REGISTERED NUMBER: SC524161 (Scotland)

Unaudited Financial Statements for the Year Ended 31st January 2025

for

Exclusively Highlands Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

Directors:

M I Stewart

C M M Stewart

Registered office:

Viewmount Cottage

Precincts Road

Fortrose

IV10 8TS

Registered number:

SC524161 (Scotland)

Accountants:

Frame Kennedy

4th Floor Metropolitan House

31-33 High Street

Inverness

IV1 1HT

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 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 Exclusively Highlands Ltd for the year ended 31st January 2025 which comprise the Statement of Income and Retained Earnings, 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 Exclusively Highlands Ltd, 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 Exclusively Highlands Ltd and state those matters that we have agreed to state to the Board of Directors of Exclusively Highlands Ltd, 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 Exclusively Highlands Ltd 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 Exclusively Highlands Ltd. You consider that Exclusively Highlands Ltd 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 Exclusively Highlands Ltd. 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.

Frame Kennedy

4th Floor Metropolitan House

31-33 High Street

Inverness

IV1 1HT

14th August 2025

Fixed assets

Tangible assets

4

46,987

62,650

Current assets

Debtors

5

24,728

45,702

Cash at bank and in hand

31,189

82,404

55,917

128,106

Creditors

Amounts falling due within one year

6

79,472

146,653

Net current liabilities

(23,555

)

(18,547

)

Total assets less current liabilities

23,432

44,103

Creditors

Amounts falling due after more than one year

7

(6,596

)

(11,252

)

Provisions for liabilities

(11,747

)

(15,662

)

Net assets

5,089

17,189

Capital and reserves

Called up share capital

213

210

Retained earnings

4,876

16,979

5,089

17,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

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

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14th August 2025 and were signed on its behalf by:

M I Stewart - Director

1.	Statutory information

Exclusively Highlands 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.

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Fair value

Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3.	Employees and directors

The average number of employees during the year was 6 (2024 - 6 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1st February 2024

and 31st January 2025

128,380

Depreciation

At 1st February 2024

65,730

Charge for year

15,663

At 31st January 2025

81,393

Net book value

At 31st January 2025

46,987

At 31st January 2024

62,650

5.

Debtors

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

15,799

34,682

Other debtors

3,544

2,790

19,343

37,472

Amounts falling due after more than one year:

Other debtors

5,385

8,230

Aggregate amounts

24,728

45,702

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

4,656

4,656

Taxation and social security

17,081

31,152

Other creditors

57,735

110,845

79,472

146,653

7.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans

6,596

11,252

8.	Related party disclosures

During the year to 31 January 2025, the director's received salaries of £24,000 (2024: £20,650) and dividends of £20,000 (2024: £73,600).