REGISTERED NUMBER: SC262925 (Scotland)

Highland Spirit Limited

Financial Statements For The Year Ended 30 April 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Scott

Mrs D A Scott

SECRETARY:

Mr A Scott

REGISTERED OFFICE:

41 Wards Road

Elgin

Moray

IV30 1NL

REGISTERED NUMBER:

SC262925 (Scotland)

ACCOUNTANTS:

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

BANKERS:

The Royal Bank of Scotland

209 High Street

Elgin

Moray

IV30 1DL

FIXED ASSETS

Intangible assets

4

233

-

Tangible assets

5

1,106

329

1,339

329

CURRENT ASSETS

Stocks

960

2,400

Debtors

6

8,251

150

Cash at bank

7,809

14,095

17,020

16,645

CREDITORS

Amounts falling due within one year

7

17,188

12,332

NET CURRENT (LIABILITIES)/ASSETS

(168

)

4,313

TOTAL ASSETS LESS CURRENT LIABILITIES

1,171

4,642

CREDITORS

Amounts falling due after more than one year

8

955

3,751

NET ASSETS

216

891

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

214

889

SHAREHOLDERS' FUNDS

216

891

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2025 and were signed on its behalf by:

Mr A J Scott - Director

1.	STATUTORY INFORMATION

Highland Spirit 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, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

33% on cost, 25% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2024

870

Additions

350

At 30 April 2025

1,220

AMORTISATION

At 1 May 2024

870

Charge for year

117

At 30 April 2025

987

NET BOOK VALUE

At 30 April 2025

233

At 30 April 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

Equipment

fittings

equipment

Totals

£

£

£

£

COST

At 1 May 2024

24,701

1,215

3,358

29,274

Additions

266

-

836

1,102

Disposals

-

-

(341

)

(341

)

At 30 April 2025

24,967

1,215

3,853

30,035

DEPRECIATION

At 1 May 2024

24,372

1,215

3,358

28,945

Charge for year

179

-

146

325

Eliminated on disposal

-

-

(341

)

(341

)

At 30 April 2025

24,551

1,215

3,163

28,929

NET BOOK VALUE

At 30 April 2025

416

-

690

1,106

At 30 April 2024

329

-

-

329

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Other debtors

8,251

150

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Bank loans and overdrafts

3,408

3,408

Hire purchase contracts

349

-

Taxation and social security

10,916

3,210

Other creditors

2,515

5,714

17,188

12,332

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.25

30.4.24

£

£

Bank loans

775

3,751

Hire purchase contracts

180

-

955

3,751

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.25

30.4.24

value:

£

£

2

Ordinary

1

2

2

10.

RESERVES

Retained

earnings

£

At 1 May 2024

889

Profit for the year

33,325

Dividends

(34,000

)

At 30 April 2025

214

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £33,500 were paid to the directors .

At 1 May 2024 the company owed one of the directors £1,770. During the year the company met expenses on behalf of this director totalling £61,676 and the director met expenditure on behalf of the company totalling £51,654. At 30 April 2024 this director owed the company £8,252. This loan is interest free and has no fixed terms of repayment.