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REGISTERED NUMBER: SC242191 (Scotland)















Financial Statements for the Year Ended 31 December 2024

for

High Water (Scotland) Ltd.

High Water (Scotland) Ltd. (Registered number: SC242191)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


High Water (Scotland) Ltd.

Company Information
for the Year Ended 31 December 2024







DIRECTORS: W Samuel
M Ayres
J Gray
C Forster
R Innes
I A Mackellar





SECRETARY: M Ayres





REGISTERED OFFICE: Unit 10
Grigorhill Industrial Estate
Nairn
Nairn-Shire
IV12 5HX





REGISTERED NUMBER: SC242191 (Scotland)





ACCOUNTANTS: Highland Accountancy Practice
Chartered Accountants
Suite 1A, Willow House
Stoneyfield Business Park
Inverness
Highland
IV2 7PA

High Water (Scotland) Ltd. (Registered number: SC242191)

Abridged Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,039,212 803,021
1,039,212 803,021

CURRENT ASSETS
Stocks 870,182 788,368
Debtors 872,260 1,156,726
Cash at bank and in hand 621,422 305,822
2,363,864 2,250,916
CREDITORS
Amounts falling due within one year 736,069 637,968
NET CURRENT ASSETS 1,627,795 1,612,948
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,667,007

2,415,969

CREDITORS
Amounts falling due after more than one
year

(329,842

)

(253,065

)

PROVISIONS FOR LIABILITIES (255,679 ) (196,833 )
NET ASSETS 2,081,486 1,966,071

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,081,484 1,966,069
SHAREHOLDERS' FUNDS 2,081,486 1,966,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

High Water (Scotland) Ltd. (Registered number: SC242191)

Abridged Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 9 June 2025 and were signed on its behalf by:




W Samuel - Director



R Innes - Director


High Water (Scotland) Ltd. (Registered number: SC242191)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

High Water (Scotland) Ltd. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was amortised over its estimated useful life. The final balance was fully written off on 31 December 2018.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Tenants Improvements - 10% on cost
Plant and Machinery - 25% on reducing balance and 15% on reducing balance
Computer Equipment - 33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation, impairment losses, and reversals of impairment losses (where applicable).

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


High Water (Scotland) Ltd. (Registered number: SC242191)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments in shares are included at fair market value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2023 - 49 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024
and 31 December 2024 7,500
AMORTISATION
At 1 January 2024
and 31 December 2024 7,500
NET BOOK VALUE

At 31 December 2024 -
At 31 December 2023 -

High Water (Scotland) Ltd. (Registered number: SC242191)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024 1,889,645
Additions 540,236
Disposals (178,125 )
At 31 December 2024 2,251,756
DEPRECIATION
At 1 January 2024 1,086,624
Charge for year 271,224
Eliminated on disposal (145,304 )
At 31 December 2024 1,212,544
NET BOOK VALUE
At 31 December 2024 1,039,212
At 31 December 2023 803,021

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2024 585,189
Additions 464,717
Transfer to ownership (17,300 )
At 31 December 2024 1,032,606
DEPRECIATION
At 1 January 2024 146,297
Charge for year 164,617
Transfer to ownership (9,203 )
At 31 December 2024 301,711
NET BOOK VALUE
At 31 December 2024 730,895
At 31 December 2023 438,892

6. ULTIMATE CONTROLLING PARTY

No one party controls the company.