Company Registration No. SC578281 (Scotland)
Fife Hotels Limited
Unaudited accounts
for the year ended 30 September 2023
Fife Hotels Limited
Unaudited accounts
Contents
Fife Hotels Limited
Company Information
for the year ended 30 September 2023
Directors
Jason Paul Borthwick
Victoria Ann Hewitt Borthwick
Company Number
SC578281 (Scotland)
Registered Office
BURNTISLAND SANDS HOTEL
LOCHIES ROAD
BURNTISLAND
KY3 9JX
UNITED KINGDOM
Accountants
Oak Team Associates Limited
272 Bath Street
Glasgow
G2 4JR
Fife Hotels Limited
Statement of financial position
as at 30 September 2023
Intangible assets
56,000
60,000
Tangible assets
305,220
325,919
Creditors: amounts falling due within one year
(12,948)
(35,327)
Net current assets
39,675
52,098
Total assets less current liabilities
400,895
438,017
Creditors: amounts falling due after more than one year
(255,449)
(280,174)
Net assets
145,446
157,843
Called up share capital
2
2
Profit and loss account
145,444
157,841
Shareholders' funds
145,446
157,843
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by
Jason Paul Borthwick
Director
Company Registration No. SC578281
Fife Hotels Limited
Notes to the Accounts
for the year ended 30 September 2023
Fife Hotels Limited is a private company, limited by shares, registered in Scotland, registration number SC578281. The registered office is BURNTISLAND SANDS HOTEL, LOCHIES ROAD, BURNTISLAND, KY3 9JX, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation charged
Fixtures & fittings
20% on a straight line basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
At 30 September 2023
80,000
At 30 September 2023
24,000
At 30 September 2023
56,000
At 30 September 2022
60,000
Intangible assets comprise of goodwill on the acquisition of the business. This is amortised over a period of 20 years on a straight line basis.
Fife Hotels Limited
Notes to the Accounts
for the year ended 30 September 2023
5
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 October 2022
285,000
103,496
388,496
At 30 September 2023
285,000
103,496
388,496
At 1 October 2022
-
62,577
62,577
Charge for the year
-
20,699
20,699
At 30 September 2023
-
83,276
83,276
At 30 September 2023
285,000
20,220
305,220
At 30 September 2022
285,000
40,919
325,919
Amounts falling due within one year
Amounts due from group undertakings etc.
52,623
87,425
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Taxes and social security
1,948
327
Loans from directors
1,000
25,000
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
255,449
280,174
9
Average number of employees
During the year the average number of employees was 0 (2022: 12).