Silverfin false 31/12/2021 31/12/2021 01/01/2021 Mrs I M Menzies 30/09/2002 Mr R P Menzies 30/09/2002 26 August 2022 The principal activity of the Company during the financial year was that of a partner in the partnership of Taymouth Holiday Centre. SC237037 2021-12-31 SC237037 bus:Director1 2021-12-31 SC237037 bus:Director2 2021-12-31 SC237037 2020-12-31 SC237037 core:CurrentFinancialInstruments 2021-12-31 SC237037 core:CurrentFinancialInstruments 2020-12-31 SC237037 core:ShareCapital 2021-12-31 SC237037 core:ShareCapital 2020-12-31 SC237037 core:RetainedEarningsAccumulatedLosses 2021-12-31 SC237037 core:RetainedEarningsAccumulatedLosses 2020-12-31 SC237037 core:CostValuation 2020-12-31 SC237037 core:RevaluationsIncreaseDecreaseInInvestments 2021-12-31 SC237037 core:CostValuation 2021-12-31 SC237037 core:ProvisionsForImpairmentInvestments 2020-12-31 SC237037 core:ProvisionsForImpairmentInvestments 2021-12-31 SC237037 bus:OrdinaryShareClass1 2021-12-31 SC237037 2021-01-01 2021-12-31 SC237037 bus:FullAccounts 2021-01-01 2021-12-31 SC237037 bus:SmallEntities 2021-01-01 2021-12-31 SC237037 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 SC237037 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 SC237037 bus:Director1 2021-01-01 2021-12-31 SC237037 bus:Director2 2021-01-01 2021-12-31 SC237037 2020-01-01 2020-12-31 SC237037 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 SC237037 bus:OrdinaryShareClass1 2020-01-01 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC237037 (Scotland)

TAYMOUTH LEISURE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH THE REGISTRAR

TAYMOUTH LEISURE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021

Contents

TAYMOUTH LEISURE LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2021
TAYMOUTH LEISURE LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2021
Note 2021 2020
£ £
Fixed assets
Investments 3 929,570 903,312
929,570 903,312
Creditors
Amounts falling due within one year 4 ( 18,787) ( 13,904)
Net current liabilities (18,787) (13,904)
Total assets less current liabilities 910,783 889,408
Net assets 910,783 889,408
Capital and reserves
Called-up share capital 5 1 1
Profit and loss account 910,782 889,407
Total shareholder's funds 910,783 889,408

For the financial year ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Taymouth Leisure Limited (registered number: SC237037) were approved and authorised for issue by the Director on 26 August 2022. They were signed on its behalf by:

Mr R P Menzies
Director
TAYMOUTH LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
TAYMOUTH LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Taymouth Leisure Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Mains Of Taymouth, Kenmore, Aberfeldy, PH15 2HN, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents the company's share of the profit of the partnership of Taymouth Holiday Centre.

Income is recognised on an accruals basis.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2021 2020
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 January 2021 903,312 903,312
Movement in fair value 26,258 26,258
At 31 December 2021 929,570 929,570
Provisions for impairment
At 01 January 2021 0 0
At 31 December 2021 0 0
Carrying value at 31 December 2021 929,570 929,570
Carrying value at 31 December 2020 903,312 903,312

4. Creditors: amounts falling due within one year

2021 2020
£ £
Other creditors 13,773 6,655
Corporation tax 5,014 7,249
18,787 13,904

5. Called-up share capital

2021 2020
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

6. Related party transactions

Transactions with the entity's directors

2021 2020
£ £
Loan from directors 12,574 5,575

The loan is unsecured, interest free and has no fixed terms of repayment.