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REGISTERED NUMBER: SC619378 (Scotland)















Polmaily House Ltd

Financial Statements For The Year Ended 31 January 2024






Polmaily House Ltd (Registered number: SC619378)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Polmaily House Ltd

Company Information
For The Year Ended 31 January 2024







DIRECTORS: C G Perkins
Mrs D F Perkins
G Morgan
Mrs H G Morgan





REGISTERED OFFICE: Polmaily House
Drumnadrochit
Inverness
Highland
IV63 6XT





REGISTERED NUMBER: SC619378 (Scotland)





ACCOUNTANTS: The Long Partnership
1st Floor
Robertson House
Shore Street
Inverness
Highland
IV1 1NF

Polmaily House Ltd (Registered number: SC619378)

Balance Sheet
31 January 2024

31.1.24 31.1.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,575 37,274

CURRENT ASSETS
Debtors 5 793 1,887
Cash at bank and in hand 65,029 76,363
65,822 78,250
CREDITORS
Amounts falling due within one year 6 113,665 107,673
NET CURRENT LIABILITIES (47,843 ) (29,423 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,268

)

7,851

CREDITORS
Amounts falling due after more than one
year

7

(9,497

)

(14,221

)

PROVISIONS FOR LIABILITIES (8,849 ) (2,064 )
NET LIABILITIES (19,614 ) (8,434 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (19,714 ) (8,534 )
(19,614 ) (8,434 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Polmaily House Ltd (Registered number: SC619378)

Balance Sheet - continued
31 January 2024


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 16 July 2024 and were signed on its behalf by:




G Morgan - Director C G Perkins - Director




Mrs H G Morgan - Director Mrs D F Perkins - Director


Polmaily House Ltd (Registered number: SC619378)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

Polmaily House 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.

At the balance sheet date, the company had net current liabilities of £47,843 (2023- £29,423). and net liabilities of £1,268 (2023- net assets£7,851) The directors considers that it is appropriate to prepare the accounts under the going concern principal as they will continue to give financial support to the company for twelve months from the date of signing these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% on reducing balance

Taxation
Taxation for the year 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

Polmaily House Ltd (Registered number: SC619378)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 February 2023 58,190
Additions 16,295
At 31 January 2024 74,485
DEPRECIATION
At 1 February 2023 20,916
Charge for year 6,994
At 31 January 2024 27,910
NET BOOK VALUE
At 31 January 2024 46,575
At 31 January 2023 37,274

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
as restated
£    £   
Trade debtors - 800
Other debtors 793 1,087
793 1,887

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
as restated
£    £   
Bank loans and overdrafts - 442
Other creditors 113,665 107,231
113,665 107,673

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
as restated
£    £   
Other creditors 9,497 14,221