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REGISTERED NUMBER: SC410383 (Scotland)















Abridged Unaudited Financial Statements for the Year Ended 30 November 2024

for

On Track Training (Highland) Limited

On Track Training (Highland) Limited (Registered number: SC410383)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


On Track Training (Highland) Limited

Company Information
for the Year Ended 30 November 2024







DIRECTOR: Ms H C Martin





REGISTERED OFFICE: 3 Borlum Cottages
Borlum Farm
Drumnadrochit
Inverness-shire
IV63 6XN





REGISTERED NUMBER: SC410383 (Scotland)





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

On Track Training (Highland) Limited (Registered number: SC410383)

Abridged Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 13,078 15,389
Investment property 6 636,752 636,752
649,830 652,141

CURRENT ASSETS
Stocks 500 500
Debtors 360,668 373,904
Cash at bank 143,621 177,488
504,789 551,892
CREDITORS
Amounts falling due within one year 94,870 83,576
NET CURRENT ASSETS 409,919 468,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,059,749

1,120,457

CREDITORS
Amounts falling due after more than one
year

(11,667

)

(21,667

)

PROVISIONS FOR LIABILITIES (13,560 ) (14,137 )
NET ASSETS 1,034,522 1,084,653

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable fair value reserve 7 32,806 32,806
Retained earnings 1,001,616 1,051,747
SHAREHOLDERS' FUNDS 1,034,522 1,084,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

On Track Training (Highland) Limited (Registered number: SC410383)

Abridged Balance Sheet - continued
30 November 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 Income Statement and an abridged Balance Sheet for the year ended 30 November 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 director and authorised for issue on 26 August 2025 and were signed by:





Ms H C Martin - Director


On Track Training (Highland) Limited (Registered number: SC410383)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

On Track Training (Highland) 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 as modified by the revaluation of certain assets.

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 2012, is being amortised evenly over its estimated useful life of ten 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 - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are those properties that are held either to earn rental income or for capital appreciation or both. Investment properties are measured initially at cost including transaction costs and thereafter are stated at fair value, which reflects market conditions at the balance sheet date. Gains and losses arising from changes in the fair value of investment properties are recognised in the income statement in the year in which they arise.

Investment properties are stated at fair value as determined by the Director. In determining the fair value of each investment property, the Director makes use of historical and current market data as well as existing lease agreements.

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.

On Track Training (Highland) Limited (Registered number: SC410383)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

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 non 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 or 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

On Track Training (Highland) Limited (Registered number: SC410383)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2023
and 30 November 2024 100,000
AMORTISATION
At 1 December 2023
and 30 November 2024 100,000
NET BOOK VALUE

At 30 November 2024 -
At 30 November 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2023
and 30 November 2024 32,748
DEPRECIATION
At 1 December 2023 17,359
Charge for year 2,311
At 30 November 2024 19,670
NET BOOK VALUE
At 30 November 2024 13,078
At 30 November 2023 15,389

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023
and 30 November 2024 636,752
NET BOOK VALUE
At 30 November 2024 636,752
At 30 November 2023 636,752

On Track Training (Highland) Limited (Registered number: SC410383)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

6. INVESTMENT PROPERTY - continued

The investment property was valued on a fair value basis on 30 November 2024 by the director.

7. RESERVES
Non
distributable
fair
value
reserve
£   
At 1 December 2023
and 30 November 2024 32,806

8. FINANCIAL COMMITMENTS

As at 30 November 2024, the company had total commitments under non cancellable operating leases over the remaining life of those leases of £2,788 (2023 - £3,685).

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24 30.11.23
£    £   
Ms H C Martin
Balance outstanding at start of year (20,680 ) 68,350
Amounts advanced 119,042 122,368
Amounts repaid (141,566 ) (211,398 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (43,204 ) (20,680 )

This loan is unsecured and has no fixed terms for repayment. Interest has been charged on this loan.

10. RELATED PARTY TRANSACTION

The following amounts were outstanding at the year end date:

Amounts due from related party 30.11.24 30.11.23

Other related party 322,666 320,156
This is a loan to a company which is under the control of the director. The loan is unsecured, interest free and has no fixed terms of repayment.