Company Registration No. SC606826 (Scotland)
SHORT STAY ST ANDREWS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
PAGES FOR FILING WITH REGISTRAR
James Hair & Co
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
SHORT STAY ST ANDREWS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2021
31 August 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
15,867
15,038
Current assets
Debtors
4
115,781
62,206
Cash at bank and in hand
292,825
11,879
408,606
74,085
Creditors: amounts falling due within one year
5
(390,236)
(56,190)
Net current assets
18,370
17,895
Total assets less current liabilities
34,237
32,933
Creditors: amounts falling due after more than one year
6
(25,425)
(30,000)
Provisions for liabilities
(2,460)
-
0
Net assets
6,352
2,933
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
6,350
2,931
Total equity
6,352
2,933

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SHORT STAY ST ANDREWS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 AUGUST 2021
31 August 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 August 2022 and are signed on its behalf by:
Mr J L Mitchell
Director
Company Registration No. SC606826
SHORT STAY ST ANDREWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
- 3 -
1
Accounting policies
Company information

Short Stay St Andrews Limited is a private company limited by shares incorporated in Scotland. The registered office is 195 South Street, ST ANDREWS, Fife, KY16 9EE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises the invoiced value of let property management services provided by the company, net of Value Added Tax and trade discounts.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tenants improvements
Plant and equipment
25% straight line
Fixtures and fittings
25% straight line
Computers
33.33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.

SHORT STAY ST ANDREWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts paid by the company to the funds in respect of the year.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2021
2020
Number
Number
Total
5
5
SHORT STAY ST ANDREWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
- 5 -
3
Tangible fixed assets
Tenants improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 September 2020
5,169
2,784
2,915
1,817
11,750
24,435
Additions
-
0
1,860
594
113
3,500
6,067
At 31 August 2021
5,169
4,644
3,509
1,930
15,250
30,502
Depreciation and impairment
At 1 September 2020
1,888
1,061
728
845
4,875
9,397
Depreciation charged in the year
-
0
1,161
877
606
2,594
5,238
At 31 August 2021
1,888
2,222
1,605
1,451
7,469
14,635
Carrying amount
At 31 August 2021
3,281
2,422
1,904
479
7,781
15,867
At 31 August 2020
3,281
1,723
2,187
972
6,875
15,038
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
110,061
47,854
Corporation tax recoverable
90
90
Other debtors
-
0
7,299
Prepayments and accrued income
5,630
6,963
115,781
62,206
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
6,780
-
0
Trade creditors
13,136
2,255
Corporation tax
2,080
-
0
Other taxation and social security
76,536
23,028
Other creditors
267,639
137
Directors current accounts
21,065
30,770
Accruals and deferred income
3,000
-
0
390,236
56,190
SHORT STAY ST ANDREWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
- 6 -
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
25,425
30,000
7
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary A share of £1 each
1
1
1 Ordinary B share of £1 each
1
1
2
2
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2021
2020
£
£
99,497
-
0
2021-08-312020-09-01false25 August 2022CCH SoftwareCCH Accounts Production 2022.100No description of principal activityMr J L MitchellMiss G A CouserSC6068262020-09-012021-08-31SC6068262021-08-31SC6068262020-08-31SC606826core:LandBuildingscore:LeasedAssetsHeldAsLessee2021-08-31SC606826core:PlantMachinery2021-08-31SC606826core:FurnitureFittings2021-08-31SC606826core:ComputerEquipment2021-08-31SC606826core:MotorVehicles2021-08-31SC606826core:LandBuildingscore:LeasedAssetsHeldAsLessee2020-08-31SC606826core:PlantMachinery2020-08-31SC606826core:FurnitureFittings2020-08-31SC606826core:ComputerEquipment2020-08-31SC606826core:MotorVehicles2020-08-31SC606826core:CurrentFinancialInstrumentscore:WithinOneYear2021-08-31SC606826core:CurrentFinancialInstrumentscore:WithinOneYear2020-08-31SC606826core:CurrentFinancialInstruments2021-08-31SC606826core:CurrentFinancialInstruments2020-08-31SC606826core:Non-currentFinancialInstruments2021-08-31SC606826core:Non-currentFinancialInstruments2020-08-31SC606826core:ShareCapital2021-08-31SC606826core:ShareCapital2020-08-31SC606826core:RetainedEarningsAccumulatedLosses2021-08-31SC606826core:RetainedEarningsAccumulatedLosses2020-08-31SC606826core:ShareCapitalOrdinaryShares2021-08-31SC606826core:ShareCapitalOrdinaryShares2020-08-31SC606826bus:Director12020-09-012021-08-31SC606826core:PlantMachinery2020-09-012021-08-31SC606826core:FurnitureFittings2020-09-012021-08-31SC606826core:ComputerEquipment2020-09-012021-08-31SC606826core:MotorVehicles2020-09-012021-08-31SC6068262019-09-012020-08-31SC606826core:LandBuildingscore:LeasedAssetsHeldAsLessee2020-08-31SC606826core:PlantMachinery2020-08-31SC606826core:FurnitureFittings2020-08-31SC606826core:ComputerEquipment2020-08-31SC606826core:MotorVehicles2020-08-31SC6068262020-08-31SC606826core:LandBuildingscore:LeasedAssetsHeldAsLessee2020-09-012021-08-31SC606826bus:PrivateLimitedCompanyLtd2020-09-012021-08-31SC606826bus:SmallCompaniesRegimeForAccounts2020-09-012021-08-31SC606826bus:FRS1022020-09-012021-08-31SC606826bus:AuditExemptWithAccountantsReport2020-09-012021-08-31SC606826bus:Director22020-09-012021-08-31SC606826bus:FullAccounts2020-09-012021-08-31xbrli:purexbrli:sharesiso4217:GBP