Highland Property Development Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC359252 (Scotland)

HIGHLAND PROPERTY DEVELOPMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

M Matheson

T R Pearson

REGISTERED OFFICE:

Achnagarrie

Cromarty

Ross-shire

IV11 8XX

REGISTERED NUMBER:

SC359252 (Scotland)

ACCOUNTANTS:

MacKenzie Kerr Limited

Chartered Accountants

Redwood

19 Culduthel Road

Inverness

IV2 4AA

BANKERS:

TSB

2/4 Inglis Street

Inverness

IV1 1HN

SOLICITORS:

R W McLurg

52 Union Road

Inverness

IV2 3JY

CURRENT ASSETS

Debtors

3

10,000

-

Cash at bank

102,615

183,181

112,615

183,181

CREDITORS

Amounts falling due within one year

4

518

70,515

NET CURRENT ASSETS

112,097

112,666

TOTAL ASSETS LESS CURRENT LIABILITIES

112,097

112,666

CAPITAL AND RESERVES

Allotted, called up and fully paid share capital

5

60

60

Retained earnings

6

112,037

112,606

SHAREHOLDERS' FUNDS

112,097

112,666

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 15 August 2018 and were signed on its behalf by:

M Matheson - Director

1.	STATUTORY INFORMATION

Highland Property Development 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss)

for the current or past reporting periods. It is measured at the amount expected to be paid or recovered

using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date.

Deferred tax represents the future tax consequences of transactions and events recognised in the

financial statements of current and previous periods. It is recognised in respect of all timing

differences, with certain exceptions. Timing differences are differences between taxable profits and

total comprehensive income as stated in the financial statements that arise from the inclusion of

income and expense in tax assessments in periods different from those in which they are recognised

in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is

measured using the rates and allowances that apply to the sale of the asset.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in

other administrative expenses.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

10,000

-

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

18

15

Other creditors

500

70,500

518

70,515

5.

ALLOTTED, CALLED UP AND FULLY PAID SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

60

Ordinary

£1

60

60

6.

RESERVES

Retained

earnings

£

At 1 June 2017

112,606

Deficit for the year

(569

)

At 31 May 2018

112,037

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2018 and

31 May 2017:

2018

2017

£

£

T R Pearson

Balance outstanding at start of year

(50,000

)

(50,000

)

Amounts repaid

50,000

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(50,000

)

M Matheson

Balance outstanding at start of year

(20,000

)

-

Amounts advanced

(30,000

)

30,000

Amounts repaid

60,000

(50,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,000

(20,000

)

The balance outstanding at 31 May 2018 of £10,000 due by M Matheson has been included in debtors.

The full amount was repaid before the Balance Sheet date.

8.	ULTIMATE CONTROLLING PARTY