Company Registration No. SC699240 (Scotland)
Highland Woodcraft Ltd
Filleted Accounts
for the year ended 31 May 2024
Highland Woodcraft Ltd
Filleted Accounts
Contents
Highland Woodcraft Ltd
Company Information
for the year ended 31 May 2024
Directors
Lesley Durdle
Mikey Durdle
Company Number
SC699240 (Scotland)
Registered Office
Alclutha
Broallan
Beauly
IV4 7AH
Accountants
Cameron Consulting (Scotland) Ltd
7 Poles Road
Dornoch
IV25 3HP
Highland Woodcraft Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
28,224
9,896
Cash at bank and in hand
11,223
31,008
Creditors: amounts falling due within one year
(27,305)
(37,721)
Net current liabilities
(13,232)
(4,863)
Total assets less current liabilities
14,992
5,033
Creditors: amounts falling due after more than one year
(14,310)
(4,027)
Called up share capital
200
200
Profit and loss account
482
806
Shareholders' funds
682
1,006
For the year ending 31 May 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 13 February 2025 and were signed on its behalf by
Mikey Durdle
Director
Company Registration No. SC699240
Highland Woodcraft Ltd
Notes to the Accounts
for the year ended 31 May 2024
Highland Woodcraft Ltd is a private company, limited by shares, registered in Scotland, registration number SC699240. The registered office is Alclutha, Broallan, Beauly, IV4 7AH.
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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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
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:
Plant & machinery
3-5 years
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Highland Woodcraft Ltd
Notes to the Accounts
for the year ended 31 May 2024
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2023
4,499
11,495
15,994
At 31 May 2024
4,499
35,634
40,133
At 1 June 2023
1,500
4,598
6,098
Charge for the year
1,500
4,311
5,811
At 31 May 2024
3,000
8,909
11,909
At 31 May 2024
1,499
26,725
28,224
At 31 May 2023
2,999
6,897
9,896
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Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
5,366
1,859
Trade creditors
15,206
3,747
Taxes and social security
829
8,398
Loans from directors
307
12,596
6
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
14,310
4,027
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Average number of employees
During the year the average number of employees was 1 (2023: 1).