Registered number
SC452716
Highland Off Road (3) Ltd
Report and Accounts
31 March 2025
Highland Off Road (3) Ltd
Registered number: SC452716
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 224,146 159,043
Current assets
Stocks 12,001 9,916
Debtors 4 137,161 181,161
Cash at bank and in hand 335,098 435,245
484,260 626,322
Creditors: amounts falling due within one year 5 (244,864) (391,296)
Net current assets 239,396 235,026
Total assets less current liabilities 463,542 394,069
Creditors: amounts falling due after more than one year 6 (23,624) (14,000)
Provisions for liabilities (55,888) (39,586)
Net assets 384,030 340,483
Capital and reserves
Called up share capital 100 100
Profit and loss account 383,930 340,383
Shareholders' funds 384,030 340,483
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mrs B Large W Cox
Director Director
Approved by the board on 12 August 2025
Highland Off Road (3) 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Leasehold land and buildings over the lease term
Plant, machinery, fixtures and fittings 15% reducing balance and 33% straight line
Motor vehicles 25% reducing balance
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.
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 30 28
3 Tangible fixed assets
Short Leasehold Plant, machinery, fittings & fixtures Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 4,011 220,167 135,713 359,891
Additions - 44,295 101,397 145,692
Disposals - (10,002) (71,599) (81,601)
At 31 March 2025 4,011 254,460 165,511 423,982
Depreciation
At 1 April 2024 3,310 124,620 72,918 200,848
Charge for the year 105 20,807 22,440 43,352
On disposals - (8,033) (36,331) (44,364)
At 31 March 2025 3,415 137,394 59,027 199,836
Net book value
At 31 March 2025 596 117,066 106,484 224,146
At 31 March 2024 701 95,547 62,795 159,043
4 Debtors 2025 2024
£ £
Trade debtors 48,780 101,652
Other debtors 88,381 79,509
137,161 181,161
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 12,000 12,000
Obligations under finance lease and hire purchase contracts 2,645 15,280
Trade creditors 46,499 60,740
Accruals and income billed in advance 81,043 147,962
Taxes and social security costs 85,677 146,314
Other creditors 17,000 9,000
244,864 391,296
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 2,000 14,000
Obligations under finance lease and hire purchase contracts 21,624 -
23,624 14,000
7 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 88,424 201,452
8 Contingent liabilities: Employee Ownership Trust
On 30 April 2023, 83% of the issued share capital of Highland Offroad (3) Ltd was acquired by the Trustees of the Highland Offroad (3) Ltd Employee Ownership Trust, established for the benefit of current and future employees of Highland Offroad (3) Ltd.
The shares were acquired for a total consideration of £647,334, of which £129,466 was paid on completion and funded by a gift from Highland Offroad (3) Ltd. A further £129,466 was paid during the year ended 31 March 2025, and was funded by a gift from the company. The balance of £388,402(deferred consideration) will be paid in future periods and is expected to be financed by further gifts from the company.
The total gift to the Trust in the year, to fund completion payments, amounted to £129,466.
9 Related party transactions
On 28 April 2023, a floating charge over all the property or undertakings of the company was registered with Companies House, in favour of Graham Clark, Beverley Large and Louise Nowell.
10 Controlling party
The majority of the shares are now held by the Highland Offroad (3) Ltd Employee Ownership Trust.
11 Other information
Highland Off Road (3) Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
Butterstone Loch
Butterstone
Dunkeld
Perthshire
PH8 0HH
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