Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30true102023-05-01falseconstruction and maintenance of drystone dykes8trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC230078 2023-05-01 2024-04-30 SC230078 2022-05-01 2023-04-30 SC230078 2024-04-30 SC230078 2023-04-30 SC230078 c:CompanySecretary1 2023-05-01 2024-04-30 SC230078 c:Director1 2023-05-01 2024-04-30 SC230078 c:Director2 2023-05-01 2024-04-30 SC230078 c:RegisteredOffice 2023-05-01 2024-04-30 SC230078 d:PlantMachinery 2023-05-01 2024-04-30 SC230078 d:PlantMachinery 2024-04-30 SC230078 d:PlantMachinery 2023-04-30 SC230078 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC230078 d:MotorVehicles 2023-05-01 2024-04-30 SC230078 d:MotorVehicles 2024-04-30 SC230078 d:MotorVehicles 2023-04-30 SC230078 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC230078 d:OfficeEquipment 2023-05-01 2024-04-30 SC230078 d:OfficeEquipment 2024-04-30 SC230078 d:OfficeEquipment 2023-04-30 SC230078 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC230078 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC230078 d:CurrentFinancialInstruments 2024-04-30 SC230078 d:CurrentFinancialInstruments 2023-04-30 SC230078 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 SC230078 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 SC230078 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 SC230078 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 SC230078 d:ShareCapital 2024-04-30 SC230078 d:ShareCapital 2023-04-30 SC230078 d:RetainedEarningsAccumulatedLosses 2024-04-30 SC230078 d:RetainedEarningsAccumulatedLosses 2023-04-30 SC230078 c:OrdinaryShareClass1 2023-05-01 2024-04-30 SC230078 c:OrdinaryShareClass1 2024-04-30 SC230078 c:OrdinaryShareClass1 2023-04-30 SC230078 c:FRS102 2023-05-01 2024-04-30 SC230078 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC230078 c:FullAccounts 2023-05-01 2024-04-30 SC230078 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC230078 2 2023-05-01 2024-04-30 SC230078 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC230078










HIGHLAND STONEWAYS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

 
HIGHLAND STONEWAYS LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr H G Smith 
Mrs I J Smith 




COMPANY SECRETARY
Mrs I J Smith



REGISTERED NUMBER
SC230078



REGISTERED OFFICE
Westby
64 West High Street

Forfar

Angus

DD8 1BJ




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
HIGHLAND STONEWAYS LIMITED
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HIGHLAND STONEWAYS LIMITED
FOR THE YEAR ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Highland Stoneways Limited for the year ended 30 April 2024 which comprise  the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotlandwe are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas -framework-preparation -of-accounts.

This report is made solely to the Board of directors of Highland Stoneways Limited, as a body, in accordance with the terms of our engagement letter dated 04 November 2022Our work has been undertaken solely to prepare for your approval the financial statements of Highland Stoneways Limited and state those matters that we have agreed to state to the Board of directors of Highland Stoneways Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://icas.com/icas -framework-preparation -of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Highland Stoneways Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Highland Stoneways Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Highland Stoneways Limited. You consider that Highland Stoneways Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Highland Stoneways Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



EQ Accountants Limited
 
Chartered Accountants
  
Westby
64 West High Street
Forfar
Angus
DD8 1BJ
26 November 2024
Page 1

 
HIGHLAND STONEWAYS LIMITED
REGISTERED NUMBER: SC230078

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
£
£

FIXED ASSETS
  

Tangible assets
 4 
542,511
350,767

  
542,511
350,767

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
395,304
379,981

Cash at bank and in hand
  
78,263
416

  
473,567
380,397

Creditors: amounts falling due within one year
  
(213,906)
(323,669)

NET CURRENT ASSETS
  
 
 
259,661
 
 
56,728

TOTAL ASSETS LESS CURRENT LIABILITIES
  
802,172
407,495

Creditors: amounts falling due after more than one year
  
(175,217)
(136,605)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(127,175)
-

  
 
 
(127,175)
 
 
-

NET ASSETS
  
499,780
270,890


CAPITAL AND RESERVES
  

Called up share capital 
  
205
205

Profit and loss account
  
499,575
270,685

  
499,780
270,890


Page 2

 
HIGHLAND STONEWAYS LIMITED
REGISTERED NUMBER: SC230078

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 November 2024.




Mrs I J Smith
Mr H G Smith
Director
Director

The notes on pages 4 to 8 form part of these financial statements.
Page 3

 
HIGHLAND STONEWAYS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

The company is limited by shares and incorporated in Scotland. The address of the registered office is Westby, 64 West High Street, Forfar, DD8 1BJ. 

The financial statements are presented in Sterling which is the functional currency of the Company and
rounded to the nearest £.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
HIGHLAND STONEWAYS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
12.5%
Motor vehicles
-
25.0%
Office equipment
-
25.0%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
HIGHLAND STONEWAYS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.8

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.9

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 10 (2023 - 8).

Page 6

 
HIGHLAND STONEWAYS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



COST OR VALUATION


At 1 May 2023
522,267
135,963
3,543
661,773


Additions
160,550
230,290
-
390,840


Disposals
(57,095)
(92,773)
-
(149,868)



At 30 April 2024

625,722
273,480
3,543
902,745



DEPRECIATION


At 1 May 2023
230,112
78,478
2,416
311,006


Charge for the year on owned assets
53,762
55,124
282
109,168


Disposals
(34,457)
(25,483)
-
(59,940)



At 30 April 2024

249,417
108,119
2,698
360,234



NET BOOK VALUE



At 30 April 2024
376,305
165,361
845
542,511



At 30 April 2023
292,155
57,485
1,127
350,767


5.


DEBTORS

2024
2023
£
£


Trade debtors
149,416
160,809

Other debtors
160,406
13,560

Prepayments and accrued income
85,482
205,612

395,304
379,981


Included within other debtors due within one year is a loans to H Smith and I Smith, directors, amounting to £154,707 (2023 - £0). £292,049 was advanced during the year and £106,376 was repaid. The main conditions were as follows:

Interest is charged at the official interest rate of 2.25%. The loan is repayable on demand.


6.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



205 (2023 - 205) Ordinary shares of £1.00 each
205
205
Page 7

 
HIGHLAND STONEWAYS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.SHARE CAPITAL (CONTINUED)




Page 8