)
(22,834)
Called up share capital
100
100
Profit and loss account
(29,293)
(22,934)
Shareholders' funds
(29,193)
(22,834)
For the period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2024 and were signed on its behalf by
Mr Lawrence Agboola Olaleye
Director
Company Registration No. SC525767
HEIGHTHILLS UK SOLUTIONS LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
HEIGHTHILLS UK SOLUTIONS LIMITED is a private company, limited by shares, registered in Scotland, registration number SC525767. The registered office is 39 Ellerslie Road, Glasgow, Lanarkshire, G14 0BF, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the period from 1 March 2023 to 28 February 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 March 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Derecognition of fixed assets
Tangible fixed asset should be derecognised either on disposal or when no future economic benefits are expected from its use being scrapped due to obsolete or no longer in use, and there is no resale market for it. A gain or loss on disposal is recognised as the difference between the disposal proceeds and the carrying amount of the asset at the date of disposal. This gain or loss is included in the statement of profit or loss – the disposal proceeds should not be recognised as revenue.
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
HEIGHTHILLS UK SOLUTIONS LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
4
Tangible fixed assets
Motor vehicles
At 28 February 2023
12,743
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
36
Loans from directors
-
26,066
6
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
8,877
7
Average number of employees
During the period the average number of employees was 1 (2023: 0).