Highland Marketing Ltd 31/03/2023 iXBRL
Highland Marketing Ltd 31/03/2023 iXBRL
Company registration number:
04207380
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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Secretary |
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Company number |
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Registered office |
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Business address |
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Accountants |
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20 Barnton Street | ||
Stirling | ||
FK8 1NE | ||
Bankers |
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Units 22/23 | ||
Thistles Shopping Centre | ||
Goosecroft Road | ||
Stirling | ||
FK8 2EA | ||
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Highland Marketing Ltd
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Highland Marketing Ltd for the year ended 31 March 2023 which comprise the statement of financial position and 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 http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of Highland Marketing Ltd, as a body, in accordance with the terms of our engagement letter dated 25 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Highland Marketing Ltd and state those matters that we have agreed to state to the board of directors of Highland Marketing Ltd as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Highland Marketing Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Highland Marketing Ltd 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 Highland Marketing Ltd. You consider that Highland Marketing Ltd 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 Highland Marketing Ltd. 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.
Chartered Accountants
20 Barnton Street
Stirling
FK8 1NE
14 December 2023
Statement of financial position
31 March 2023
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Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Current assets | |||||||||
Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 7 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 8 |
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Provisions for liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
14 December 2023
, and are signed on behalf of the board by:
Director
Company registration number:
04207380
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 44 Shakespeare Drive, Upper Caldecote, Bedfordshire, SG18 9DD.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
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.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment | - |
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Office equipment | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
The company has only basic financial instruments that are recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
8
(2022:
9
).
5.
Tangible assets
Plant and machinery | Fixtures, fittings and equipment | Total | ||
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Cost | ||||
At 1 April 2022 |
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Additions | - |
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At 31 March 2023 |
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Depreciation | ||||
At 1 April 2022 |
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Charge for the year |
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At 31 March 2023 |
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Carrying amount | ||||
At 31 March 2023 | - |
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At 31 March 2022 |
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6.
Debtors
2023 | 2022 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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7.
Creditors: amounts falling due within one year
2023 | 2022 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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8.
Creditors: amounts falling due after more than one year
2023 | 2022 | |||
£ | £ | |||
Bank loans and overdrafts |
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9.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | |||||
2023 | |||||
Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
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2022 | |||||
Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
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10.
Controlling party
The company is controlled by the directors who hold 100% of the issued share capital.