Caseware UK (AP4) 2022.0.179 2022.0.179 2022-11-302022-11-30false2021-12-01truefalseNo description of principal activity22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC180246 2021-12-01 2022-11-30 SC180246 2020-12-01 2021-11-30 SC180246 2022-11-30 SC180246 2021-11-30 SC180246 c:Director1 2021-12-01 2022-11-30 SC180246 c:Director2 2021-12-01 2022-11-30 SC180246 c:RegisteredOffice 2021-12-01 2022-11-30 SC180246 c:Agent1 2021-12-01 2022-11-30 SC180246 d:Buildings 2021-12-01 2022-11-30 SC180246 d:Buildings 2022-11-30 SC180246 d:Buildings 2021-11-30 SC180246 d:PlantMachinery 2021-12-01 2022-11-30 SC180246 d:PlantMachinery 2022-11-30 SC180246 d:PlantMachinery 2021-11-30 SC180246 d:MotorVehicles 2021-12-01 2022-11-30 SC180246 d:MotorVehicles 2022-11-30 SC180246 d:MotorVehicles 2021-11-30 SC180246 d:FurnitureFittings 2021-12-01 2022-11-30 SC180246 d:FurnitureFittings 2022-11-30 SC180246 d:FurnitureFittings 2021-11-30 SC180246 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-11-30 SC180246 d:CopyrightsPatentsTrademarksServiceOperatingRights 2021-11-30 SC180246 d:FreeholdInvestmentProperty 2022-11-30 SC180246 d:FreeholdInvestmentProperty 2021-11-30 SC180246 d:CurrentFinancialInstruments 2022-11-30 SC180246 d:CurrentFinancialInstruments 2021-11-30 SC180246 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 SC180246 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 SC180246 d:ShareCapital 2022-11-30 SC180246 d:ShareCapital 2021-11-30 SC180246 d:RetainedEarningsAccumulatedLosses 2022-11-30 SC180246 d:RetainedEarningsAccumulatedLosses 2021-11-30 SC180246 c:OrdinaryShareClass1 2021-12-01 2022-11-30 SC180246 c:OrdinaryShareClass1 2022-11-30 SC180246 c:OrdinaryShareClass1 2021-11-30 SC180246 c:FRS102 2021-12-01 2022-11-30 SC180246 c:AuditExempt-NoAccountantsReport 2021-12-01 2022-11-30 SC180246 c:FullAccounts 2021-12-01 2022-11-30 SC180246 c:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 SC180246 6 2021-12-01 2022-11-30 SC180246 3 2022-11-30 SC180246 3 2021-11-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC180246










BALLATHIE ESTATES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

 
BALLATHIE ESTATES LIMITED
 

COMPANY INFORMATION


Directors
J R Milligan 
M Milligan 




Registered number
SC180246



Registered office
Ballathie House Kinclaven
By Stanley

Perthshire

PH1 4QN




Accountants
EQ Accountants LLP
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH




Bankers
Virgin Money
158-162 High Street

St. John's Centre

Perth

United Kingdom

PH1 5UG




Solicitors
Shepherd and Wedderburn LLP
1 Berry Street

Aberdeen

AB25 1HF





 
BALLATHIE ESTATES LIMITED
REGISTERED NUMBER: SC180246

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2022

2022
2021
£
£

Fixed assets
  

Intangible assets
 4 
550,000
550,000

Tangible assets
  
68,000
68,000

Investments
 6 
1,618,542
1,618,328

Investment property
  
3,346,915
3,346,915

  
5,583,457
5,583,243

Current assets
  

Stocks
  
1,370
1,370

Debtors: amounts falling due within one year
 8 
1,686,881
1,290,389

Bank and cash balances
  
522
110

  
1,688,773
1,291,869

Creditors: amounts falling due within one year
 9 
(2,887,465)
(2,700,080)

Net current liabilities
  
 
 
(1,198,692)
 
 
(1,408,211)

Total assets less current liabilities
  
4,384,765
4,175,032

Provisions for liabilities
  

Deferred tax
  
(68,264)
(71,000)

  
 
 
(68,264)
 
 
(71,000)

Net assets
  
4,316,501
4,104,032


Capital and reserves
  

Called up share capital 
 10 
2,900,000
2,900,000

Profit and loss account
  
1,416,501
1,204,032

  
4,316,501
4,104,032


Page 1

 
BALLATHIE ESTATES LIMITED
REGISTERED NUMBER: SC180246

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 October 2023.




M Milligan
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BALLATHIE ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

1.


General information

Ballathie Estates Limited is a private company, limited by shares, incorporated in Scotland with registration number SC180246. The registered office is Ballathie House Kinclaven, By Stanley, Perthshire, PH1 4QN.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
BALLATHIE ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
BALLATHIE ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.

Depreciation is provided on the following basis:

Forestry land
-
No depreciation
Plant and machinery
-
25% straight line
Motor vehicles
-
25% to 33% straight line
Fixtures, fittings and equipment
-
10% to 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

Page 5

 
BALLATHIE ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Intangible assets




Other

£



Cost


At 1 December 2021
550,000



At 30 November 2022

550,000






Net book value



At 30 November 2022
550,000



At 30 November 2021
550,000



Page 6

 
BALLATHIE ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

5.


Tangible fixed assets





Forestry land
Plant and machinery
Motor vehicles
Fixtures, fittings & equipment
Total

£
£
£
£
£



Cost or valuation


At 1 December 2021
68,000
556,200
27,730
510
652,440


Disposals
-
-
(21,275)
-
(21,275)



At 30 November 2022

68,000
556,200
6,455
510
631,165



Depreciation


At 1 December 2021
-
556,200
27,730
510
584,440


Disposals
-
-
(21,275)
-
(21,275)



At 30 November 2022

-
556,200
6,455
510
563,165



Net book value



At 30 November 2022
68,000
-
-
-
68,000



At 30 November 2021
68,000
-
-
-
68,000

The value of the forestry land at £68,000 (2021 - £68,000) at the balance sheet date reflects the directors' valuation. 


6.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 December 2021
1,613,015
5,313
1,618,328


Additions
-
214
214



At 30 November 2022
1,613,015
5,527
1,618,542






Net book value



At 30 November 2022
1,613,015
5,527
1,618,542



At 30 November 2021
1,613,015
5,313
1,618,328

The Company owns 100% of the issued ordinary share capital of Ballathie House Hotel Company Limited. 

Page 7

 
BALLATHIE ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

7.


Investment property


Freehold investment property

£



Valuation


At 1 December 2021
3,346,915



At 30 November 2022
3,346,915

Investment property comprises agricultural land and buildings and Ballathie House Hotel. The fair value of the hotel has been arrived at on the basis of a valuation carried out at 23 July 2018 by Christie & Co. This valuation was made on an open market value basis. The directors' believe that the valuation still applies at the year ended 30 November 2022. 



At 30 November 2022





8.


Debtors

2022
2021
£
£


Trade debtors
-
10,473

Other debtors
1,288,435
951,284

Prepayments and accrued income
13,643
24,096

Tax recoverable
384,803
304,536

1,686,881
1,290,389


Page 8

 
BALLATHIE ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

9.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans and overdrafts
1,831,364
1,800,053

Trade creditors
21,630
25,338

Amounts owed to group undertakings
340,648
274,914

Other taxation and social security
673,894
583,107

Other creditors
19,929
16,668

2,887,465
2,700,080


Secured Loans 
The Company has also provided a guarantee for the borrowings of its subsidiaries. The maximum liability under this guarantee at 30 November 2022 amounted to £1,890,313 (2021 - £1,807,867)


10.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



2,900,000 (2021 - 2,900,000) Ordinary shares of £1.00 each
2,900,000
2,900,000



11.


Related party transactions

Included within net amount owed to group undertakings is a loan to Ballathie House Hotel Company Limited of £340,648 (2021 - £274,917). The loan is interest free and has no fixed repayment terms. 


Page 9