The Star Inn (Ardersier) Limited SC502299 false 2021-05-01 2022-04-30 2022-04-30 The principal activity of the company is running a public house and accomodation. Digita Accounts Production Advanced 6.30.9574.0 true true SC502299 2021-05-01 2022-04-30 SC502299 2022-04-30 SC502299 core:CurrentFinancialInstruments 2022-04-30 SC502299 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 SC502299 core:Non-currentFinancialInstruments 2022-04-30 SC502299 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 SC502299 core:FurnitureFittingsToolsEquipment 2022-04-30 SC502299 core:LandBuildings 2022-04-30 SC502299 core:OtherPropertyPlantEquipment 2022-04-30 SC502299 bus:SmallEntities 2021-05-01 2022-04-30 SC502299 bus:AuditExemptWithAccountantsReport 2021-05-01 2022-04-30 SC502299 bus:FullAccounts 2021-05-01 2022-04-30 SC502299 bus:SmallCompaniesRegimeForAccounts 2021-05-01 2022-04-30 SC502299 bus:RegisteredOffice 2021-05-01 2022-04-30 SC502299 bus:Director1 2021-05-01 2022-04-30 SC502299 bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 SC502299 core:FurnitureFittings 2021-05-01 2022-04-30 SC502299 core:FurnitureFittingsToolsEquipment 2021-05-01 2022-04-30 SC502299 core:LandBuildings 2021-05-01 2022-04-30 SC502299 core:LeaseholdImprovements 2021-05-01 2022-04-30 SC502299 core:OtherPropertyPlantEquipment 2021-05-01 2022-04-30 SC502299 core:PlantMachinery 2021-05-01 2022-04-30 SC502299 countries:Scotland 2021-05-01 2022-04-30 SC502299 2021-04-30 SC502299 core:FurnitureFittingsToolsEquipment 2021-04-30 SC502299 core:LandBuildings 2021-04-30 SC502299 core:OtherPropertyPlantEquipment 2021-04-30 SC502299 2020-05-01 2021-04-30 SC502299 2021-04-30 SC502299 core:CurrentFinancialInstruments 2021-04-30 SC502299 core:CurrentFinancialInstruments core:WithinOneYear 2021-04-30 SC502299 core:Non-currentFinancialInstruments 2021-04-30 SC502299 core:Non-currentFinancialInstruments core:AfterOneYear 2021-04-30 SC502299 core:FurnitureFittingsToolsEquipment 2021-04-30 SC502299 core:LandBuildings 2021-04-30 SC502299 core:OtherPropertyPlantEquipment 2021-04-30 iso4217:GBP xbrli:pure

Registration number: SC502299

The Star Inn (Ardersier) Limited

Unaudited Financial Statements

for the Year Ended 30 April 2022

 

The Star Inn (Ardersier) Limited

(Registration number: SC502299)
Balance Sheet as at 30 April 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

745,622

755,016

Current assets

 

Stocks

5

15,000

15,000

Debtors

6

18,043

24,270

Cash at bank and in hand

 

8,180

4,286

 

41,223

43,556

Creditors: Amounts falling due within one year

7

(847,650)

(854,321)

Net current liabilities

 

(806,427)

(810,765)

Total assets less current liabilities

 

(60,805)

(55,749)

Creditors: Amounts falling due after more than one year

7

(80,362)

(105,276)

Net liabilities

 

(141,167)

(161,025)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(141,267)

(161,125)

Shareholders' deficit

 

(141,167)

(161,025)

For the financial year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 7 September 2022
 

.........................................

Miss Louise Margaret MacDonald

Director

 

The Star Inn (Ardersier) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
A9 Accountancy Limited
Elm House
Cradlehall Business Park
Inverness
IV2 5GH

The principal place of business is:
The George Inn
Ardersier
IV2 7QB

These financial statements were authorised for issue by the director on 7 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared under the going concern basis which is considered appropriate by the director. As at 30 April 2022 the company had net current liabilities of £806,427 (2021 - £810,765) and net liabilities of £141,167 (2021 - £161,025). The company relies upon the continued support from its director and related parties to be able to meet its liabilities as they fall due and the appropriateness of the going concern basis is dependent on this support being continued.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

The Star Inn (Ardersier) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

2% straight line

Plant and machinery

25% reducing balance

Leasehold improvements

2% straight line

Fixtures and fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

The Star Inn (Ardersier) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2021 - 9).

 

The Star Inn (Ardersier) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
£

Other property, plant and equipment
£

Total
£

Cost or valuation

At 1 May 2021

735,240

86,147

155,443

976,830

Additions

-

32,850

2,149

34,999

At 30 April 2022

735,240

118,997

157,592

1,011,829

Depreciation

At 1 May 2021

63,977

43,216

114,622

221,815

Charge for the year

14,705

18,945

10,742

44,392

At 30 April 2022

78,682

62,161

125,364

266,207

Carrying amount

At 30 April 2022

656,558

56,836

32,228

745,622

At 30 April 2021

671,263

42,932

40,821

755,016

5

Stocks

2022
£

2021
£

Other inventories

15,000

15,000

6

Debtors

Current

2022
£

2021
£

Other debtors

18,043

24,270

 

The Star Inn (Ardersier) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

25,349

24,591

Trade creditors

 

12,666

16,093

Taxation and social security

 

8,808

3,261

Accruals and deferred income

 

2,485

2,365

Other creditors

 

798,342

808,011

 

847,650

854,321

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

80,362

105,276

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

80,362

105,276

2022
£

2021
£

Current loans and borrowings

Bank borrowings

25,349

24,591

RBS Plc have a floating charge over the company's assets and a fixed security over the freehold land and buildings.