Registered number
SC703474
Friars Carse Country House Hotel Limited
Unaudited Filleted Accounts
31 July 2023
Friars Carse Country House Hotel Limited
Registered number: SC703474
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 36,798 48,798
Tangible assets 4 1,185,107 1,185,439
1,221,905 1,234,237
Current assets
Debtors 5 291,807 215,000
Cash at bank and in hand 18,232 2,386
310,039 217,386
Creditors: amounts falling due within one year 6 (2,602,616) (1,956,138)
Net current liabilities (2,292,577) (1,738,752)
Net liabilities (1,070,672) (504,515)
Capital and reserves
Called up share capital 1 1
Profit and loss account (1,070,673) (504,516)
Shareholder's funds (1,070,672) (504,515)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Zhen Sun
Director
Approved by the board on 31 July 2024
Friars Carse Country House Hotel Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The company has net liabilities and is therefore dependent upon the continuing support of its creditors and director. On the basis that this support is expected to continue, the accounts have been drawn up on the going concern basis.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 36 36
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 60,000
At 31 July 2023 60,000
Amortisation
At 1 August 2022 11,202
Provided during the year 12,000
At 31 July 2023 23,202
Net book value
At 31 July 2023 36,798
At 31 July 2022 48,798
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 964,988 191,622 63,143 1,219,753
Additions - 40,930 - 40,930
At 31 July 2023 964,988 232,552 63,143 1,260,683
Depreciation
At 1 August 2022 - 33,216 1,098 34,314
Charge for the year - 28,853 12,409 41,262
At 31 July 2023 - 62,069 13,507 75,576
Net book value
At 31 July 2023 964,988 170,483 49,636 1,185,107
At 31 July 2022 964,988 158,406 62,045 1,185,439
5 Debtors 2023 2022
£ £
Other debtors 291,807 215,000
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 50,128 55,935
Taxation and social security costs 165,517 55,822
Other creditors 2,386,971 1,844,381
2,602,616 1,956,138
7 Other information
Friars Carse Country House Hotel Limited is a private company limited by shares and incorporated in England. Its registered office is:
Friars Carse
Auldgirth
Dumfries
DG2 0SA
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