On Track Training (Highland) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC410383 (Scotland)

Abridged Unaudited Financial Statements for the Year Ended 30 November 2025

for

On Track Training (Highland) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

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

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

11,117

13,078

Investment property

6

653,512

636,752

664,629

649,830

CURRENT ASSETS

Stocks

500

Debtors

357,458

360,668

Cash at bank

165,520

143,621

523,478

504,789

CREDITORS

Amounts falling due within one year

103,039

94,870

NET CURRENT ASSETS

420,439

409,919

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,085,068

1,059,749

CREDITORS

Amounts falling due after more than one year

(1,668

)

(11,667

)

PROVISIONS FOR LIABILITIES

(20,150

)

(13,560

)

NET ASSETS

1,063,250

1,034,522

CAPITAL AND RESERVES

Called up share capital

100

Non distributable fair value reserve

7

52,114

32,806

Retained earnings

1,011,036

1,001,616

SHAREHOLDERS' FUNDS

1,063,250

1,034,522

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 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.

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 2025 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 24 August 2026 and were signed by:

Ms H C Martin - Director

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, was fully amortised evenly over it's estimated useful life of ten years and has a net book value of £nil.

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.

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.

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 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2024

and 30 November 2025

100,000

AMORTISATION

At 1 December 2024

and 30 November 2025

100,000

NET BOOK VALUE

At 30 November 2025

-

At 30 November 2024

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2024

and 30 November 2025

32,748

DEPRECIATION

At 1 December 2024

19,670

Charge for year

1,961

At 30 November 2025

21,631

NET BOOK VALUE

At 30 November 2025

11,117

At 30 November 2024

13,078

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2024

636,752

Additions

111,760

Disposals

(95,000

)

At 30 November 2025

653,512

NET BOOK VALUE

At 30 November 2025

653,512

At 30 November 2024

636,752

The investment properties are stated at fair value as determined by the Directors.

7.

RESERVES

Non

distributable

fair

value

reserve

£

At 1 December 2024

32,806

Fair value movement

26,389

Deferred tax on fair value

adjustment

(7,081

)

At 30 November 2025

52,114

8.	FINANCIAL COMMITMENTS

As at 30 November 2025, the company had total commitments under non cancellable operating leases over the remaining life of those leases of £2,250 (2024 - £2,788).

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2025 and 30 November 2024:

30.11.25

30.11.24

£

Ms H C Martin

Balance outstanding at start of year

-

(20,680

)

Amounts advanced

-

119,042

Amounts repaid

-

(98,362

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

10.	RELATED PARTY TRANSACTION

The following amounts were outstanding at the year end date:

Amounts due from related party

30.11.25

30.11.24

Other related party

324,945

322,666

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.

The following reproduces the text of the report prepared for the director 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 Abridged Income Statement and certain other primary statements and the Report of the Director 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 On Track Training (Highland) Limited for the year ended 30 November 2025 which comprise the Abridged Income Statement, Abridged 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 director of On Track Training (Highland) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of On Track Training (Highland) Limited and state those matters that we have agreed to state to the director of On Track Training (Highland) Limited 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 director for our work or for this report.

It is your duty to ensure that On Track Training (Highland) Limited 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 On Track Training (Highland) Limited. You consider that On Track Training (Highland) Limited 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 On Track Training (Highland) Limited. 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.

Stewart & Stewart Ltd

Chartered Accountants

Achorn House

34 Millbank Road

Munlochy

Ross-Shire

IV8 8ND

24 August 2026