1 September 2022 v2024.4.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBPSC3726942022-09-012023-08-31SC3726942023-08-31SC3726942022-08-31SC372694core:WithinOneYear2023-08-31SC372694core:WithinOneYear2022-08-31SC372694core:AfterOneYear2023-08-31SC372694core:AfterOneYear2022-08-31SC372694core:ShareCapital2023-08-31SC372694core:ShareCapital2022-08-31SC372694core:RevaluationReserve2023-08-31SC372694core:RevaluationReserve2022-08-31SC372694core:RetainedEarningsAccumulatedLosses2023-08-31SC372694core:RetainedEarningsAccumulatedLosses2022-08-31SC372694bus:Director12022-09-012023-08-31SC372694core:CostValuation2022-09-01SC372694core:CostValuation2023-08-31SC37269412022-09-012023-08-31SC37269412022-09-012023-08-31SC3726942021-09-012022-08-31SC372694countries:Scotland2022-09-012023-08-31SC372694bus:AuditExemptWithAccountantsReport2022-09-012023-08-31SC372694bus:PrivateLimitedCompanyLtd2022-09-012023-08-31SC372694bus:SmallEntities2022-09-012023-08-31SC372694bus:FullAccounts2022-09-012023-08-31
Company registration number:
SC372694
Green Hotel Property Limited
Unaudited Filleted Financial Statements for the year ended
31 August 2023
Smartworks Chartered Accountants
9 Green Wood, Kinross, Perth & Kinross, KY13 8FG, Scotland
Green Hotel Property Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Green Hotel Property Limited
Year ended
31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Green Hotel Property Limited
for the year ended
31 August 2023
which comprise the income statement, statement of total comprehensive income, statement of financial position, statement of changes in equity and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/​accountspreparationguidance.
This report is made solely to the Board of Directors of
Green Hotel Property Limited
, as a body. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Green Hotel Property Limited
and state those matters that we have agreed to state to the Board of Directors of
Green Hotel Property Limited
, as a body, in this report in accordance with the requirements of the ICAS as detailed at http://www.icas.com/​accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Green Hotel Property Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Green Hotel Property Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Green Hotel Property Limited
. You consider that
Green Hotel Property Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Green Hotel Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Smartworks Chartered Accountants
9 Green Wood
Kinross
Perth & Kinross
KY13 8FG
Scotland
Date:
5 February 2024
Green Hotel Property Limited
Statement of Financial Position
31 August 2023
20232022
Note££
Fixed assets    
Investments 5
160,000
 
160,000
 
Current assets    
Debtors 6
211,691
 
214,437
 
Cash at bank and in hand
229
 
50
 
211,920
 
214,487
 
Creditors: amounts falling due within one year 7
(600
)
(6,018
)
Net current assets
211,320
 
208,469
 
Total assets less current liabilities 371,320   368,469  
Creditors: amounts falling due after more than one year 8
(199,030
)
(199,030
)
Net assets
172,290
 
169,439
 
Capital and reserves    
Called up share capital
100
 
100
 
Revaluation reserve
22,819
 
22,819
 
Profit and loss account
149,371
 
146,520
 
Shareholders funds
172,290
 
169,439
 
For the year ending
31 August 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
5 February 2024
, and are signed on behalf of the board by:
J Montgomery
Director
Company registration number:
SC372694
Green Hotel Property Limited
Notes to the Financial Statements
Year ended
31 August 2023

1 General information

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The company continues to trade with the support of the director.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2022: Nil).

5 Investments

Other investments other than loans
£
Cost  
At
1 September 2022
160,000
 
At
31 August 2023
160,000
 
Impairment  
At
1 September 2022
and
31 August 2023
-  
Carrying amount  
At
31 August 2023
160,000
 
At 31 August 2022
160,000
 
The value of the investment properties has been determined by Paragon Bank in November 2020.

6 Debtors

20232022
££
Amounts owed by group undertakings and undertakings in which the company has a participating interest
211,287
 
214,337
 
Other debtors
404
 
100
 
211,691
 
214,437
 

7 Creditors: amounts falling due within one year

20232022
££
Taxation and social security -  
5,282
 
Other creditors
600
 
736
 
600
 
6,018
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
99,030
 
99,030
 
Other creditors
100,000
 
100,000
 
199,030
 
199,030
 

9 Directors' advances, credit and guarantees

At the year end the director owed the company £304 (2022: CR £136). The loan was unsecured, interest free and with no fixed terms for repayment, and was repaid within 9 months of the year end date.

11 Controlling party

The Company is controlled by Mr Edward Montgomery