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28/02/2023
2023-02-28
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No description of principal activities is disclosed
2022-03-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
SC469197
2022-03-01
2023-02-28
SC469197
2023-02-28
SC469197
2022-02-28
SC469197
2021-03-01
2022-02-28
SC469197
2022-02-28
SC469197
2021-02-28
SC469197
core:FurnitureFittingsToolsEquipment
2022-03-01
2023-02-28
SC469197
bus:RegisteredOffice
2022-03-01
2023-02-28
SC469197
bus:LeadAgentIfApplicable
2022-03-01
2023-02-28
SC469197
bus:Director1
2022-03-01
2023-02-28
SC469197
core:RetainedEarningsAccumulatedLosses
2021-03-01
2022-02-28
SC469197
core:RetainedEarningsAccumulatedLosses
2022-03-01
2023-02-28
SC469197
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2023-02-28
SC469197
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2022-02-28
SC469197
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2023-02-28
SC469197
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2022-02-28
SC469197
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2023-02-28
SC469197
core:ShareCapital
2022-02-28
SC469197
core:RevaluationReserve
2023-02-28
SC469197
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2022-02-28
SC469197
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2023-02-28
SC469197
core:RetainedEarningsAccumulatedLosses
2022-02-28
SC469197
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2021-02-28
SC469197
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2021-02-28
SC469197
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2021-02-28
SC469197
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2022-02-28
SC469197
bus:Director1
2023-02-28
SC469197
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2022-02-28
SC469197
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2021-03-01
2022-02-28
SC469197
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2022-03-01
2023-02-28
SC469197
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2022-03-01
2023-02-28
SC469197
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2022-03-01
2023-02-28
SC469197
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2022-03-01
2023-02-28
SC469197
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2022-03-01
2023-02-28
Company registration number:
SC469197
Millburn Inns Ltd
Trading as
Chieftain Hotel
Unaudited filleted abridged financial statements
28 February 2023
Millburn Inns Ltd
Contents
Directors and other information
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Millburn Inns Ltd
Directors and other information
|
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Directors |
Mr Kenneth McNellan |
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Company number |
SC469197 |
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Registered office |
2 Millburn Road |
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Inverness |
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IV2 3PS |
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Business address |
2 Millburn Road |
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Inverness |
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IV2 3PS |
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Accountant |
MOR Accounting Services |
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11 Glenfield Avenue |
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Cowdenbeath |
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Fife |
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KY49EN |
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Millburn Inns Ltd
Abridged statement of financial position
28 February 2023
|
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2023 |
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2022 |
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Note |
£ |
|
£ |
|
£ |
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£ |
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|
|
|
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|
Fixed assets |
|
|
|
|
|
|
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|
Tangible assets |
|
7 |
27,573 |
|
|
|
17,116 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
27,573 |
|
|
|
17,116 |
|
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|
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|
|
|
|
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|
Current assets |
|
|
|
|
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Stocks |
|
8 |
21,779 |
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|
14,593 |
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|
Debtors |
|
|
14,079 |
|
|
|
20,341 |
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|
Cash at bank and in hand |
|
|
71,294 |
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|
101,935 |
|
|
|
|
|
_______ |
|
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|
_______ |
|
|
|
|
|
107,152 |
|
|
|
136,869 |
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|
Creditors: amounts falling due |
|
|
|
|
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|
within one year |
|
|
(
64,752) |
|
|
|
(
72,747) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
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|
42,400 |
|
|
|
64,122 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
69,973 |
|
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|
81,238 |
|
|
|
|
|
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|
|
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Creditors: amounts falling due |
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|
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|
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after more than one year |
|
|
|
|
(
49,267) |
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|
|
(
49,267) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
20,706 |
|
|
|
31,971 |
|
|
|
|
|
_______ |
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|
_______ |
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|
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Capital and reserves |
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Called up share capital |
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|
100 |
|
|
|
100 |
Revaluation reserve |
|
|
|
|
(
31) |
|
|
|
(
31) |
Profit and loss account |
|
|
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20,637 |
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31,902 |
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|
|
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|
_______ |
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|
_______ |
Shareholders funds |
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|
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20,706 |
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|
31,971 |
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|
|
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|
_______ |
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_______ |
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For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
31 October 2023
, and are signed on behalf of the board by:
Mr Kenneth McNellan
Director
Company registration number:
SC469197
Millburn Inns Ltd
Statement of changes in equity
Year ended 28 February 2023
|
|
Called up share capital |
|
Revaluation reserve |
|
Profit and loss account |
Total |
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|
£ |
|
£ |
|
£ |
£ |
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|
|
|
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|
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At 1 March 2021 |
|
100 |
|
(
31) |
|
(
25,315) |
(
25,246) |
|
|
|
|
|
|
|
|
|
|
|
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|
(Loss)/profit for the year |
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57,217 |
57,217 |
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|
_______ |
|
_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
|
- |
|
- |
|
57,217 |
57,217 |
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|
|
|
|
|
|
|
|
|
|
|
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|
_______ |
|
_______ |
|
_______ |
_______ |
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At 28 February 2022 and 1 March 2022 |
|
100 |
|
(
31) |
|
31,902 |
31,971 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
(Loss)/profit for the year |
|
|
|
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|
(
11,265) |
(
11,265) |
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
|
|
|
Total comprehensive income for the year |
|
- |
|
- |
|
(
11,265) |
(
11,265) |
|
|
|
|
|
|
|
|
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|
|
|
|
|
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|
_______ |
|
_______ |
|
_______ |
_______ |
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|
At 28 February 2023 |
|
100 |
|
(
31) |
|
20,637 |
20,706 |
|
|
|
|
|
_______ |
|
_______ |
|
_______ |
_______ |
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Millburn Inns Ltd
Notes to the financial statements
Year ended 28 February 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Chieftain Hotel, 2 Millburn Road, Inverness, IV2 3PS.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, over the useful economic life.
|
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Fittings fixtures and equipment |
- |
15 % |
straight line |
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|
.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5.
Operating loss/profit
Operating loss/profit is stated after charging/(crediting):
|
|
|
|
2023 |
2022 |
|
|
|
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
8,269 |
8,281 |
|
|
|
|
_______ |
_______ |
|
|
|
|
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|
6.
Employee numbers
The average number of persons employed by the company during the year amounted to
15
(2022:
16
).
7.
Tangible assets
|
|
|
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
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|
At 1 March 2022 |
57,609 |
|
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|
|
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Additions |
18,726 |
|
|
|
|
|
|
|
|
_______ |
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At 28 February 2023 |
76,335 |
|
|
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|
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|
_______ |
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Depreciation |
|
|
|
|
|
|
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At 1 March 2022 |
40,493 |
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|
|
|
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Charge for the year |
8,269 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
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At 28 February 2023 |
48,762 |
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|
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|
|
|
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|
_______ |
|
|
|
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Carrying amount |
|
|
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|
|
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At 28 February 2023 |
27,573 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 28 February 2022 |
17,116 |
|
|
|
|
|
|
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|
_______ |
|
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|
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8.
Stocks
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Finished goods and goods for resale |
|
21,779 |
14,593 |
|
|
|
_______ |
_______ |
|
|
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|
|
Closing Stock value per stocktaker report
9.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
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|
|
|
|
|
|
|
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|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr Kenneth McNellan |
702 |
- |
702 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr Kenneth McNellan |
- |
702 |
702 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
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|