IRIS Accounts Production v23.2.0.158 SC267083 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC2670832022-05-31SC2670832023-05-31SC2670832022-06-012023-05-31SC2670832021-05-31SC2670832021-06-012022-05-31SC2670832022-05-31SC267083ns16:Scotland2022-06-012023-05-31SC267083ns15:PoundSterling2022-06-012023-05-31SC267083ns11:Director12022-06-012023-05-31SC267083ns11:PrivateLimitedCompanyLtd2022-06-012023-05-31SC267083ns11:SmallEntities2022-06-012023-05-31SC267083ns11:AuditExempt-NoAccountantsReport2022-06-012023-05-31SC267083ns11:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-31SC267083ns11:SmallCompaniesRegimeForAccounts2022-06-012023-05-31SC267083ns11:FullAccounts2022-06-012023-05-31SC26708312022-06-012023-05-31SC267083ns11:Director22022-06-012023-05-31SC267083ns11:CompanySecretary12022-06-012023-05-31SC267083ns11:RegisteredOffice2022-06-012023-05-31SC267083ns6:CurrentFinancialInstruments2023-05-31SC267083ns6:CurrentFinancialInstruments2022-05-31SC267083ns6:Non-currentFinancialInstruments2023-05-31SC267083ns6:Non-currentFinancialInstruments2022-05-31SC267083ns6:ShareCapital2023-05-31SC267083ns6:ShareCapital2022-05-31SC267083ns6:RetainedEarningsAccumulatedLosses2023-05-31SC267083ns6:RetainedEarningsAccumulatedLosses2022-05-31SC267083ns6:NetGoodwill2022-06-012023-05-31SC267083ns6:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-31SC267083ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-06-012023-05-31SC267083ns6:PlantMachinery2022-06-012023-05-31SC267083ns6:FurnitureFittings2022-06-012023-05-31SC267083ns6:NetGoodwill2022-05-31SC267083ns6:NetGoodwill2023-05-31SC267083ns6:NetGoodwill2022-05-31SC267083ns6:LandBuildings2022-05-31SC267083ns6:PlantMachinery2022-05-31SC267083ns6:FurnitureFittings2022-05-31SC267083ns6:LandBuildings2022-06-012023-05-31SC267083ns6:LandBuildings2023-05-31SC267083ns6:PlantMachinery2023-05-31SC267083ns6:FurnitureFittings2023-05-31SC267083ns6:LandBuildings2022-05-31SC267083ns6:PlantMachinery2022-05-31SC267083ns6:FurnitureFittings2022-05-31SC267083ns6:WithinOneYearns6:CurrentFinancialInstruments2023-05-31SC267083ns6:WithinOneYearns6:CurrentFinancialInstruments2022-05-31SC267083ns6:Secured2023-05-31SC267083ns6:Secured2022-05-31
REGISTERED NUMBER: SC267083 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

OLD PINES SCOTLAND LTD.

OLD PINES SCOTLAND LTD. (REGISTERED NUMBER: SC267083)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OLD PINES SCOTLAND LTD.

COMPANY INFORMATION
For The Year Ended 31 May 2023







DIRECTORS: Kenneth Graham Dalley
Imogen Louise Dalley





SECRETARY: Imogen Louise Dalley





REGISTERED OFFICE: R A Clement Associates
5 Argyll Square
OBAN
PA34 4AZ





REGISTERED NUMBER: SC267083 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

OLD PINES SCOTLAND LTD. (REGISTERED NUMBER: SC267083)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 18,000 21,000
Tangible assets 5 1,035,701 810,095
1,053,701 831,095

CURRENT ASSETS
Stocks 5,000 4,200
Debtors 6 490 14,422
Prepayments and accrued income - 4,324
Cash at bank and in hand 212 64,448
5,702 87,394
CREDITORS
Amounts falling due within one year 7 206,130 199,930
NET CURRENT LIABILITIES (200,428 ) (112,536 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

853,273

718,559

CREDITORS
Amounts falling due after more than one
year

8

(559,390

)

(426,088

)

PROVISIONS FOR LIABILITIES (4,251 ) (2,711 )
NET ASSETS 289,632 289,760

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 288,632 288,760
SHAREHOLDERS' FUNDS 289,632 289,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

OLD PINES SCOTLAND LTD. (REGISTERED NUMBER: SC267083)

BALANCE SHEET - continued
31 May 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:





Kenneth Graham Dalley - Director


OLD PINES SCOTLAND LTD. (REGISTERED NUMBER: SC267083)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2023

1. STATUTORY INFORMATION

Old Pines Scotland Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company is being supported by the directors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Nil
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on cost

No depreciation has been charged on heritable property as, in the opinion of the directors, there is no diminution in value of the property.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


OLD PINES SCOTLAND LTD. (REGISTERED NUMBER: SC267083)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 75,000
AMORTISATION
At 1 June 2022 54,000
Amortisation for year 3,000
At 31 May 2023 57,000
NET BOOK VALUE
At 31 May 2023 18,000
At 31 May 2022 21,000

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 June 2022 795,036 32,816 65,682 893,534
Additions 216,755 - 12,301 229,056
At 31 May 2023 1,011,791 32,816 77,983 1,122,590
DEPRECIATION
At 1 June 2022 - 19,321 64,118 83,439
Charge for year - 2,024 1,426 3,450
At 31 May 2023 - 21,345 65,544 86,889
NET BOOK VALUE
At 31 May 2023 1,011,791 11,471 12,439 1,035,701
At 31 May 2022 795,036 13,495 1,564 810,095

OLD PINES SCOTLAND LTD. (REGISTERED NUMBER: SC267083)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 13,447
Other debtors 490 975
490 14,422

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 36,603 42,272
Trade creditors 518 12,066
Taxation and social security 38,012 43,714
Other creditors 130,997 101,878
206,130 199,930

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 559,390 426,088

Amounts falling due in more than five years:

Repayable by instalments
Bank loan > 5 years 426,648 284,766

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 1,603 -
Bank loans 594,390 468,360
595,993 468,360

The Royal Bank of Scotland hold a Standard Security over The Old Pines Hotel and a Bond and Floating Charge over the whole property of the company.