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REGISTERED NUMBER: SC735533 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 15 JUNE 2022 TO 30 JUNE 2023

FOR

SWEENEY ROOMS AVIEMORE LTD

SWEENEY ROOMS AVIEMORE LTD (REGISTERED NUMBER: SC735533)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 15 JUNE 2022 TO 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SWEENEY ROOMS AVIEMORE LTD

COMPANY INFORMATION
FOR THE PERIOD 15 JUNE 2022 TO 30 JUNE 2023







DIRECTORS: S Sweeney
M Sweeney





REGISTERED OFFICE: 37 Morris Crescent
Motherwell
Lanarkshire
ML1 5NH





BUSINESS ADDRESS: 137 Grampian Road
Aviemore
PH22 1RP





REGISTERED NUMBER: SC735533 (Scotland)





ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG

SWEENEY ROOMS AVIEMORE LTD (REGISTERED NUMBER: SC735533)

BALANCE SHEET
30 JUNE 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 89,363
Investment property 5 909,592
998,955

CURRENT ASSETS
Debtors 6 1,675
Cash at bank 8,292
9,967
CREDITORS
Amounts falling due within one year 7 34,391
NET CURRENT LIABILITIES (24,424 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

974,531

CREDITORS
Amounts falling due after more than one
year

8

1,047,259
NET LIABILITIES (72,728 )

CAPITAL AND RESERVES
Called up share capital 4
Retained earnings (72,732 )
(72,728 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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.

SWEENEY ROOMS AVIEMORE LTD (REGISTERED NUMBER: SC735533)

BALANCE SHEET - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:





M Sweeney - Director


SWEENEY ROOMS AVIEMORE LTD (REGISTERED NUMBER: SC735533)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 15 JUNE 2022 TO 30 JUNE 2023

1. STATUTORY INFORMATION

Sweeney Rooms Aviemore Ltd 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 stated net of VAT and trade discounts. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.


SWEENEY ROOMS AVIEMORE LTD (REGISTERED NUMBER: SC735533)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15 JUNE 2022 TO 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern
At the balance sheet date the company had net current liabilities. The directors' have agreed to support the business for the foreseeable future and on this basis the accounts are prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. TANGIBLE FIXED ASSETS
Fixtures
& fittings
£   
COST
Additions 91,654
At 30 June 2023 91,654
DEPRECIATION
Charge for period 2,291
At 30 June 2023 2,291
NET BOOK VALUE
At 30 June 2023 89,363

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 909,592
At 30 June 2023 909,592
NET BOOK VALUE
At 30 June 2023 909,592

SWEENEY ROOMS AVIEMORE LTD (REGISTERED NUMBER: SC735533)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15 JUNE 2022 TO 30 JUNE 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 36
Other debtors 1,639
1,675

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 2,016
Other creditors 32,375
34,391

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other creditors 1,047,259

9. SECURED DEBTS

The following secured debts are included within creditors:

£   
Other loans 768,750

Empowered Trustees LTD (As Security Trustee) hold a standard security over the property at 137 Grampian Road Aviemore PH22 1RP.

Together Commercial Finance Limited hold a standard security over the property at 137 Grampian Road Aviemore PH22 1RP.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 June 2023:

£   
M Sweeney and S Sweeney
Balance outstanding at start of period -
Amounts advanced 60,537
Amounts repaid (60,537 )
Amounts written off -
Amounts waived -
Balance outstanding at end of period -

The Direcor's loan account is interest free and is repayable on demand.

SWEENEY ROOMS AVIEMORE LTD (REGISTERED NUMBER: SC735533)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15 JUNE 2022 TO 30 JUNE 2023

11. RELATED PARTY DISCLOSURES

Included within other creditors is £44,601 due to Ladywell Developments Limited, a company under common control.

Included within other creditors is £21,800 due to Sweeney Housing Limited, a company under common control.

Included within other creditors is £17,659 due to Brogan Property Investments Limited, a company under common control.

Included within other creditors is £81,517 due to Samuel James Property Group Ltd, a company under common control.

Included within other creditors is £72,931 due to Sweeney Group Limited, a company under common control.