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REGISTERED NUMBER: SC509033 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

HIGHLAND APARTMENTS (OBAN) LIMITED

HIGHLAND APARTMENTS (OBAN) LIMITED (REGISTERED NUMBER: SC509033)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGHLAND APARTMENTS (OBAN) LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2024







DIRECTORS: Margaret MacDonald
Malcolm MacDonald
Jacqueline MacDonald





REGISTERED OFFICE: Broombank
North Connel
Oban
Argyll
PA37 1RD





REGISTERED NUMBER: SC509033 (Scotland)





ACCOUNTANTS: Andy Newiss & Co Ltd
Broombank
North Connel
Oban
Argyll
PA37 1RD

HIGHLAND APARTMENTS (OBAN) LIMITED (REGISTERED NUMBER: SC509033)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,391 28,083
Investment property 5 1,071,917 1,071,917
1,098,308 1,100,000

CURRENT ASSETS
Debtors 6 6,357 5,465
Cash at bank 80,106 71,812
86,463 77,277
CREDITORS
Amounts falling due within one year 7 454,174 454,481
NET CURRENT LIABILITIES (367,711 ) (377,204 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

730,597

722,796

PROVISIONS FOR LIABILITIES 177,406 175,502
NET ASSETS 553,191 547,294

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Long term Directors' loan 53,000 53,000
Fair value reserve 8 525,140 525,140
Retained earnings (26,949 ) (32,846 )
SHAREHOLDERS' FUNDS 553,191 547,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

HIGHLAND APARTMENTS (OBAN) LIMITED (REGISTERED NUMBER: SC509033)

BALANCE SHEET - continued
30 June 2024


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 27 March 2025 and were signed on its behalf by:





Margaret MacDonald - Director


HIGHLAND APARTMENTS (OBAN) LIMITED (REGISTERED NUMBER: SC509033)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

Highland Apartments (Oban) 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

HIGHLAND APARTMENTS (OBAN) LIMITED (REGISTERED NUMBER: SC509033)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 July 2023
and 30 June 2024 16,954 1,003 40,000 57,957
DEPRECIATION
At 1 July 2023 - 774 29,100 29,874
Charge for year - 57 1,635 1,692
At 30 June 2024 - 831 30,735 31,566
NET BOOK VALUE
At 30 June 2024 16,954 172 9,265 26,391
At 30 June 2023 16,954 229 10,900 28,083

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,071,917
NET BOOK VALUE
At 30 June 2024 1,071,917
At 30 June 2023 1,071,917

The most recent valuation of the investment property from a professional valuer was received by the Directors on 3 November 2023.The Directors are satisfied that the stated Fair Value remains appropriate.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,010 5,210
Other debtors 347 255
6,357 5,465

HIGHLAND APARTMENTS (OBAN) LIMITED (REGISTERED NUMBER: SC509033)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,135 5,210
Taxation and social security 2,005 1,100
Other creditors 448,034 448,171
454,174 454,481

8. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 525,140