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REGISTERED NUMBER: SC262923 (Scotland)















Highland House of Fraser Limited

Financial Statements For The Year Ended 31 January 2024






Highland House of Fraser Limited (Registered number: SC262923)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Highland House of Fraser Limited

Company Information
For The Year Ended 31 January 2024







DIRECTORS: W Fraser
Mrs S M Fraser





SECRETARY: W Fraser





REGISTERED OFFICE: Park House Centre
South Street
Elgin
Moray
IV30 1JB





REGISTERED NUMBER: SC262923 (Scotland)





ACCOUNTANTS: The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB

Highland House of Fraser Limited (Registered number: SC262923)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 560,144 563,044
560,144 563,044

CURRENT ASSETS
Stocks 231,008 176,380
Debtors 6 126,420 67,385
Cash at bank and in hand 139,351 188,300
496,779 432,065
CREDITORS
Amounts falling due within one year 7 88,333 45,840
NET CURRENT ASSETS 408,446 386,225
TOTAL ASSETS LESS CURRENT
LIABILITIES

968,590

949,269

CREDITORS
Amounts falling due after more than one
year

8

(314,337

)

(363,724

)

PROVISIONS FOR LIABILITIES 10 (16 ) (515 )
NET ASSETS 654,237 585,030

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 654,137 584,930
SHAREHOLDERS' FUNDS 654,237 585,030

Highland House of Fraser Limited (Registered number: SC262923)

Balance Sheet - continued
31 January 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 22 January 2025 and were signed on its behalf by:




W Fraser - Director



Mrs S M Fraser - Director


Highland House of Fraser Limited (Registered number: SC262923)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

Highland House of Fraser 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.

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

Goodwill
Goodwill is the amount paid in connection with the acquisition of a business in 2004. After initially being amortised evenly over its estimated useful life of twenty years, the remainder(since 1 February 2016) is now being amortised evenly over its remaining estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 10% on cost

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.

Highland House of Fraser Limited (Registered number: SC262923)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 107,000 7,405 114,405
AMORTISATION
At 1 February 2023
and 31 January 2024 107,000 7,405 114,405
NET BOOK VALUE
At 31 January 2024 - - -
At 31 January 2023 - - -

5. TANGIBLE FIXED ASSETS
Land and
buildings Equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 558,812 212,610 771,422
DEPRECIATION
At 1 February 2023 - 208,378 208,378
Charge for year - 2,900 2,900
At 31 January 2024 - 211,278 211,278
NET BOOK VALUE
At 31 January 2024 558,812 1,332 560,144
At 31 January 2023 558,812 4,232 563,044

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors - 12,917
Other debtors 126,420 54,468
126,420 67,385

Highland House of Fraser Limited (Registered number: SC262923)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 27,248 13,351
Taxation and social security 31,109 8,603
Other creditors 29,976 23,886
88,333 45,840

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Other creditors 314,337 363,724

9. SECURED DEBTS

The Royal Bank of Scotland has a bond and floating charge over the assets of the company.

10. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 16 515

Deferred
tax
£   
Balance at 1 February 2023 515
Provided during year (499 )
Balance at 31 January 2024 16

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 February 2023 584,930
Profit for the year 69,207
At 31 January 2024 654,137

Highland House of Fraser Limited (Registered number: SC262923)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
W Fraser and Mrs S M Fraser
Balance outstanding at start of year 363,724 415,248
Amounts repaid (49,387 ) (51,524 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 314,337 363,724

14. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs S M Fraser.

The ultimate controlling party is Mrs S M Fraser.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Highland House of Fraser Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

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 House of Fraser Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Highland House of Fraser Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Highland House of Fraser Limited and state those matters that we have agreed to state to the Board of Directors of Highland House of Fraser Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Highland House of Fraser Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Highland House of Fraser 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 House of Fraser Limited. You consider that Highland House of Fraser Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Highland House of Fraser 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.






The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB


22 January 2025