Highfield Hounds & Horses Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC581613 (Scotland)

Unaudited Financial Statements for the Year Ended 30 November 2020

for

Highfield Hounds & Horses Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss D Sitek

REGISTERED OFFICE:

Kirkforthar Farm

Markinch

Glenrothes

KY7 6LS

REGISTERED NUMBER:

SC581613 (Scotland)

ACCOUNTANTS:

Andersons

53 Wellhall Road

Hamilton

Lanarkshire

ML3 9BY

FIXED ASSETS

Tangible assets

4

23,364

21,935

CURRENT ASSETS

Debtors

5

3,639

-

Cash at bank and in hand

16,946

15,239

20,585

15,239

CREDITORS

Amounts falling due within one year

6

12,717

19,183

NET CURRENT ASSETS/(LIABILITIES)

7,868

(3,944

)

TOTAL ASSETS LESS CURRENT LIABILITIES

31,232

17,991

CREDITORS

Amounts falling due after more than one year

7

27,859

12,914

NET ASSETS

3,373

5,077

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

3,372

5,076

SHAREHOLDERS' FUNDS

3,373

5,077

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2020 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.

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 20 May 2021 and were signed by:

Miss D Sitek - Director

1.	STATUTORY INFORMATION

Highfield Hounds & Horses 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.

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 etc

-

25% on cost and 20% on 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

The financial statements have been prepared as a going concern as the director has indicated her willingness to continue to support the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2019

31,150

Additions

21,545

Disposals

(18,290

)

At 30 November 2020

34,405

DEPRECIATION

At 1 December 2019

9,215

Charge for year

7,186

Eliminated on disposal

(5,360

)

At 30 November 2020

11,041

NET BOOK VALUE

At 30 November 2020

23,364

At 30 November 2019

21,935

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Other debtors

3,639

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.20

30.11.19

£

£

Bank loans and overdrafts

6,049

4,999

Taxation and social security

584

528

Other creditors

6,084

13,656

12,717

19,183

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.20

30.11.19

£

£

Bank loans

27,859

12,914

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Miss D Sitek.