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REGISTERED NUMBER: SC617793 (Scotland)















THE GLENTRESS HOTEL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2023






THE GLENTRESS HOTEL LIMITED (REGISTERED NUMBER: SC617793)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THE GLENTRESS HOTEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTORS: Mr M Nisbet
Mrs A C Nisbet
Miss E M Thomas





REGISTERED OFFICE: The Glentress Hotel
Glentress
Peebles
EH45 8NB





REGISTERED NUMBER: SC617793 (Scotland)





ACCOUNTANTS: Carston Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

THE GLENTRESS HOTEL LIMITED (REGISTERED NUMBER: SC617793)

STATEMENT OF FINANCIAL POSITION
28TH FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 429,704 443,585

CURRENT ASSETS
Stocks 4,816 4,881
Debtors 5 1,120 4,851
Cash at bank and in hand 5,219 3,288
11,155 13,020
CREDITORS
Amounts falling due within one year 6 128,035 131,504
NET CURRENT LIABILITIES (116,880 ) (118,484 )
TOTAL ASSETS LESS CURRENT LIABILITIES 312,824 325,101

CREDITORS
Amounts falling due after more than one
year

7

397,663

373,065
NET LIABILITIES (84,839 ) (47,964 )

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 49,950 49,950
Retained earnings (134,889 ) (98,014 )
(84,839 ) (47,964 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

THE GLENTRESS HOTEL LIMITED (REGISTERED NUMBER: SC617793)

STATEMENT OF FINANCIAL POSITION - continued
28TH FEBRUARY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th November 2023 and were signed on its behalf by:





Mr M Nisbet - Director


THE GLENTRESS HOTEL LIMITED (REGISTERED NUMBER: SC617793)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023


1. STATUTORY INFORMATION

The Glentress Hotel Limited 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% straight line on cost
Fixtures and fittings - 20% straight line on cost
Motor vehicles - 25% straight line on cost
Equipment - 20% straight line on cost

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

THE GLENTRESS HOTEL LIMITED (REGISTERED NUMBER: SC617793)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property Equipment fittings
£    £    £   
COST
At 1st March 2022 387,847 42,155 49,242
Additions - 1,093 -
Disposals - - -
At 28th February 2023 387,847 43,248 49,242
DEPRECIATION
At 1st March 2022 - 22,739 19,453
Charge for year - 8,649 9,848
Eliminated on disposal - - -
At 28th February 2023 - 31,388 29,301
NET BOOK VALUE
At 28th February 2023 387,847 11,860 19,941
At 28th February 2022 387,847 19,416 29,789

Motor
vehicles Equipment Totals
£    £    £   
COST
At 1st March 2022 19,227 4,143 502,614
Additions 11,500 667 13,260
Disposals (19,227 ) - (19,227 )
At 28th February 2023 11,500 4,810 496,647
DEPRECIATION
At 1st March 2022 14,420 2,417 59,029
Charge for year 2,875 962 22,334
Eliminated on disposal (14,420 ) - (14,420 )
At 28th February 2023 2,875 3,379 66,943
NET BOOK VALUE
At 28th February 2023 8,625 1,431 429,704
At 28th February 2022 4,807 1,726 443,585

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,120 4,851

THE GLENTRESS HOTEL LIMITED (REGISTERED NUMBER: SC617793)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 44,355 49,973
Hire purchase contracts 3,567 3,904
Trade creditors 4,689 520
Taxation and social security 7,958 3,779
Other creditors 67,466 73,328
128,035 131,504

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 320,674 294,812
Hire purchase contracts 6,989 8,253
Other creditors 70,000 70,000
397,663 373,065