Silverfin false 30/04/2023 01/05/2022 30/04/2023 J Fernandez-Ares 17/11/2016 R J Paterson 17/11/2016 T G Paterson 17/11/2016 05 October 2023 The principal activity of the Company during the financial year was that of a holding company. SC550490 2023-04-30 SC550490 bus:Director1 2023-04-30 SC550490 bus:Director2 2023-04-30 SC550490 bus:Director3 2023-04-30 SC550490 2022-04-30 SC550490 core:CurrentFinancialInstruments 2023-04-30 SC550490 core:CurrentFinancialInstruments 2022-04-30 SC550490 core:ShareCapital 2023-04-30 SC550490 core:ShareCapital 2022-04-30 SC550490 core:SharePremium 2023-04-30 SC550490 core:SharePremium 2022-04-30 SC550490 2021-04-30 SC550490 core:CostValuation 2022-04-30 SC550490 core:CostValuation 2023-04-30 SC550490 bus:OrdinaryShareClass1 2023-04-30 SC550490 2022-05-01 2023-04-30 SC550490 bus:FullAccounts 2022-05-01 2023-04-30 SC550490 bus:SmallEntities 2022-05-01 2023-04-30 SC550490 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 SC550490 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 SC550490 bus:Director1 2022-05-01 2023-04-30 SC550490 bus:Director2 2022-05-01 2023-04-30 SC550490 bus:Director3 2022-05-01 2023-04-30 SC550490 2021-05-01 2022-04-30 SC550490 core:Subsidiary1 2022-05-01 2023-04-30 SC550490 core:Subsidiary1 1 2022-05-01 2023-04-30 SC550490 core:Subsidiary1 1 2021-05-01 2022-04-30 SC550490 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 SC550490 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: SC550490 (Scotland)

MOORINGS HOTEL HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH THE REGISTRAR

MOORINGS HOTEL HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023

Contents

MOORINGS HOTEL HOLDINGS LIMITED

BALANCE SHEET

AS AT 30 APRIL 2023
MOORINGS HOTEL HOLDINGS LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2023
Note 2023 2022
£ £
Fixed assets
Investments 4 1 1
1 1
Current assets
Debtors 5 20,127 20,127
20,127 20,127
Creditors: amounts falling due within one year 6 ( 1) ( 1)
Net current assets 20,126 20,126
Total assets less current liabilities 20,127 20,127
Net assets 20,127 20,127
Capital and reserves
Called-up share capital 7 30 30
Share premium account 20,097 20,097
Total shareholders' funds 20,127 20,127

For the financial year ending 30 April 2023 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 Moorings Hotel Holdings Limited (registered number: SC550490) were approved and authorised for issue by the Director on 05 October 2023. They were signed on its behalf by:

T G Paterson
Director
MOORINGS HOTEL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
MOORINGS HOTEL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2023
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

Moorings Hotel Holdings 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 C/O Garfield Hotel Cumbernauld Road, Stepps, Glasgow, G33 6HW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.

Fair value is measured by use of the Black-Scholes model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

Impairment of assets

Assets are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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 assets
Basic financial assets, which include debtors, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including loans from fellow related companies, are recognised at transaction price.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Share-based payments

Equity-settled share-based payment schemes

The Company has a share option scheme for employees.

Options are exercisable at a price equal to the estimated fair value of the Company’s shares on the date of grant. The vesting period is three years. Options are forfeited if the employee leaves the Company before the options vest.

Details of the share options outstanding during the financial year are as follows:

2023 2022
Weighted Average Weighted Average
Number of share options Average exercise price (£) Number of share options Average exercise price (£)
Outstanding at beginning of period 82 87.00 82 87.00
Outstanding at the end of the period 82 87.00 82 87.00
Exercisable at the end of the period 0 0 0 0

The fair value of the share options at the grant date was calculated using the Black Scholes model, which is considered to be the most appropriate generally accepted valuation method of measuring fair value.

The expected life used in the model has been adjusted, based on management’s best estimate, for the effect of non-transferability, exercise restrictions, and behavioural considerations.

The share options are equity settled CSOP options and have a maximum term of 10 years.

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 May 2022 1
At 30 April 2023 1
Carrying value at 30 April 2023 1
Carrying value at 30 April 2022 1

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
30.04.2023
Ownership
30.04.2022
Moorings Hotel Limited C/O Garfield Hotel Cumbernauld Road, Stepps, Glasgow, United Kingdom, G33 6HW Hotels and similar accommodation Ordinary 100.00% 100.00%

5. Debtors

2023 2022
£ £
Other debtors 20,127 20,127

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 1 1

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
3,047 Ordinary Shares shares of £ 0.01 each 30 30

8. Related party transactions

Other related party transactions

2023 2022
£ £
Amounts due to related parties 1 1