Silverfin false false 31/12/2023 01/01/2023 31/12/2023 D J Dodds 04/05/1993 J Dodds 04/05/1993 N M Dodds 05/05/1993 14 March 2024 The principal activity of the company continued to be that of a coach operator. SC016437 2023-12-31 SC016437 bus:Director1 2023-12-31 SC016437 bus:Director2 2023-12-31 SC016437 bus:Director3 2023-12-31 SC016437 2022-12-31 SC016437 core:CurrentFinancialInstruments 2023-12-31 SC016437 core:CurrentFinancialInstruments 2022-12-31 SC016437 core:Non-currentFinancialInstruments 2023-12-31 SC016437 core:Non-currentFinancialInstruments 2022-12-31 SC016437 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC016437 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC016437 core:LandBuildings 2022-12-31 SC016437 core:Vehicles 2022-12-31 SC016437 core:OtherPropertyPlantEquipment 2022-12-31 SC016437 core:LandBuildings 2023-12-31 SC016437 core:Vehicles 2023-12-31 SC016437 core:OtherPropertyPlantEquipment 2023-12-31 SC016437 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 SC016437 core:ImmediateParent core:CurrentFinancialInstruments 2022-12-31 SC016437 2023-01-01 2023-12-31 SC016437 bus:FilletedAccounts 2023-01-01 2023-12-31 SC016437 bus:SmallEntities 2023-01-01 2023-12-31 SC016437 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC016437 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 SC016437 bus:Director1 2023-01-01 2023-12-31 SC016437 bus:Director2 2023-01-01 2023-12-31 SC016437 bus:Director3 2023-01-01 2023-12-31 SC016437 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 SC016437 core:Vehicles 2023-01-01 2023-12-31 SC016437 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-01-01 2023-12-31 SC016437 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-01-01 2023-12-31 SC016437 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 SC016437 2022-01-01 2022-12-31 SC016437 core:LandBuildings 2023-01-01 2023-12-31 SC016437 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 SC016437 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: SC016437 (Scotland)

DODDS OF TROON LIMITED

(A COMPANY LIMITED BY GUARANTEE)

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

DODDS OF TROON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

DODDS OF TROON LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
DODDS OF TROON LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 703,598 528,484
703,598 528,484
Current assets
Stocks 20,000 22,200
Debtors 4 99,693 93,964
Cash at bank and in hand 248,141 329,580
367,834 445,744
Creditors: amounts falling due within one year 5 ( 213,579) ( 159,753)
Net current assets 154,255 285,991
Total assets less current liabilities 857,853 814,475
Creditors: amounts falling due after more than one year 6 ( 152,500) ( 148,000)
Provision for liabilities ( 96,657) ( 79,324)
Net assets 608,696 587,151
Reserves
Profit and loss account 608,696 587,151
Total reserves 608,696 587,151

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Dodds of Troon Limited (registered number: SC016437) were approved and authorised for issue by the Board of Directors on 14 March 2024. They were signed on its behalf by:

J Dodds
Director
DODDS OF TROON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DODDS OF TROON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dodds of Troon Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 4 East Road, Ayr, KA8 9BA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts invoiced in respect of coach operator services during the year net of VAT. Revenue is recognised in respect of private hire, extended tours and day/weekend tours when the tour takes place.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Vehicles 20 - 25 % reducing balance
Other property, plant and equipment 4 - 5 years straight line
25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 24 24

3. Tangible assets

Land and buildings Vehicles Other property, plant
and equipment
Total
£ £ £ £
Cost
At 01 January 2023 334,972 2,267,696 157,112 2,759,780
Additions 0 302,500 9,883 312,383
At 31 December 2023 334,972 2,570,196 166,995 3,072,163
Accumulated depreciation
At 01 January 2023 187,601 1,887,394 156,301 2,231,296
Charge for the financial year 6,699 129,927 643 137,269
At 31 December 2023 194,300 2,017,321 156,944 2,368,565
Net book value
At 31 December 2023 140,672 552,875 10,051 703,598
At 31 December 2022 147,371 380,302 811 528,484

4. Debtors

2023 2022
£ £
Trade debtors 72,738 76,537
Corporation tax 5,572 0
Other debtors 21,383 17,427
99,693 93,964

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 48,000 48,000
Trade creditors 26,094 15,102
Amounts owed to Parent undertakings 39,388 35,088
Corporation tax 0 5,572
Other taxation and social security 17,567 21,711
Obligations under finance leases and hire purchase contracts (secured) 45,000 0
Other creditors 37,530 34,280
213,579 159,753

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate. 2023: £45,000 (2022: nil)

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 100,000 148,000
Obligations under finance leases and hire purchase contracts (secured) 52,500 0
152,500 148,000

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate. 2023: £52,500 (2022: nil)

7. Liability of members

The members of the Dodds of Troon Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.

8. Related party transactions

Other related party transactions

2023 2022
£ £
Entities with control, joint control or significant influence over the company 39,388 35,088