Company Registration No. SC293793 (Scotland)
Highland Conservation Limited
Unaudited financial statements
for the year ended 30 November 2024
Pages for filing with the registrar
Highland Conservation Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
Highland Conservation Limited
Statement of financial position
As at 30 November 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
548,175
562,244
Current assets
Stocks
104,206
131,228
Debtors
4
281,413
319,873
Cash at bank and in hand
32,007
31,521
417,626
482,622
Creditors: amounts falling due within one year
5
(171,925)
(193,933)
Net current assets
245,701
288,689
Total assets less current liabilities
793,876
850,933
Creditors: amounts falling due after more than one year
6
(4,380)
(30,200)
Provisions for liabilities
(133,512)
(136,035)
Net assets
655,984
684,698
Capital and reserves
Called up share capital
300
300
Profit and loss reserves
655,684
684,398
Total equity
655,984
684,698
Highland Conservation Limited
Statement of financial position (continued)
As at 30 November 2024
2
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 and signed by the director and authorised for issue on 26 May 2025.
Andrew Coleman
Director
Company Registration No. SC293793
Highland Conservation Limited
Notes to the financial statements
For the year ended 30 November 2024
3
1
Accounting policies
Company information
Highland Conservation Limited is a private company limited by shares incorporated in Scotland. The registered office is Beallach Farm, Jamestown, Strathpeffer, Ross-shire, IV14 9ER.
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 except where FRS 102 requires fair value to be applied, as detailed in the accounting policies below. The principal accounting policies adopted are set out below.
1.2
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.
Revenue is recognised when the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, 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:
Land and buildings freehold
2% per annum straight line basis
Plant and machinery
25% per annum reducing balance basis
Motor vehicles
20% per annum reducing balance basis
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.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Highland Conservation Limited
Notes to the financial statements (continued)
For the year ended 30 November 2024
1
Accounting policies (continued)
4
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities receivable or payable within one year are not amortised.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Highland Conservation Limited
Notes to the financial statements (continued)
For the year ended 30 November 2024
1
Accounting policies (continued)
5
1.12
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
10
12
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2023
21,145
1,240,324
1,261,469
Additions
164,913
164,913
Disposals
(31,909)
(31,909)
At 30 November 2024
21,145
1,373,328
1,394,473
Depreciation and impairment
At 1 December 2023
1,105
698,120
699,225
Depreciation charged in the year
423
164,925
165,348
Eliminated in respect of disposals
(18,275)
(18,275)
At 30 November 2024
1,528
844,770
846,298
Carrying amount
At 30 November 2024
19,617
528,558
548,175
At 30 November 2023
20,040
542,204
562,244
Highland Conservation Limited
Notes to the financial statements (continued)
For the year ended 30 November 2024
6
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
97,684
154,410
Other debtors
183,729
165,463
281,413
319,873
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
20,863
30,094
Corporation tax
26,622
12,465
Other taxation and social security
55,704
79,655
Other creditors
68,736
71,719
171,925
193,933
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
4,380
30,200
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
27,082
6,031
Highland Conservation Limited
Notes to the financial statements (continued)
For the year ended 30 November 2024
7
8
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Advances to directors
-
123,739
108,096
(93,312)
138,523
123,739
108,096
(93,312)
138,523
The above loan is interest free and repayable on demand.