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REGISTERED NUMBER: 01319576 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

CAIRNGORM SKI SERVICES LIMITED

CAIRNGORM SKI SERVICES LIMITED (REGISTERED NUMBER: 01319576)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CAIRNGORM SKI SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTORS: P Southcott
Mrs D M Southcott
A J Southcott
D A Southcott
R M Southcott





REGISTERED OFFICE: Unit H Opus 36
New Potter Grange Road
Goole
DN14 6BZ





REGISTERED NUMBER: 01319576 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

CAIRNGORM SKI SERVICES LIMITED (REGISTERED NUMBER: 01319576)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,944,965 2,661,939
Investments 5 2 2
2,944,967 2,661,941

CURRENT ASSETS
Stocks 41,940 84,936
Debtors 6 188,890 483,964
Cash at bank and in hand 89,747 18,074
320,577 586,974
CREDITORS
Amounts falling due within one year 7 1,558,088 1,632,080
NET CURRENT LIABILITIES (1,237,511 ) (1,045,106 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,707,456

1,616,835

CREDITORS
Amounts falling due after more than one year 8 (275,753 ) (172,293 )

PROVISIONS FOR LIABILITIES (270,978 ) (259,011 )
NET ASSETS 1,160,725 1,185,531

CAIRNGORM SKI SERVICES LIMITED (REGISTERED NUMBER: 01319576)

BALANCE SHEET - continued
31 October 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Revaluation reserve 11 226,833 226,833
Retained earnings 883,892 908,698
SHAREHOLDERS' FUNDS 1,160,725 1,185,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





P Southcott - Director


CAIRNGORM SKI SERVICES LIMITED (REGISTERED NUMBER: 01319576)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

Cairngorm Ski Services Limited is a private company, limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Unit H Opus 36, New Potter Grange Road, Goole, DN14 6BZ.

The company's principal activity during the year continued to be the provision of coaching holidays throughout the United Kingdom and Europe.

The presentational currency of the financial statements is Pound Sterling (£).

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover is recognised at the date of departure of tours.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

All sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

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:

Hotel equipment5% to 20% straight line
Motor vehicles25% reducing balance
Office equipment15% reducing balance
Ski equipment10% straight line
Computer equipment20% straight line
Fixtures and fittings10% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less provision for impairment.

CAIRNGORM SKI SERVICES LIMITED (REGISTERED NUMBER: 01319576)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
Contributions to defined contribution plans are recognised in the period to which they relate.

Accounting period
The company's accounting reference period date is 31 October. Financial statements are made up for a 52 or 53 week period ending on a Saturday adjacent to 31 October in each year. The financial statements are for a 53 week period ending 28 October 2023. The comparative figures are for a 52 week period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2022 - 60 ) .

CAIRNGORM SKI SERVICES LIMITED (REGISTERED NUMBER: 01319576)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


4. TANGIBLE FIXED ASSETS
Improvements
to Hotel and Other Motor
property equipment equipment vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022 50,247 3,142,904 56,623 58,467 3,308,241
Additions - 146,763 3,688 267,000 417,451
At 31 October 2023 50,247 3,289,667 60,311 325,467 3,725,692
DEPRECIATION
At 1 November 2022 1,750 572,787 46,742 25,023 646,302
Charge for year 1,005 106,319 3,907 23,194 134,425
At 31 October 2023 2,755 679,106 50,649 48,217 780,727
NET BOOK VALUE
At 31 October 2023 47,492 2,610,561 9,662 277,250 2,944,965
At 31 October 2022 48,497 2,570,117 9,881 33,444 2,661,939

The hotel was revalued in 2002 at £1,735,000. On transition to FRS102 the prior revaluation was taken as deemed cost.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 2
NET BOOK VALUE
At 31 October 2023 2
At 31 October 2022 2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Cairngorm Coach Travel Limited
Registered office: Unit H Opus 36, New Potter Grange Road, Goole, DN14 6BZ.
Nature of business: Provision of coach travel
%
Class of shares: holding
A Ordinary 100.00

CAIRNGORM SKI SERVICES LIMITED (REGISTERED NUMBER: 01319576)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


5. FIXED ASSET INVESTMENTS - continued

Cairngorm Transport Limited
Registered office: 33 Aire Street, Goole, East Riding of Yorkshire, DN14 5QW
Nature of business: Buying in and selling out of coach transport
%
Class of shares: holding
A Ordinary 100.00

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,812 351,113
Other debtors 28,448 33,587
Prepayments 131,630 99,264
188,890 483,964

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 48,950 100,417
Hire purchase contracts (see note 9) 48,060 -
Trade creditors 130,590 109,699
Amounts owed to group undertakings 402,004 232,050
Social security and other taxes 9,657 14,767
VAT 126,973 78,214
Other creditors 103,259 180,158
Directors' current accounts 75,088 167,356
Accruals and deferred income 613,507 749,419
1,558,088 1,632,080

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans > 1 year 123,563 172,293
Hire purchase contracts (see note 9) 152,190 -
275,753 172,293

CAIRNGORM SKI SERVICES LIMITED (REGISTERED NUMBER: 01319576)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Gross obligations repayable:
Within one year 56,556 -
Between one and five years 179,153 -
235,709 -

Finance charges repayable:
Within one year 8,496 -
Between one and five years 26,963 -
35,459 -

Net obligations repayable:
Within one year 48,060 -
Between one and five years 152,190 -
200,250 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 172,513 221,243

The bank loans are secured by a fixed charge over the Duke of Gordon Hotel, together with a floating charge over the assets of Cairngorm Ski Services Limited, and a cross guarantee over the assets of the two subsidiary companies.

11. RESERVES
Revaluation
reserve
£   
At 1 November 2022
and 31 October 2023 226,833

12. GENERAL INFORMATION

Cairngorm Ski Services Limited has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.