Company No: SC243453 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Current assets
Stocks	3	0		436,937
Debtors	4	0		400
Cash at bank and in hand	5	1,942		1,463
		1,942		438,800
Creditors: amounts falling due within one year	6	( 265,402)		( 613,529)
Net current liabilities		(263,460)		(174,729)
Total assets less current liabilities		(263,460)		(174,729)
Creditors: amounts falling due after more than one year	7	( 3,785)		( 14,043)
Net liabilities		( 267,245)		( 188,772)
Capital and reserves
Called-up share capital	8	400		400
Capital redemption reserve		20		20
Profit and loss account		( 267,665 )		( 189,192 )
Total shareholders' deficit		( 267,245)		( 188,772)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Highland Capital Ltd (registered number: SC243453) were approved and authorised for issue by the Director on 25 September 2025. They were signed on its behalf by:

Mr D M Horne Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Highland Capital Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 6 Kinneddar Mains Steading, Saline, Dunfermline, KY12 9LJ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. The Director has also confirmed that they will not seek repayment of their Directors Loan account until all other creditors have been settled. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for the sale of real estate.

Revenue is recognised when the company has entitlement to the income in exchange for the sale of real estate.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Stocks

	2024		2023
	£		£
Work in progress	0		436,937

4. Debtors

	2024		2023
	£		£
Other debtors	0		400

5. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	1,942		1,463

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	10,412		10,124
Other creditors	254,990		603,405
	265,402		613,529

Bank borrowings relate to the bounce back loan scheme and are fully covered by a government backed guarantee.

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	3,785		14,043

Bank borrowings relate to the bounce back loan scheme and are fully covered by a government backed guarantee.

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary "A" shares of £ 1.00 each	100		100
100 Ordinary "B" shares of £ 1.00 each	100		100
100 Ordinary "C" shares of £ 1.00 each	100		100
100 Ordinary "D" shares of £ 1.00 each	100		100
	400		400

9. Related party transactions

Transactions with the entity's director

	2024		2023
	£		£
Amounts owed to director	241,709		600,223

The above loan is unsecured, interest free and has no fixed terms of repayment.