Registered number
SC393362
Highland Fling Bungee Ltd
Filleted Accounts
31 March 2025
Highland Fling Bungee Ltd
Registered number: SC393362
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 297,944 100,232
Current assets
Stocks 1,425 1,425
Debtors 4 50,200 34,894
Cash at bank and in hand 321,115 153,212
372,740 189,531
Creditors: amounts falling due within one year 5 (131,014) (52,736)
Net current assets 241,726 136,795
Total assets less current liabilities 539,670 237,027
Creditors: amounts falling due after more than one year 6 (23,267) (540)
Net assets 516,403 236,487
Capital and reserves
Called up share capital 100 100
Profit and loss account 516,303 236,387
Shareholder's funds 516,403 236,487
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Murray Trail
Director
Approved by the board on 18 June 2025
Highland Fling Bungee Ltd
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents amounts receivable for the operation of rope and bungee experiences and tuition net of VAT and trade discounts. The company recognises income when experiences are invoiced and cash is collected.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% per annum straight line
Plant and machinery 20% per annum reducing balance
Fixtures, fittings, tools and equipment 25% per annum straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Fixtures, fittings & equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 31,284 269,183 86,180 386,647
Additions 6,976 133,320 167,528 307,824
Disposals - (4,000) - (4,000)
At 31 March 2025 38,260 398,503 253,708 690,471
Depreciation
At 1 April 2024 24,178 209,809 52,428 286,415
Charge for the year 4,946 37,739 63,427 106,112
At 31 March 2025 29,124 247,548 115,855 392,527
Net book value
At 31 March 2025 9,136 150,955 137,853 297,944
At 31 March 2024 7,106 59,374 33,752 100,232
4 Debtors 2025 2024
£ £
Trade debtors - 4,894
Other debtors 50,200 30,000
50,200 34,894
5 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 8,752 2,160
Trade creditors 53,654 20,122
Taxation and social security costs 56,269 27,495
Other creditors 12,339 2,959
131,014 52,736
Bank loans and overdrafts are secured by a floating charge over all assets.
6 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 23,267 540
Bank loans and overdrafts are secured by a floating charge over all assets.
7 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 106,500 106,500
8 Loans by directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Murray Trail
Loan to company 28 (23,791) 24,000 237
28 (23,791) 24,000 237
The above loan due to Murray Trail is included in other creditors. The loan is unsecured, interest free and there are no set dates for repayment.
9 Related party transactions
During the year, the company sold services totalling £44,251 (2024 - £9,971) to Killiecrankie Zip Park Ltd, a company in which Murray Trail is a director.
During the year, the company purchased services totalling £ nil (2024 - £1,364) from Killiecrankie Zip Park Ltd.
10 Controlling party
The company is controlled by Murray Trail, director, who holds the issued share capital.
11 Other information
Highland Fling Bungee Ltd is a private company limited by shares and incorporated in Scotland. The registered office is:
The Visitor's Centre
Soldier's Leap
Pitlochry
PH16 5LG
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