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Registration number: SC422871

Pitlochry Lineside Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Pitlochry Lineside Limited

Contents
for the Year Ended 30 April 2023

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Pitlochry Lineside Limited

Company Information
for the Year Ended 30 April 2023

Director

Mr R D Hughes

Registered office

27a Atholl Road
Pitlochry
PH16 5BX

Registered number

SC422871 ( England and Wales )

Accountants

Windsor Accountancy Ltd
Chartered Certified Accountants
St. Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

Pitlochry Lineside Limited

(Registration number: SC422871)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

1,009

8,610

Cash at bank and in hand

 

1,968

4,532

 

2,977

13,142

Creditors: Amounts falling due within one year

6

(14,044)

(16,774)

Net liabilities

 

(11,067)

(3,632)

Capital and reserves

 

Called up share capital

10

10

Retained earnings

(11,077)

(3,642)

Shareholders' deficit

 

(11,067)

(3,632)

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.

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 his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 October 2023
 

.........................................
Mr R D Hughes
Director

 

Pitlochry Lineside Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
27a Atholl Road
Pitlochry
PH16 5BX

These financial statements were authorised for issue by the director on 25 October 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 on a going concern basis.

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.

Tax

The tax expense for the period comprises current 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.

The current income 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 taxable income.

 

Pitlochry Lineside Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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.

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.

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.

Secured Debts

Cumberland Building Society has a floating charge over the assets of the company.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Pitlochry Lineside Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2022

2,294

2,294

At 30 April 2023

2,294

2,294

Depreciation

At 1 May 2022

2,294

2,294

At 30 April 2023

2,294

2,294

Carrying amount

At 30 April 2023

-

-

5

Debtors

Note

2023
£

2022
£

Other debtors

 

374

6,905

Prepayments

 

-

1,080

Income tax asset

635

625

 

1,009

8,610

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

-

5,000

Accruals and deferred income

 

1,616

1,616

Other creditors

 

12,428

10,158

 

14,044

16,774

 

Pitlochry Lineside Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

5,000

8

Related party transactions

Transactions with the director

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr R D Hughes

Advances and credits

6,532

2,551

(11,352)

(2,268)

         
       

 

2022

At 1 May 2021
£

Advances to director
£

Repayments by director
£

At 30 April 2022
£

Mr R D Hughes

Advances and credits

14,289

19,033

(26,790)

6,532

         
       

 

Other transactions with the director

The balance due to the director at the year end date was free of interest and deemed repayable on demand.