REGISTERED NUMBER: SC162378 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

HIGHLANDER (SCOTLAND) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Golzari

B Golzari

REGISTERED OFFICE:

1 Todd Square

Houston Industrial Estate

Livingston

West Lothian

EH54 5EF

REGISTERED NUMBER:

SC162378 (Scotland)

ACCOUNTANTS:

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

FIXED ASSETS

Intangible assets

4

5,000

10,000

Tangible assets

5

1,500,035

1,546,973

Investments

6

401,579

1,190,994

1,906,614

2,747,967

CURRENT ASSETS

Stocks

4,594,786

2,963,758

Debtors

7

4,836,631

5,254,960

Cash at bank

481,592

326,858

9,913,009

8,545,576

CREDITORS

Amounts falling due within one year

8

2,850,507

2,294,505

NET CURRENT ASSETS

7,062,502

6,251,071

TOTAL ASSETS LESS CURRENT LIABILITIES

8,969,116

8,999,038

PROVISIONS FOR LIABILITIES

65,422

67,281

NET ASSETS

8,903,694

8,931,757

CAPITAL AND RESERVES

Called up share capital

1,225,070

1,225,070

Capital redemption reserve

520,030

520,030

Retained earnings

7,158,594

7,186,657

8,903,694

8,931,757

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 28 August 2026 and were signed on its behalf by:

R Golzari - Director

1.	STATUTORY INFORMATION

Highlander (Scotland) 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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of three 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.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes importation costs relating to goods held.

Basic financial instruments

Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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.

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 44 (2024 - 51 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

153,000

AMORTISATION

At 1 January 2025

143,000

Amortisation for year

5,000

At 31 December 2025

148,000

NET BOOK VALUE

At 31 December 2025

5,000

At 31 December 2024

10,000

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2025

2,079,601

443,035

290,321

2,812,957

Additions

-

30,734

55,400

86,134

Disposals

-

-

(26,680

)

(26,680

)

At 31 December 2025

2,079,601

473,769

319,041

2,872,411

DEPRECIATION

At 1 January 2025

834,051

239,656

192,277

1,265,984

Charge for year

39,501

51,453

32,185

123,139

Eliminated on disposal

-

-

(16,747

)

(16,747

)

At 31 December 2025

873,552

291,109

207,715

1,372,376

NET BOOK VALUE

At 31 December 2025

1,206,049

182,660

111,326

1,500,035

At 31 December 2024

1,245,550

203,379

98,044

1,546,973

6.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1 January 2025

86

1,190,908

1,190,994

Disposals

-

(830,000

)

(830,000

)

Share of profit/(loss)

-

44,714

44,714

Revaluations

-

(14,189

)

(14,189

)

Dividends received

-

10,060

10,060

At 31 December 2025

86

401,493

401,579

NET BOOK VALUE

At 31 December 2025

86

401,493

401,579

At 31 December 2024

86

1,190,908

1,190,994

Cost or valuation at 31 December 2025 is represented by:

Shares in

group

Other

undertakings

investments

Totals

£

£

£

Valuation in 2024

-

125,348

125,348

Valuation in 2025

-

276,145

276,145

Cost

86

-

86

86

401,493

401,579

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

299,687

448,902

Amounts owed by group undertakings

4,096,245

3,843,184

Other debtors

358,786

914,819

Tax

15,707

15,707

Prepayments

66,206

32,348

4,836,631

5,254,960

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

353,172

403,120

Amounts owed to group undertakings

2,153,942

1,230,836

Social security and other taxes

38,613

29,631

VAT

15,526

102,365

Other creditors

113,625

76,698

Accruals and deferred income

175,629

451,855

2,850,507

2,294,505

9.	RELATED PARTY DISCLOSURES

HSL Falkirk Ltd

The directors are also directors of HSL Falkirk.

The company was due £43,927 (2024 - £79,984 ) from HSL Falkirk at the year end.

The loan is interest free and repayable on demand.

HSL Perth Ltd

The directors are also directors of HSL Perth.

The company was due £274,847 (2024 - £303,908) from HSL Perth at the year end.

The loan is interest free and repayable on demand.

HSL Kirkintilloch Ltd

The directors are also directors of HSL Kirkintilloch.

The company was due £213,966 (2024 - £225,188) from HSL Kirkintilloch at the year end.

The loan is interest free and repayable on demand.

Highlander Scotland Properties Limited

The directors are also directors of Highlander Scotland Properties Limited.

The company was due £3,400,507 (2024 - £3,071573) from Highlander Scotland Properties at the year end.