Registered number: SC230078
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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HIGHLAND STONEWAYS LIMITED
COMPANY INFORMATION
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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
Chartered Accountants
Westby
64 West High Street
Angus
DD8 1BJ
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HIGHLAND STONEWAYS LIMITED
REGISTERED NUMBER: SC230078
STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024
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HIGHLAND STONEWAYS LIMITED
REGISTERED NUMBER: SC230078
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024
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
The notes on pages 4 to 8 form part of these financial statements.
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HIGHLAND STONEWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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
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:
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HIGHLAND STONEWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2.ACCOUNTING POLICIES (CONTINUED)
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:
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.
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HIGHLAND STONEWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2.ACCOUNTING POLICIES (CONTINUED)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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.
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HIGHLAND STONEWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
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.
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HIGHLAND STONEWAYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
6.SHARE CAPITAL (CONTINUED)
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