Company Registration No. SC390272 (Scotland)
Highland Legacy Limited
Unaudited accounts
for the period from 1 January 2020 to 30 June 2021
Highland Legacy Limited
Unaudited accounts
Contents
Highland Legacy Limited
Company Information
for the period from 1 January 2020 to 30 June 2021
Company Number
SC390272 (Scotland)
Registered Office
3 Attadale Road
Inverness
Highland
IV3 5QH
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Highland Legacy Limited
Statement of financial position
as at 30 June 2021
Cash at bank and in hand
7,879
35,162
Creditors: amounts falling due within one year
(1,936)
(8,450)
Net current assets
12,302
32,406
Called up share capital
2
2
Profit and loss account
12,300
33,250
Shareholders' funds
12,302
33,252
For the period ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the period in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 August 2021 and were signed on its behalf by
C Duncan
Director
Company Registration No. SC390272
Highland Legacy Limited
Notes to the Accounts
for the period from 1 January 2020 to 30 June 2021
Highland Legacy Limited is a private company, limited by shares, registered in Scotland, registration number SC390272. The registered office is 3 Attadale Road, Inverness, Highland, IV3 5QH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance and 33.3% straight line
Investments in shares are included at fair value.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Highland Legacy Limited
Notes to the Accounts
for the period from 1 January 2020 to 30 June 2021
4
Tangible fixed assets
Total
5
Average number of employees
During the period the average number of employees was 0 (2019: 1).
