Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Catherine Mackay 06/08/2002 Donald Mackay 31/12/1988 27 January 2025 The principal activity of the Company during the financial year was investment property rental. SC085203 2024-04-30 SC085203 bus:Director1 2024-04-30 SC085203 bus:Director2 2024-04-30 SC085203 2023-04-30 SC085203 core:CurrentFinancialInstruments 2024-04-30 SC085203 core:CurrentFinancialInstruments 2023-04-30 SC085203 core:ShareCapital 2024-04-30 SC085203 core:ShareCapital 2023-04-30 SC085203 core:FurtherSpecificReserve1ComponentTotalEquity 2024-04-30 SC085203 core:FurtherSpecificReserve1ComponentTotalEquity 2023-04-30 SC085203 core:CapitalRedemptionReserve 2024-04-30 SC085203 core:CapitalRedemptionReserve 2023-04-30 SC085203 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC085203 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC085203 core:OtherPropertyPlantEquipment 2023-04-30 SC085203 core:OtherPropertyPlantEquipment 2024-04-30 SC085203 2022-04-30 SC085203 bus:OrdinaryShareClass1 2024-04-30 SC085203 2023-05-01 2024-04-30 SC085203 bus:FilletedAccounts 2023-05-01 2024-04-30 SC085203 bus:SmallEntities 2023-05-01 2024-04-30 SC085203 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC085203 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC085203 bus:Director1 2023-05-01 2024-04-30 SC085203 bus:Director2 2023-05-01 2024-04-30 SC085203 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 SC085203 2022-05-01 2023-04-30 SC085203 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC085203 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC085203 (Scotland)

HIGHLAND CONSTRUCTION SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

HIGHLAND CONSTRUCTION SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

HIGHLAND CONSTRUCTION SERVICES LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024
HIGHLAND CONSTRUCTION SERVICES LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 64,419 84,659
Investment property 4 1,750,000 1,006,250
1,814,419 1,090,909
Current assets
Debtors 5 46,526 85,340
Cash at bank and in hand 6 425,327 268,026
471,853 353,366
Creditors: amounts falling due within one year 7 ( 152,433) ( 87,883)
Net current assets 319,420 265,483
Total assets less current liabilities 2,133,839 1,356,392
Provision for liabilities 8 ( 174,566) ( 4,892)
Net assets 1,959,273 1,351,500
Capital and reserves
Called-up share capital 9 6,000 6,000
Fair value reserve 1,285,350 541,600
Capital redemption reserve 4,000 4,000
Profit and loss account 663,923 799,900
Total shareholder's funds 1,959,273 1,351,500

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Highland Construction Services Limited (registered number: SC085203) were approved and authorised for issue by the Board of Directors on 27 January 2025. They were signed on its behalf by:

Donald Mackay
Director
HIGHLAND CONSTRUCTION SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
HIGHLAND CONSTRUCTION SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Highland Construction Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Tomich Industrial Estate, Tomich Industrial Estate, Muir Of Ord, IV6 7WA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 109,935 109,935
Additions 749 749
Disposals ( 1,282) ( 1,282)
At 30 April 2024 109,402 109,402
Accumulated depreciation
At 01 May 2023 25,276 25,276
Charge for the financial year 20,175 20,175
Disposals ( 468) ( 468)
At 30 April 2024 44,983 44,983
Net book value
At 30 April 2024 64,419 64,419
At 30 April 2023 84,659 84,659

4. Investment property

Investment property
£
Valuation
As at 01 May 2023 1,006,250
Fair value movement 743,750
As at 30 April 2024 1,750,000

Valuation

Based on a third party market valuation obtained in December 2024, the directors have revalued the company’s investment property to £1,750,000 to represent the fair value of land and properties as at 30 April 2024.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 464,500 464,500

5. Debtors

2024 2023
£ £
Trade debtors 45,865 84,681
Other debtors 661 659
46,526 85,340

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 179,558 28,218
Short-term deposits 245,769 239,808
425,327 268,026

7. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 45,143 18,543
Other creditors 107,290 69,340
152,433 87,883

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 4,892) ( 4,244)
Charged to the Statement of Income and Retained Earnings ( 169,674) ( 648)
At the end of financial year ( 174,566) ( 4,892)

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
6,000 Ordinary shares of £ 1.00 each 6,000 6,000

10. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Directors Transactions 660 660

The loan is unsecured and has no fixed terms of repayment.