Pinehurst Lodge Ltd
Registered number: SC463533
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 49,288 38,743
Investments 4 620,756 -
670,044 38,743
Current assets
Stocks 6,885 7,115
Debtors 5 8,554 6,735
Cash at bank and in hand 395,511 828,189
410,950 842,039
Creditors: amounts falling due within one year 6 (164,212) (93,466)
Net current assets 246,738 748,573
Total assets less current liabilities 916,782 787,316
Creditors: amounts falling due after more than one year 7 (11,040) (18,687)
Net assets 905,742 768,629
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 904,742 767,629
Shareholders' funds 905,742 768,629
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
D.Crawford
Director
Approved by the board on 27 August 2024
Pinehurst Lodge Ltd
Notes to the Accounts
for the year ended 30 November 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.
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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 25 22
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 73,121 22,610 95,731
Additions 10,042 15,000 25,042
At 30 November 2023 83,163 37,610 120,773
Depreciation
At 1 December 2022 54,378 2,610 56,988
Charge for the year 8,887 5,610 14,497
At 30 November 2023 63,265 8,220 71,485
Net book value
At 30 November 2023 19,898 29,390 49,288
At 30 November 2022 18,743 20,000 38,743
4 Investments
Other
investments
£
Cost
Additions 620,756
At 30 November 2023 620,756
5 Debtors 2023 2022
£ £
Trade debtors 8,554 6,735
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 17,770 24,119
Corporation tax 81,022 28,969
Other creditors 65,420 40,378
164,212 93,466
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 13,528 18,687
Obligations under finance lease and hire purchase contracts (2,488) -
11,040 18,687
8 Other information
Pinehurst Lodge Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
Pinehurst Lodge
Pitmedden Road
Dyce
Aberdeenshire
AB21 0EX
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