Company registration number SC236007 (Scotland)
HIGHLAND OS GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
HIGHLAND OS GROUP LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HIGHLAND OS GROUP LTD
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
17,000
18,000
Investments
4
99
99
17,099
18,099
Current assets
Debtors
6
176,527
80,209
Creditors: amounts falling due within one year
7
(194,542)
(98,735)
Net current liabilities
(18,015)
(18,526)
Net liabilities
(916)
(427)
Capital and reserves
Called up share capital
1,100
1,100
Profit and loss reserves
(2,016)
(1,527)
Total equity
(916)
(427)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 April 2025 and are signed on its behalf by:
A L MORRISON
Mr A L Morrison
Director
Company Registration No. SC236007
HIGHLAND OS GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
Highland OS Group Ltd is a private company limited by shares incorporated in Scotland. The registered office is Highland House, Howe Moss Drive, Kirkhill Industrial Estate, Dyce, Aberdeen, Scotland, AB21 0GL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company is a parent company and therefore shares its banking arrangements with its subsidiary, Highland Ropetrue Access-Inspection Limited.
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable.
Turnover is recognised when the service has been provided.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
4% on cost
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.
1.5
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
HIGHLAND OS GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2023 and 31 July 2024
25,000
Depreciation and impairment
At 1 August 2023
7,000
Depreciation charged in the year
1,000
At 31 July 2024
8,000
Carrying amount
At 31 July 2024
17,000
At 31 July 2023
18,000
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
99
99
5
Subsidiaries
Details of the company's subsidiaries at 31 July 2024 are as follows:
HIGHLAND OS GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
5
Subsidiaries
(Continued)
- 4 -
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Highland Rope Access-Inspection Limited
Highland House, Howe Moss Drive, Kirkhill Industrial Estate, Dyce, Aberdeen, AB21 0GL
Provision of inspection, repair and maintenance services
Ordinary
99.00
Driftwood Ventures Ltd
C/O Anderson Anderson & Brown Llp, 133 Finnieston Street, Glasgow, G3 8HB
Investment arm for IT company
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
£
Highland Rope Access-Inspection Limited
2,592,026
Driftwood Ventures Ltd
(3,117)
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
175,427
78,727
Other debtors
1,100
1,482
176,527
80,209
7
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
192,550
96,835
Other creditors
1,992
1,900
194,542
98,735