Period from 8 December 2021 to
Registration number:
Dunkeld Opco Limited
Balance Sheet
31 December 2022
Note |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Shareholders' deficit |
( |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 13789389
Dunkeld Opco Limited
Notes to the Financial Statements
Period from 8 December 2021 to 31 December 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
The Dunkeld House Hotel
Dunkeld
Perthshire
PH8 0HX
These financial statements were authorised for issue by the
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in pounds sterling which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest pound.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The preparation of financial statements in conformity with FRS102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are outlined within this note.
Dunkeld Opco Limited
Notes to the Financial Statements
Period from 8 December 2021 to 31 December 2022
Audit report
Disclosure of long or short period
Going concern
At the balance sheet date the company has net current liabilities of £1,416,888, and net liabilities of £22,300.
The directors have considered a number of factors in respect of the appropriateness of the going concern assertion. The company is supported by its parent undertaking, Dunkeld Propco Limited and the wider group under the control of Blantree Holdco Limited.
After due consideration of the factors outlined, the Directors continue to apply the going concern basis to the preparation of the financial statements.
Revenue recognition
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.
Accommodation revenue is recognised at the point of the customer staying in the room. Deposits received in advance of customer stays are treated as payments on account and recognised within other creditors, part of creditors due within one year.
Food, beverage and all other sales are recognised at the point of sale.
Rent received is recognised in other operating income.
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.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Dunkeld Opco Limited
Notes to the Financial Statements
Period from 8 December 2021 to 31 December 2022
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.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
Straight line over 5-20 years |
Plant and machinery |
Straight line over 5 years |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Payments on account;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Dunkeld Opco Limited
Notes to the Financial Statements
Period from 8 December 2021 to 31 December 2022
Critical judgements and estimation uncertainty
In applying the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Carrying value of property
The Directors have carefully considered the depreciation estimates applied on the tangible assets held by the Company. This assessment is performed on an annual basis and would be amended when necessary to reflect current estimates based on technological advancements, future investments, economic utilisation and physical condition of each asset. Valuations performed for internal purposes have been considered by the Directors, factoring in the asset value held in the parent undertaling Dunkeld Propco Limited, and in light of this no impairment is viewed as being necessary.
The carrying value of tangible fixed assets at the balance sheet date is £1,436,469.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Dunkeld Opco Limited
Notes to the Financial Statements
Period from 8 December 2021 to 31 December 2022
Tangible assets |
Furniture, fittings and equipment |
Plant and machinery |
Total |
|
Cost or valuation |
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Acquired through business combinations |
- |
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Additions |
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Disposals |
- |
( |
( |
At 31 December 2022 |
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Depreciation |
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Charge for the period |
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Eliminated on disposal |
- |
( |
( |
At 31 December 2022 |
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Carrying amount |
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At 31 December 2022 |
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Stocks |
2022 |
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Consumables |
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Debtors |
2022 |
|
Trade debtors |
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Other debtors |
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Prepayments |
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Dunkeld Opco Limited
Notes to the Financial Statements
Period from 8 December 2021 to 31 December 2022
Creditors |
Creditors: amounts falling due within one year
2022 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2022 |
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No. |
£ |
|
|
|
1 |
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The company has provided a guarantee for bank borrowings in its immediate parent undertaking, as well as on borrowings between its immediate parent undertaking and the ultimate parent undertaking Blantree Holdco Limited.
The total amount of financial commitments not included in the balance sheet is £
Dunkeld Opco Limited
Notes to the Financial Statements
Period from 8 December 2021 to 31 December 2022
Audit report |
The financial statements for the period ended 31 December 2022 were audited by:
PKF Francis Clark, statutory auditor
Lowin House
Tregolls Road
Truro
TR1 2NA
The senior statutory auditor was Thomas Roach BSc FCA
An unqualified and unmodified auditors' report on the financial statements for the period ended 31 December 2022 has been issued.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is