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REGISTERED NUMBER: SC416522 (Scotland)















Abridged Unaudited Financial Statements for the Year Ended 28 February 2025

for

Highland Potatoes Limited

Highland Potatoes Limited (Registered number: SC416522)






Contents of the Financial Statements
for the Year Ended 28 February 2025




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Highland Potatoes Limited

Company Information
for the Year Ended 28 February 2025







DIRECTORS: J M Cameron
C E McIver
Mrs K J Cameron
Mrs S M McIver





REGISTERED OFFICE: Farmhouse
Balnakyle Farm
Munlochy
Ross-Shire
IV8 8PF





REGISTERED NUMBER: SC416522 (Scotland)





ACCOUNTANTS: Stewart & Stewart Ltd
Chartered Accountants
Achorn House
34 Millbank Road
Munlochy
Ross-Shire
IV8 8ND

Highland Potatoes Limited (Registered number: SC416522)

Abridged Balance Sheet
28 February 2025

28.2.25 29.2.24
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 39,471 59,204
Tangible assets 5 231,218 86,871
Investments 6 1,000 1,000
271,689 147,075

CURRENT ASSETS
Stocks 137,363 88,039
Debtors 1,154,093 1,000,812
Cash at bank 601,134 644,979
1,892,590 1,733,830
CREDITORS
Amounts falling due within one year 494,572 598,627
NET CURRENT ASSETS 1,398,018 1,135,203
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,669,707

1,282,278

CREDITORS
Amounts falling due after more than one
year

(6,667

)

(16,667

)

PROVISIONS FOR LIABILITIES (57,805 ) (21,718 )
NET ASSETS 1,605,235 1,243,893

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,605,135 1,243,793
SHAREHOLDERS' FUNDS 1,605,235 1,243,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 Potatoes Limited (Registered number: SC416522)

Abridged Balance Sheet - continued
28 February 2025


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 Income Statement and an abridged Balance Sheet for the year ended 28 February 2025 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 8 August 2025 and were signed on its behalf by:




J M Cameron - Director



C E McIver - Director


Highland Potatoes Limited (Registered number: SC416522)

Notes to the Financial Statements
for the Year Ended 28 February 2025

1. STATUTORY INFORMATION

Highland Potatoes 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract. Turnover is recognised when the amount of turnover can be measured reliably, it is probable that the Company will receive the consideration due under the contract, the stage of completion of the contract at the end of the reporting period can be measured reliably and when the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of fifteen years.

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 each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Highland Potatoes Limited (Registered number: SC416522)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non convertible preference shares and no puttable ordinary or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit and loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss immediately.

All equity investments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit and loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

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 held as fixed assets are stated at cost less any provision for impairment. Where the recoverable amount of the investment is less than the carrying amount, an impairment is recognised.

Highland Potatoes Limited (Registered number: SC416522)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2024
and 28 February 2025 296,000
AMORTISATION
At 1 March 2024 236,796
Amortisation for year 19,733
At 28 February 2025 256,529
NET BOOK VALUE

At 28 February 2025 39,471
At 29 February 2024 59,204

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2024 152,688
Additions 174,160
At 28 February 2025 326,848
DEPRECIATION
At 1 March 2024 65,817
Charge for year 29,813
At 28 February 2025 95,630
NET BOOK VALUE
At 28 February 2025 231,218
At 29 February 2024 86,871

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 March 2024
and 28 February 2025 1,000
NET BOOK VALUE
At 28 February 2025 1,000
At 29 February 2024 1,000

Highland Potatoes Limited (Registered number: SC416522)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025

7. SECURED DEBTS

The company has granted a floating charge over all its assets to The Royal Bank of Scotland. This charge relates to advances made to James Cameron and Sons, a partnership in which the Directors' are members.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Highland Potatoes Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Highland Potatoes Limited for the year ended 28 February 2025 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Highland Potatoes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Highland Potatoes Limited and state those matters that we have agreed to state to the Board of Directors of Highland Potatoes Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Highland Potatoes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Highland Potatoes Limited. You consider that Highland Potatoes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Highland Potatoes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stewart & Stewart Ltd
Chartered Accountants
Achorn House
34 Millbank Road
Munlochy
Ross-Shire
IV8 8ND


8 August 2025